Takeda Expects Profit To Fall This Year

TOKYO -- Takeda Pharmaceutical Co. posted a 5.9% rise in net profit for the fiscal year ended March 31 but said it expects earnings to slump in the current year following its recent $8.8 billion purchase of a U.S. biotechnology company.

By acquiring Millennium Pharmaceuticals Inc., Takeda, Japan's biggest drug maker by revenue, is hoping to gain a foothold in the lucrative cancer-drug market. The Millennium buyout, which ends this week, ...