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Takeda forecasts 17 percent profit decline on Velcade U.S. exclusivity loss

Reuters  |  TOKYO 

By Sam NusseyTOKYO (Reuters) - Japan's Takeda Pharmaceutical Co Ltd on Monday forecast a 17 percent fall in operating profit for the year through March 2019 as blood cancer drug Velcade looks set to lose exclusivity in the U.S. The decline, which is likely to be partly offset by growing sales of drugs such as bowel disease treatment Entyvio and heartburn and ulcer drug Takecab, underscores Takeda's need to bolster its pipeline. It also comes days after it agreed to a record-breaking $62 billion deal to acquire London-listed Shire.Profit for the year ended March 2018 grew 55 percent to 241.8 ...

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First Published: Mon, May 14 2018. 12:15 IST