Shire posts 4 percent rise in second quarter earnings ahead of sale to Takeda

FILE PHOTO: Shire branding is seen outside their offices in Dublin, Ireland, April 25, 2018. REUTERS/Clodagh Kilcoyne/File Photo - Copyright Clodagh Kilcoyne(Reuters)

By Reuters

Published on 31/07/2018 - 13:34•Updated 19/04/2024 - 03:19

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LONDON (Reuters) - Shire <SHP.L>, the London-listed pharmaceutical group being bought by Japan's Takeda <4502.T>, reported a 4 percent rise in second-quarter earnings as revenue rose 5 percent to $3.92 billion, just ahead of market expectations.

It said its outlook for the year, including its oncology franchise which it has separately agreed to sell, was unchanged.

Earlier on Tuesday, Takeda said its first-quarter operating profit had halved from a year ago, when it had booked gains from asset sales. It is buying Shire to broaden its drugs portfolio and plug a gap in its late-stage pipeline.

(Reporting by Paul Sandle; editing by Kate Holton)

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