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Nikkei drops to 2-week low as Takeda drags down pharma sector
April 8, 2014 / 6:45 AM / 4 years ago

Nikkei drops to 2-week low as Takeda drags down pharma sector

TOKYO, April 8 (Reuters) - Japanese shares fell 1.4 percent
to a two-week low on Tuesday as Takeda Pharmaceutical Co
 tumbled after a U.S. jury ordered it to pay $6 billion
over claims it concealed risks associated with its Actos
diabetes drug.
    Gains in the yen also hurt sentiment, while tech stocks
extended declines into a second day.
    During the session, the Bank of Japan stood pat on policy as
expected after a two-day policy meeting. 
    The Nikkei share average lost 201.97 points to end
at 14,606.88, its weakest close since March 26.    
    Takeda tumbled 5.2 percent to 4,572 yen, its weakest close
in two months, and was the second most-traded stock after a U.S.
jury ordered it pay $6 billion in damages over claims concealed
cancer risks associated with its Actos drug. 
    It fell as much as 8.8 percent to its weakest since August
2013 during trade, and its losses weighed on other drugmakers.
    The broader Topix index dropped 1.9 percent to
1,174.56. The new JPX-Nikkei Index 400 fell 1.7
percent to 10,679.63.

 (Reporting by Ayai Tomisawa; Editing by John Mair)

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