UPDATE 1-Takeda Q3 profit down 25.6 pct; keeps outlook

* Q3 recurring profit 114.4 bln yen vs 153.6 bln yen year ago

* Keeps annual outlook at Y400 bln vs Y418.3 bln consensus

* Profit depressed by strong yen, sluggish drug sales

* Shares close up 0.1 pct ahead of results

TOKYO, Feb 3 (BestGrowthStock) – Takeda Pharmaceutical (4502.T: ),
Japan’s biggest drugmaker, posted a 25.6 percent fall in
quarterly profit, the lowest in three quarters, hit by a strong
yen and sluggish U.S. sales, and it kept its full-year forecast.

The absence of a major new drug launch and stiff competition
have weighed on Takeda’s earnings, and its long-term outlook has
been clouded by delays in the expected approval of a successor to
its top-selling diabetes drug Actos.

Aiming to offset the impact of patent expirations on key
drugs, Takeda bought U.S. biotech firm Millennium Pharmaceutical,
absorbed its part of a former U.S. joint venture and has said it
may make an acquisition to help it enter the generic drug
business in emerging markets. [ID:nBOM454753]

The Osaka-based company, led by president Yasuchika Hasegawa,
posted a pre-tax recurring profit of 114.4 billion yen for the
October-December quarter, down from 153.6 billion yen in the same
period a year ago.

Takeda kept its recurring profit forecast for the full year
to March 2010 unchanged at 400 billion yen.

The company’s forecast falls short of the market consensus of
418.3 billion yen, according to a survey of 17 analysts by
Thomson Reuters I/B/E/S.

Astellas Pharma (4503.T: ), Japan’s No.2 drugmaker, said on
Tuesday its nine-month recurring profit fell 24 percent on the
strong yen and tough competition, especially on its mainstay
transplant drug which has already lost U.S. patent protection.

Takeda shares have risen about 11 percent in the past 3
months, outperforming the benchmark Nikkei 225 stock average
(.N225: ) which gained 6 percent.

Prior to the results, Takeda’s stock rose 0.1 percent to
4,060 yen. The Nikkei gained 0.3 percent.

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(Reporting by Yumiko Nishitani; Editing by Muralikumar
Anantharaman)

UPDATE 1-Takeda Q3 profit down 25.6 pct; keeps outlook