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news.Osaka-based Takeda Pharmaceutical, a research-based global pharmaceutical company, reported a 17% drop in April-December nine-month profit, for the first time in two years, as its ulcer drug Prevacid lost patent protection.
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Further, the stronger Japanese currency has also eaten into the value of overseas revenue.
Takeda‘s net income dropped to JPY215.5bn from JPY259.1bn year earlier.
Sales fell 4.2% to JPY1.08 trillion.
Takeda posted an operating profit of JPY332.5bn, down from JPY356.2bn a year ago.