TOKYO (Reuters) – Japan’s biggest drugmaker Takeda Pharmaceutical on Thursday slashed its full-year profit forecast by 36% as it contends with disappointments in its development pipeline and the loss of patent protection on key products.
Takeda lowered its operating profit forecast to 225 billion yen ($1.5 billion) in the financial year ending March 2024, it said in mid-year results.
The forecast is well below its earlier guidance of 349 billion yen and consensus expectations for full-year operating profit of 400.3 billion yen, based on an LSEG survey of 17 analysts.
The company posted operating earnings of 490.5 billion yen the previous year.
(Reporting by Rocky Swift; Editing by Jamie Freed)
