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Bloomberg
Takeda Pharmaceutical Co forecast a surprise operating loss for the year due to acquisition costs and related charges from its $62 billion purchase of Shire Plc, but the Japanese drugmaker said the deal will result in bigger-than-projected cost savings.
The company raised its annual cost savings target to
$2 billion from $1.4 billion by the end of fiscal 2021, although it will post an operating loss of $1.8 billion for the year ending March 2020.
Analysts had predicted a profit. Annual sales are seen at 3.3 trillion yen, compared with analysts’ estimates for 3.45 trillion yen.
This is the report analysts and investors have been most eagerly awaiting, as it’s the most complete picture yet of the combined operations of Takeda and Shire. The deal closed in January, bringing the Japanese firm company lucrative therapies for rare diseases.