Raising Takeda’s FVE on Velcade Generic Delay and Gross Margin Strength; Shares Remain Overvalued
Takeda’s second half of fiscal 2017 is shaping up to be less challenging than we had originally thought, largely due to the delay in significant Velcade competition and continued gross margin improvements. Takeda raised its underlying core earnings outlook for the full year following strong performance for the first nine months of the fiscal year and higher expectations for cancer drug Velcade sales in the near term, with underlying revenue growth steady at 7% and underlying core earnings growth...
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