Takeda Pharmaceuticals, Maker of Actos, Earns Increased Profits

Takeda, a Japanese pharmaceutical company, reported an 18% rise in profits in Q1 of FY 2011, booking profits at $1.5 billion, despite its share price dropping about 8% since the start of the year. Takeda’s top selling drug, Actos, generated about $3.4 billion in 2009, but has recently been the subject of an FDA safety warning connecting Actos to an increased risk of bladder cancer. Reportedly, new products contributed to the increase in profit, including Nesina (alogliptin), another type 2 diabetes treatment, and Vectibix (panitumumab), an anti-cancer agent.