Takeda posts first loss in 16 years; points to Millennium acquisition

OSAKA, Japan Takeda Pharmaceuticals announced that its operating profit declined for the first time in 16 years and also warned that its net profit for fiscal 2009 would diminish by more than a half as a result of its recent deal to acquire Millennium Pharmaceuticals for almost $9 billion, according to published reports.

The company’s operating profit for the 12 months ending in March fell by 7.7 percent to $4.1 billion. This was due to a 42.7 percent rise in research and development expenditures, an 18.7 percent increase in operating expenses and the high cost of buying Amgen.

Takeda’s total sales for the year climbed though to a record 5.3 percent to $13.3 billion, as a result of robust sales of its blockbuster drugs. The global sales of Actos, a diabetes drug, rose 17.8 percent, to $3.9 billion. Sales of Blopress, to treat hypertension, grew 8.2 percent, to $2.2 billion during the year.