July 31, 2018 / 11:15 AM / 22 days ago

Shire posts 4 pct rise in Q2 earnings ahead of sale to Takeda

LONDON, July 31 (Reuters) - Shire, the London-listed pharmaceutical group being bought by Japan’s Takeda, 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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