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Takeda books rise in 9-month profit; ups FY'18 outlook due to higher sales

Takeda Pharmaceutical Co. Ltd. said nine-month profit for fiscal year 2018 rose 45.4% and revenue grew 4.1% from the year-ago period.

The Tokyo-based pharmaceutical company booked nine-month net profit attributable to shareholders of ¥240.90 billion, or ¥308.59 per share, up 45.4% from ¥165.70 billion, or ¥212.08 per share, in the year-ago period.

Takeda's revenue for the period was ¥1.370 trillion, up from ¥1.316 trillion in the year-ago period.

For the full fiscal year 2018, Takeda now expects revenue to grow by 0.7% year over year to ¥1.745 trillion, compared to a previous forecast of ¥1.720 trillion.

The Japanese company also expects net profit for the year to grow by 36.9% year over year, to ¥157.3 billion, or ¥201 per share. Takeda previously expected net profit for the year to come in at ¥152 billion, or ¥195 per share.

The company raised its revenue and profit forecast due to increased sales of cancer drug Velcade. The forecast also includes the impact of U.S. tax reform, as well as the sale of additional long-listed products to Teva Takeda Yakuhin Ltd., its joint venture with Teva Pharmaceutical Industries Ltd.

As of Jan. 31, US$1 was equivalent to ¥109.27.