Takeda Pharmaceutical Projects Lower Annual Profit After Quarterly Loss

By Kosaku Narioka

Takeda Pharmaceutical reported a fourth-quarter loss and forecast a drop in annual net profit due partly to restructuring expenses.

The Japanese drugmaker said Thursday that it booked a net loss of 3.0 billion yen ($19.3 million) for the three months ended March, compared with a net profit of Y31.1 billion a year earlier.

Fourth-quarter revenue increased 9.9% to Y1.051 trillion.

For the year that began in April, it projected net profit to drop 60% to Y58.00 billion and revenue to increase 2.0% to Y4.350 trillion.

Takeda said it expects to book Y140.0 billion in restructuring expenses this fiscal year under a new initiative aiming for growth and cost cuts.

Write to Kosaku Narioka at [e-mail]

(END) Dow Jones Newswires

05-09-24 0308ET