MA-TAKEDA-PHARMACEUTICAL
1.2.2024 07:03:27 CET | Business Wire | Press release
Takeda (TOKYO:4502/NYSE:TAK) today announced financial results for the third quarter of fiscal year 2023 (period ended December 31, 2023). With year-to-date strong momentum in its Growth & Launch Products (+12.7% at CER) offsetting the significant revenue impact of generic entrants, Takeda remains on track towards its full-year Management Guidance.
Takeda chief financial officer, Costa Saroukos, commented:
“In FY2023 Q3 we made further progress in our vision to discover and deliver life-transforming treatments, receiving two new U.S. FDA approvals and broadening the reach of our existing portfolio with multiple life-cycle management approvals for our Growth & Launch Products.
“We remain on track towards our full-year Management Guidance at CER, reflecting significant generic impact, lower coronavirus vaccines revenue and investment in R&D and data, digital and technology to secure our long-term competitiveness, as well as continued strong momentum in our Growth & Launch Products.
“We continue to improve our debt profile with 100% of our debt now at fixed interest rates averaging 1.6%, and our financial foundation remains strong as we enter the fourth quarter of FY2023.”
FINANCIAL HIGHLIGHTS |
|||||
Results for FY2023 Q3 YTD Ended December 31, 2023 |
|||||
(Billion yen,
|
REPORTED |
CORE(c)
(Non-IFRS)(a)
|
|||
FY2023 Q3 YTD |
vs. PRIOR YEAR (Actual % change) |
FY2023 Q3 YTD |
vs. PRIOR YEAR (Actual % change) |
vs. PRIOR YEAR (CER % change(d)) |
|
Revenue |
3,212.9 |
+4.6% |
3,212.9 |
+4.6% |
+0.0% |
Operating Profit |
224.1 |
-44.2% |
865.6 |
-9.3% |
-12.7% |
Margin |
7.0% |
-6.1pp |
26.9% |
-4.1pp |
|
Net Profit |
147.1 |
-48.6% |
643.6 |
-9.0% |
-12.2% |
EPS (yen) |
94 |
-48.9% |
412 |
-9.7% |
-12.9% |
Operating Cash Flow |
437.8 |
-36.0% |
|
|
|
Free Cash Flow
|
36.3 |
-93.8% |
|
|
|
(a) Further information regarding certain of Takeda’s Non-IFRS measures is posted on Takeda’s investor relations website at https://www.takeda.com/investors/financial-results/quarterly-results/. |
|||||
(b) We define Free Cash Flow as cash flows from operating activities, subtracting acquisition of property, plant and equipment (“PP&E”), intangible assets and investments as well as removing any other cash that is not available to Takeda’s immediate or general business use, and adding proceeds from sales of PP&E, as well as from sales of investments and businesses, net of cash and cash equivalents divested. |
|||||
(c) Core results adjust our reported results calculated and presented pursuant to IFRS to exclude the effect of items unrelated to Takeda’s core operations, such as, to the extent applicable for each line item, non-recurring items, purchase accounting effects and transaction related costs, as well as amortization and impairment of intangible assets and other operating income and expenses. |
|||||
(d) CER (Constant Exchange Rate) change eliminates the effect of foreign exchange rates from year-over-year comparisons by translating Reported or Core results for the current period using corresponding exchange rates in the same period of the previous fiscal year. |
|||||
FY2023 OUTLOOK |
||
On track towards full-year FY2023 Management Guidance |
||
(Billion yen except per share amounts) |
FY2023
FORECAST
October 2023) |
FY2023 MANAGEMENT GUIDANCE
Core Change at CER (Non-IFRS)
|
Revenue |
3,980.0 |
|
Core Revenue |
3,980.0 |
Low-single-digit % decline |
Reported Operating Profit |
225.0 |
|
Core Operating Profit |
1,015.0 |
Low-10s % decline |
Reported Net Profit |
93.0 |
|
Reported EPS (yen) |
59 |
|
Core EPS (yen) |
447 |
Low-20s % decline |
Free Cash Flow* |
400.0-500.0 |
|
Annual Dividend per Share (yen) |
188 |
|
*Free Cash Flow forecast reflects expenditures related to the acquisition of TAK-279 from Nimbus and in-licensing of FRUZAQLA (fruquintinib) from HUTCHMED.
Additional Information About Takeda’s FY2023 Q3 Earnings Results
For more details on Takeda’s FY2023 Q3 results and other financial information, including key assumptions in FY2023 forecast and management guidance, please visit: https://www.takeda.com/investors/financial-results/quarterly-results/
For more information on Takeda’s commercial progress across the five key business areas and pipeline updates, please visit: https://takeda.info/qr2023_q3_qfr_en
About Takeda
Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit www.takeda.com.
Important Notice
For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this press release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.
The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
The product names appearing in this document are trademarks or registered trademarks owned by Takeda, or their respective owners.
Forward-Looking Statements
This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could”, “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations, including global health care reforms; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); the extent to which our internal energy conservation measures and future advancements in renewable energy or low carbon energy technology will enable us to reduce our greenhouse gas emissions; and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/sec-filings-and-security-reports/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this report or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this report may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.
Financial information and Certain Non-IFRS Financial Measures
Takeda’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
This press release and materials distributed in connection with this press release include certain financial measures not presented in accordance with IFRS, such as Core Revenue, Core Operating Profit, Core Net Profit, Core EPS, Constant Exchange Rate (“CER”) change, Net Debt, EBITDA, Adjusted EBITDA and Free Cash Flow. Takeda’s management evaluates results and makes operating and investment decisions using both IFRS and non-IFRS measures included in this presentation. These non-IFRS measures exclude certain income, cost and cash flow items which are included in, or are calculated differently from, the most closely comparable measures presented in accordance with IFRS. By including these non-IFRS measures, management intends to provide investors with additional information to further analyze Takeda’s performance and core results, including when controlling for the effect of fluctuations in exchange rates. Takeda’s non-IFRS measures are not prepared in accordance with IFRS and such non-IFRS measures should be considered a supplement to, and not a substitute for, measures prepared in accordance with IFRS (which we sometimes refer to as “reported” measures). Investors are encouraged to review the definitions and reconciliations of non-IFRS financial measures to their most directly comparable IFRS measures, which are in the financial appendix at the end of Takeda's FY2023 Q3 investor presentation (available at takeda.com/investors/financial-results/quarterly-results/).
Medical information
This press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development.
Please refer to slide 17 of Takeda’s FY2023 Q3 investor presentation (available at takeda.com/investors/financial-results/quarterly-results/) for the definition of Growth & Launch Products.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240131987348/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Draslovka to Acquire ex-Natron Energy Battery IP, Completing a Vertically Integrated Western Sodium-Ion Value Chain29.10.2026 14:30:00 CET | Press release
Acquisition gives Draslovka control of former Natron Energy IP portfolio spanning sodium-ion materials, cells and complete battery systems. Deal combines acquired IP with Draslovka’s existing chemistry and European cathode-material capabilities, bringing key parts of the sodium-ion value chain together within one Western-aligned group and its partners. The IP acquisition strengthens Draslovka’s position across the emerging Western sodium-ion battery value chain. Technology targets applications where safety, high power, long cycle life and performance across a wide temperature range are critical, including data centers, grid storage, defense, industrial fleets, telecoms, rail and aviation. The acquired IP will substantively boost Draslovka’s technology offering, a portfolio of transformative and protected innovations for specific industries. Draslovka’s US-based subsidiary, COVORO MINING SOLUTIONS LLC (Covoro), the operator of one of the largest solid sodium cyanide plants in the world,
Veracode Finds First Meaningful Gain in AI Code Security Since 2025 as Average Pass Rate Hits 62%29.10.2026 14:27:00 CET | Press release
October 2026 Study: Anthropic’s Claude Opus 5.5 and OpenAI’s GPT-6-Sol Jointly Lead at a Record 73%, Breaking the Previous High of 68% Veracode, the global leader in application risk management, today announced a jump from 56 percent to 62 percent in overall AI-generated code security, alongside a drop in vulnerabilities from 44 percent to 38 percent — the most significant improvement since the GenAI Code Security Report series began in July 2025. Anthropic's Claude Opus 5.5 and OpenAI's GPT-6-Sol co-lead the rankings at 73 percent, surpassing the previous high of 68 percent set by GPT-5.5 in July 2026. “We’ve been analysing code generated by multiple LLMs for more than a year. Until now, we have not seen a marked improvement in AI code security, despite consistently near-perfect functionality,” said Chris Wysopal, Co-founder & Chief Security Evangelist at Veracode. “This is the first time since running our study that we’ve been able to report a meaningful move on the security dial. Te
LeBron James Deepens Commitment to WHOOP, Expanding 11-Year Relationship29.10.2026 14:00:00 CET | Press release
One of the first 100 WHOOP members, James strengthens his commitment to the human performance company as the two partner to advance the future of performance, health, and longevity. WHOOP, the human performance brand, today announced that basketball legend LeBron James has joined as a global ambassador, formalizing a relationship that began more than a decade ago. One of the company's earliest members and now an investor, James will partner with WHOOP to champion the importance of sustained athletic excellence and everyday vitality. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261029868502/en/ LeBron James Deepens Commitment to WHOOP, Expanding 11-Year Relationship James began wearing WHOOP in 2015, long before continuous health monitoring became mainstream. Today, on the 23rd anniversary of his NBA debut, the 41-year-old continues to compete at the highest level of professional basketball. His decision to formalize the pa
Xsolla Acquires GamePix to Build a Complete Platform for Web and AI-Created Video Games29.10.2026 14:00:00 CET | Press release
GamePix’s Web Publishing and Distribution Join Xsolla’s Global Commerce Infrastructure, Giving Developers One Path From Video Game to Players Worldwide Xsolla, a global commerce company, today announced it acquired GamePix, the web games platform that publishes and distributes browser games worldwide. GamePix brings a catalog of 10,000+ web titles, a community of 4,000+ developers, and a publishing solution that brings any game to your web browser, from PC and mobile titles ported with its own technology to video games built with AI. Xsolla adds this commerce infrastructure to monetize those video games across 200+ geographies. Together, they give developers a single path from a finished video game to a paying, global audience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261021024495/en/ Graphic: Xsolla Edouard Wawra, Valerio Pullano and Justine Silipo founded GamePix in 2013, when web games still ran on Flash. Since then
IFCO Demonstrates Sustainability Leadership by Combining Record Environmental Performance With Business Growth29.10.2026 13:38:00 CET | Press release
IFCO’s ESG Report 2026 highlights 833k metric tons of carbon emissions avoided in customer supply chains and a record 2.6 billion reusable packaging trips. IFCO, a global leader in reusable packaging solutions for fresh food, today published its ESG Report 2026. The report covers July 1, 2025, to June 30, 2026 and marks the first year of reporting against IFCO's Thriving with Purpose 2030 ESG strategy. During fiscal year 2026, the company managed an impressive 2.6 billion reusable packaging container (RPC) trips while reducing material greenhouse gas emissions by 11%. At the same time, customers using IFCO RPCs avoided 832,970 metric tons of CO₂e emissions, an increase of 13% compared with the previous year. Michael Pooley, CEO of IFCO: "The first year of our Thriving with Purpose 2030 ESG strategy showed that growth and sustainability go hand in hand. By expanding our network, investing in IFCO Digital, and scaling our circular model for reusable transport packaging, we are building a
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom
