July 31, 2018 / 6:20 AM / 15 days ago

Takeda Q1 profit tumbles 49 pct after asset sales, hit by generic drug competition

TOKYO, July 31 (Reuters) - Japan’s Takeda Pharmaceutical Co Ltd on Tuesday reported a 49 percent fall in first-quarter operating profit, affected by asset sales booked in the same quarter a year earlier and by generic drug competition for blood cancer treatment Velcade in the U.S.

Operating profit came in at 98.9 billion yen ($889.3 million) for the quarter ended June, versus 195 billion yen a year ago.

Takeda maintained its full year operating profit forecast of 201 billion yen. ($1 = 111.2100 yen) (Reporting by Sam Nussey; editing by Richard Pullin)

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