Takeda Expects Swing to Profit as Shire Integration Gains Pace
Pedestrians walk past the Takeda Pharmaceutical Co. global headquarters in Tokyo.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Takeda Pharmaceutical Co.’s integration of its $62 billion purchase of Shire Plc is netting faster savings than expected, leading Japan’s largest drugmaker to expect an annual profit, reversing an earlier forecast for a loss.
The shares of Takeda rose as much as 4.4% in early trading in Tokyo on Wednesday, after reporting that operating profit will probably reach 10 billion yen ($92 million). That compares with its previous forecast for a loss of 110 billion yen. The average analyst estimate was for a loss of 57 billion yen.