Shares of Takeda Pharmaceutical Co Ltd (TAK) plummeted 5.01% in pre-market trading on Thursday following the release of its fiscal fourth-quarter earnings report, which showed a significant decline in core earnings.
The Japanese pharmaceutical giant reported quarterly earnings of $0.16 per share, marking a substantial 33.33% decrease from $0.24 per share in the same period last year. Sales also saw a slight dip, coming in at $7.02 billion for the quarter, down 0.93% from $7.08 billion in the previous year.
The disappointing earnings report comes amid a broader downturn in the healthcare sector. The Health Care Select Sector SPDR Fund (XLV) was down 0.9% pre-market, while the iShares Biotechnology ETF (IBB) declined 0.7%. Takeda's performance, however, stood out with its more pronounced drop, reflecting investors' concerns about the company's financial health and growth prospects in a challenging market environment.
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