Takeda Pharmaceutical said on Thursday its CEO Christophe Weber will retire after more than a decade at the helm of Japan's biggest drugmaker as the company upped its full-year profit outlook. Julie Kim,

Analysts were unfazed by the news that Takeda will cease development of soticlestat after Phase III failures, while responding positively to the announcement that Julie Kim will take the helm of the Japanese giant in 2026.

Takeda Pharmaceutical Co.’s board has selected Julie Kim, the head of the company’s US unit, to replace Christophe Weber as the drugmaker’s new chief executive officer.