October 31, 2018 / 6:14 AM / 17 days ago

Takeda's raises full-year outlook after Q2 profit rise

TOKYO, Oct 31 (Reuters) - Takeda Pharmaceutical Co Ltd on Wednesday raised its annual operating profit outlook to 268.9 billion yen.

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 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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