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MarketScreener Homepage  >  Equities  >  Tokyo  >  Takeda Pharmaceutical Co Ltd    4502   JP3463000004

TAKEDA PHARMACEUTICAL CO LTD

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Takeda Pharmaceutical : expects net loss in FY 2019 due to Shire buyout cost

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05/14/2019 | 08:04am EDT

Takeda Pharmaceutical Co. said Tuesday its profit declined in the business year ended March and it expects to book a net loss of 383 billion yen ($3.5 billion) in the current year due to costs related to its buyout earlier this year of Irish drugmaker Shire Plc.

But Japan's largest drugmaker said its core operations continued to fare well, with such key products as ulcerative colitis and multiple myeloma treatments posting higher sales.

In the just ended business year, Takeda's group net profit fell 41.6 percent to 109.13 billion yen. Without the effects of the takeover of Shire, the company said it saw a 67.4 percent rise in net profit.

Takeda and other major Japanese pharmaceutical companies have sought to improve their competitiveness in the global market through acquisitions of foreign firms. Takeda has aggressively bought European and U.S. drugmakers to expand its product lineup and development pipeline.

With the acquisition of Shire, Takeda projects its sales in the year to March 2020 will climb 57.4 percent to 3.30 trillion yen. If achieved it would be the first Japanese pharmaceutical company to record sales of over 3 trillion yen.

The net loss forecast for the current business year will mainly result from a write-down of Shire's inventories. Without the Shire-related costs, Takeda's sales and profit would likely be higher from the previous year, it said.

The 6.2 trillion yen takeover of Shire was completed in January, making it the biggest-ever Japanese acquisition of a foreign firm.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SHIRE 2.42% 4690 End-of-day quote.0.00%
TAKEDA PHARMACEUTICAL CO LTD -1.18% 3778 End-of-day quote.4.36%
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Financials (JPY)
Sales 2020 3 361 B
EBIT 2020 379 B
Net income 2020 -163 402 M
Debt 2020 4 513 B
Yield 2020 4,81%
P/E ratio 2020 -
P/E ratio 2021 32,25
EV / Sales 2020 3,10x
EV / Sales 2021 2,90x
Capitalization 5 897 B
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Number of Analysts 12
Average target price 5 434  JPY
Spread / Average Target 45%
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Managers
NameTitle
Christophe Weber President, CEO & Representative Director
Costa Saroukos Chief Financial Officer
Andrew S. Plump Director, Chief Medical & Scientific Officer
Yasuhiko Yamanaka Managing Director & Head-Globalization
Masato Iwasaki Director & President-Japan Pharma Business Unit
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