By Kosaku Narioka


Takeda Pharmaceutical Co. said Thursday that first-quarter net profit slid 24% due to a high base a year earlier, despite broad-based gains in drug sales.

The Japanese drugmaker said net profit for the quarter ended June 30 rose to 105.01 billion yen ($768.7 million) from Y137.68 billion a year earlier, which had been boosted by its divestment of diabetes products in Japan. The quarterly net profit was largely in line with the estimate of Y105.67 billion from a poll of analysts by Quick.

First-quarter revenue increased 2.4% to Y972.465 billion thanks partly to a weaker yen. U.S. revenue rose 22% to Y501.1 billion.

Drug sales increased across various business areas. Sales of ulcerative colitis drug Entyvio rose 34% from a year earlier to Y168.3 billion.

Takeda kept its revenue and net profit forecasts for the fiscal year ending March 2023. It continued to expect revenue to increase 3.4% to Y3.690 trillion and net profit to rise 27% to Y292.00 billion.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

07-28-22 0251ET