Tuesday, October 30, 2007

Takeda tumbles in Tokyo

Poor Takeda. Japan's largest drugmaker, fell the most in 20 years in Tokyo trading on concern one of its most promising experimental medicines will be delayed.

Takeda slumped as much 12 percent, or 1,000 yen, the maximum allowed by the Tokyo Stock Exchange, to 7,060 yen after analysts cut their ratings on the shares, citing the delay. The Osaka-based company said late yesterday that it's reviewing development of the cholesterol drug TAK-475 after it was linked to higher levels of an enzyme that may indicate liver damage.

More at Bloomberg

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