Takeda's profit forecast turns positive on successful Shire onboarding

Japanese drugmaker Takeda (TYO: 4502) closed 1% up after Tuesday’s Tokyo trading.

The firm had that morning presented its latest financial results, which for Takeda are for its third quarter of fiscal year 2019/20, as the company’s fiscal year runs from April to March.

Revenue for the quarter was 2.52 trillion yen ($23 billion), with the 83% rise on the same period a year ago coming as a result of Takeda’s $62 billion acquisition of the rare diseases drugmaker, Shire. On a pro-forma basis, making a comparison with the combination of the two companies’ revenue, sales were down 1.2%, though this is expected to be flat by the forthcoming quarter.