Takeda tanks on falling revenue

Shares in Japanese drugmaker Takeda (TYO: 4502) slipped by 6% on Friday after the firm presented its latest financial results.

Since Takeda’s financial year runs from April to March, the figures relate to the first half of the fiscal year, which has of course been hit by the challenges of the COVID-19 pandemic.

Revenue for the six months to end September 2020, has dropped by 4.2% to 1,590.8 billion yen ($15.23 billion) compared to the same period a year ago, and Takeda has revised down its sales guidance for the year from 3,250 billion yen to 3,200 billion yen. The company blamed this primarily on the impact of foreign exchange.