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Japan's largest pharmaceutical group, Takeda, on Friday announced a sizeable net loss at the end of the 2014/15 financial year on an exceptional expense related to settling thousands of lawsuits related to its anti-diabetic drug Actos in the United States.
This hiccup, from which the group hopes to recover already this year, does not come as a surprise since Takeda announced it a month ago.
Takeda had never closed a financial year in the red since its IPO in 1949.
The Osaka-based pharmaceutical giant has decided to pay up to 2.4 billion dollars to settle some 8,000 lawsuits in the United States over the Actos treatment accused of causing bladder cancer.
According to the group, the negative impact of this matter "is estimated at around 270 billion yen on operating income, and 180 billion net on the balance".
De facto, Takeda suffered an operating loss of 129.25 billion yen (about 1 billion euros).
Its sales have experienced an honorable recovery during the period from April 1, 2014 to March 31, 2015.
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[2015/05/15 09:03:05] Tokyo (AFP) – webmanagercenter
Related news: Takeda Offers $2.2 Billion to Settle Actos Drug Cases (Bloomberg)
