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Chugai 9-month profit climbs 66.9% YOY; 2019 outlook raised

Chugai Pharmaceutical Co. Ltd. said its earnings for the first nine months rose 66.9% year over year and raised its outlook for 2019.

The Tokyo-based Roche Holding AG unit reported net income attributable to shareholders of ¥117.39 billion, up from ¥70.34 billion in the year-ago period.

EPS for the nine months ended Sept. 30 rose 66.8% to ¥214.17 from ¥128.39 for the same period in 2018.

Revenue for the nine months grew 19.3% on an annual basis to ¥508.85 billion from ¥426.44 billion. Additionally, operating profit grew 64.3% year over year to ¥160.88 billion from ¥97.91 billion.

For full year 2019, the Japanese drugmaker now expects core EPS to be ¥302.00, an increase from the previous forecast of ¥198.00.

Chugai also anticipates full-year revenue to reach ¥680.00 billion, up from its earlier outlook of ¥592.50 billion.

As of Oct. 23, US$1 was equivalent to ¥108.64.