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Takeda posts 55 percent jump in annual profit, beats estimates

Reuters  |  TOKYO 

(Reuters) - Japan's Pharmaceutical Co Ltd reported on Monday a 55.1 percent jump in annual operating profit, buoyed by growing sales of drug and heartburn and ulcer drug

Operating profit came in at 241.8 billion yen ($2.21 billion) for the year ended March, versus 155.9 billion yen a year ago. That was above an average estimate of 235.4 billion yen from 11 analysts polled by I/B/E/S.

For the current financial year, sees an operating profit of 201 billion yen.

The earnings come days after it agreed to acquire London-listed Shire for $62 billion in a deal that will propel it into the top 10 rankings of global drugmakers.

($1 = 109.3600 yen)

(Reporting by Sam Nussey; Editing by Edwina Gibbs and Himani Sarkar)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 11:43 IST