Takeda Pharmaceutical Reports Second-Quarter Results

by webmaster

Takeda Pharmaceutical recently released its second-quarter results for the fiscal year ending March 2024. Here are the key highlights:

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Net Loss

During the three months ended September 30, Takeda Pharmaceutical experienced a net loss of 48.0 billion yen ($319.5 million). This is in stark contrast to the estimated net profit of Y70.41 billion in a poll of analysts by Quick, as well as the net profit of Y61.7 billion recorded in the same period last year.

Revenue Growth

Second-quarter revenue saw a significant increase of 4.1% compared to the previous year, reaching Y1.043 trillion. This surpassed the estimated revenue of Y973.875 billion according to the Quick poll.

Key Drugs

Takeda Pharmaceutical’s revenue growth can be attributed to the success of several key products. Sales of the ulcerative colitis drug, Entyvio, increased by 12% to Y199.7 billion. However, sales of Vyvanse, a drug for attention deficit hyperactivity disorder, faced a decline of 7.3% to Y103.1 billion. This drop was a result of Takeda losing exclusivity in the U.S. market for Vyvanse in late August.

Impairments

Takeda Pharmaceutical experienced impairment losses for both Alofisel, a stem-cell therapy for Crohn’s disease, and Exkivity, a lung-cancer drug. These losses were incurred due to unfavorable trial outcomes. Consequently, the company has revised its profit forecast for the fiscal year ending March 2024 and now expects a 71% drop in net profit, projecting it to be Y93.00 billion.

Revised Revenue Forecast

On a more positive note, Takeda Pharmaceutical has raised its fiscal-year revenue forecast, attributing it to the weakening yen. The company now projects a slight decrease of 1.2% in revenue, estimating it to be Y3.980 trillion. This revision is an improvement compared to their previous forecast, which predicted a 4.7% fall.

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