Salem Radio Network News Thursday, December 2, 2021

Business

Japan’s Takeda half-year profit climbs, announces share buyback

TOKYO (Reuters) – Japan’s Takeda Pharmaceutical Co said on Thursday that its half-year profit rose 61% as the drugmaker tries to wring synergies out of its acquisition of Shire Plc. Operating profit was 346 billion yen ($3.05 billion) in the six months through Sept. 30, the drugmaker said, compared with 215.6 billion yen a year earlier. Takeda reiterated its full-year operating profit forecast at 488 billion yen. That compares with a consensus forecast of 509.2 billion yen, according to a Refinitiv poll of 13 analysts.

The company also said it would buy back up to 2.23% of shares worth 100 billion yen.

($1 = 113.5700 yen)

(Reporting by Rocky Swift; Editing by Himani Sarkar)

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