Takeda reports 37-percent increase in first-half net income

Takeda's net income for the first half of fiscal 2007 grew 37 percent to 218 billion yen ($1.9 billion) over the previous year, boosted by a 29-percent increase in first-half sales of Actos to 207.1 billion yen. The company also increased its forecast for full-year net income, estimating that it will jump 18 percent to 395 billion yen ($3.4 billion) for the year ended in March 2008.

"Sales of [Actos] showed strong growth in the US in particular, following problems with a rival drug, and accounted for nearly 60 percent of overall sales growth in the first half," remarked president Yasuchika Hasegawa, referring to concerns about cardiovascular risks for GlaxoSmithKline's Avandia. "Although the US market for broader type 2 diabetes drugs are slowing down, we aim to post double digit growth in the next year," the executive added.

In other financial results, sales of hypertension drug Blopress reached 112.8 billion yen, a 12-percent increase over the year-prior period. The company's total revenue for the six months ended September 30 rose 10 percent to 708.5 billion yen.

Regarding experimental cholesterol drug, TAK-475 (lapaquistat), which Takeda said last week would be filed later than expected with the FDA, president Hasegawa noted "we had previously thought this drug would eventually post more than 100 billion yen in sales, but it is almost certain that peak sales will not reach that level." The executive added: "Due to the risk to our pipeline, we may need to work out contingency plans, including hiking licence arrangements with other companies and even launching merger and acquisitions."

In other news announced Monday, the Japanese drugmaker said it launched US and European Phase II trials of its experimental Factor Xa inhibitor, TAK-442, for the treatment of venous and arterial thromboembolism.

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