Takeda Pharma posts Q1 loss on costs, raises forecast

TOKYO, July 31 (Reuters) - Japan's Takeda Pharmaceutical Co Ltd (4502.T) on Thursday posted its first quarterly operating loss on record due to one-off costs from acquisitions, but it raised its full-year outlook by 17 percent.

Japan's largest drugmaker raised its group operating profit forecast for the year to March 2009 to 280 billion yen from 240 billion yen. The market consensus was for 249.4 billion yen in a poll of 16 analysts by Reuters Estimates.

Its April-June operating loss came to 27.2 billion yen versus an operating profit of 153.12 billion yen a year ago.

Takeda, whose mainstay Actos diabetes pill will lose U.S. patent protection in 2011, bought U.S. biotech firm Millennium Pharmaceuticals in May for about $8.8 billion in cash, seeking to beef up its cancer drug business.

With top-selling medicines losing exclusivity in the world's largest markets, many drug firms are increasing research and development budgets to bolster their product pipelines. Some have also used corporate acquisitions and tie-ups to speed such efforts.

Takeda said in May it expected to book about $1.7 billion in costs this business year to account for R&D of drug candidates it took over from Millennium and in a buyout of its half of TAP Pharmaceuticals, previously a venture with Abbott Laboratories Inc (ABT.N).

Takeda shares have fallen 16 percent this year through Wednesday, while the benchmark Nikkei average .N225 is down 13 percent. (Reporting by Yumiko Nishitani; Editing by Hugh Lawson)