Takeda Pharmaceutical Raises Its Profit Outlook

Shares of Japanese drugmaker Takeda Pharmaceutical (NYSE: TAK) were trading 3% higher Tuesday after the company reported a jump in revenue and core operating profit in its fiscal third quarter, reflecting its acquisition of Shire in January 2019, and raised its profit guidance for the year. Revenue was up 83% to 2,520 billion Japanese yen, or $23.0 billion. Excluding the acquisition, revenue declined by 1.2%. Earnings per share were 27 yen or $0.25, up from a loss of 183 yen ($1.67) in the period a year ago.