Takeda Pharmaceutical Co Ltd said it now expects an operating profit fo...
) said it now expects an operating profit for the full year, as opposed to its earlier projection for a loss, due to stronger sales and cost savings from its integration with Shire Plc.
The company forecast an operating profit of 10 billion yen for the year ending in March, versus its previous forecast for a loss of 110 billion yen. That compares with an average loss forecast of 75.6 billion yen from 13 analysts polled by Refinitiv. The Shire acquisition, which was completed in January 2019, expanded Takeda’s pipeline and diversified its global sales, with half now coming from the United States.
But while the Shire buy gave Takeda global heft, it left it with net debt of about $40 billion as of September 2019.It completed $7 billion in divestitures in calendar 2019, including assets in the Middle East and Africa and a dry-eye drug sold for $5.3 billion to Novartis, Refinitiv data shows.
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