Bloomberg News

Takeda Slashes Profit Forecast by 32% on Nycomed Takeover Costs

November 09, 2011

Nov. 4 (Bloomberg) -- Takeda Pharmaceutical Co., the Japanese drugmaker that bought Swiss rival Nycomed in September, cut its full-year profit forecast by 32 percent on costs related to the 9.6 billion euro ($13.3 billion) takeover and foreign exchange fluctuations.

Net income will drop 31 percent to 170 billion yen ($2.2 billion) in the 12 months ending March 2012 from a year earlier, instead of the 250 billion yen forecast in July, Takeda said in a statement today. The Osaka-based drugmaker is expected to earn 255 billion yen, according to the average five analyst estimates compiled by Bloomberg in the past four weeks.

To contact the reporter on this story: Kanoko Matsuyama in Tokyo at kmatsuyama2@bloomberg.net

To contact the editor responsible for this story: Jason Gale at j.gale@bloomberg.net


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