Daiichi Sankyo Hauls Back Mid-Term Profit Outlook As It Builds Oncology

Big cut in mid-term profit outlook hits Daiichi Sankyo shares but company says it is reallocating more to R&D to accelerate the strategic build-out of its oncology franchise.

Arrows miss target
Daiichi Puts Back 2020 Targets • Source: Shutterstock

Daiichi Sankyo Co. Ltd.'s shares fell by as much as 7% on Oct. 31 in Tokyo after the Japanese company unveiled a massive cut to its earlier mid-term operating profit target, although they recovered in the day to close around 2% down.

While the company left its revenue and profit guidance for the current fiscal year to March 31 unchanged in its fiscal second quarter results to Sept

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