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Takeda's raises full-year outlook after second quarter profit rise

Takeda's raises full-year outlook after second quarter profit rise
FILE PHOTO: Takeda Pharmaceutical Co's logo is seen at its new headquarters in Tokyo, Japan, July 2, 2018. REUTERS/Kim Kyung-Hoon   -   Copyright  Kim Kyung Hoon(Reuters)
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TOKYO (Reuters) – Takeda Pharmaceutical Co Ltd <4502.T> on Wednesday raised its annual operating profit outlook to 268.9 billion yen.(1.87 billion pounds)

That compares with an earlier company estimate of 201 billion yen and an average Refinitiv estimate of 222.7 billion yen from eight analysts.

Japan’s biggest drugmaker reported a 85.6 percent rise in second-quarter operating profit, due to strong global sales of its drugs for bowel disease and multiple myeloma.

Operating profit was 73.1 billion yen ($645.5 million) for the three months through September, compared with 39.4 billion yen a year earlier.

Takeda is working to close a $62 billion acquisition of London-listed Shire <SHP.L> as it looks to strengthen its late-stage pipeline.

($1 = 113.2500 yen)

(Reporting by Takashi Umekawa; Editing by Edwina Gibbs)

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