Business Wire

MA-TAKEDA-PHARMACEUTICAL

1.2.2024 07:03:27 CET | Business Wire | Press release

Share
Takeda Announces Third-Quarter FY2023 Results; On-Track Towards Full-Year Management Guidance With Strong Momentum in Growth & Launch Products

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,
except
percentages and
per share
amounts)

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
(Non-IFRS)(a)(b)

 

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
(Unchanged from

October 2023)

FY2023

MANAGEMENT GUIDANCE

Core Change at CER (Non-IFRS)
(Unchanged from May 2023)

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

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com
DK

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

Navan Drives Global Travel and Expense Efficiencies at Viessmann Generations Group23.6.2026 10:01:00 CEST | Press release

Global purpose-driven family company improves transparency, cost control and employee experience with Navan Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced its collaboration with Viessmann Generations Group, a global family company with 109 years of entrepreneurial heritage, guided by the purpose of co-creating living spheres for generations to come. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623797613/en/ Global purpose-driven family company improves transparency, cost control and employee experience with Navan Since implementing Navan in 2023, Viessmann Generations Group has increased transparency, reduced manual effort and improved the employee experience across travel and expense. Before partnering with Navan, Viessmann Generations Group managed travel and expense processes across several tools and workflows. Employees faced long support wait times, while the finan

ISOPLUS Selects Navan to Consolidate Global Travel and Expense Operations23.6.2026 10:00:00 CEST | Press release

Leading manufacturer of pipe systems deploys AI-powered platform to establish policy control, eliminate manual accounting, and drive measurable cost savings Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced it has been selected by ISOPLUS, a leading manufacturer of pre-insulated pipe systems for district heating and cooling, to consolidate its global travel and expense program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623669736/en/ Leading manufacturer of pipe systems deploys AI-powered platform to establish policy control, eliminate manual accounting, and drive measurable cost savings Following the success of Navan’s partnership with the wider Viessmann Generations Group, ISOPLUS has chosen to consolidate its travel and expense operations with Navan – moving away from significant unmanaged travel and expense. “Navan automates that tedious work and gives us the real-ti

Infobip and Digitas Middle East Sign Expansion of Their Strategic Partnership to Power AI-Driven Customer Engagement for Global Brands23.6.2026 10:00:00 CEST | Press release

The global AI-first cloud communications platform Infobip, today announced a partnership with Digitas, the Marketing Transformation arm of the Publicis Groupe, the world's foremost communications agency holding group. Under the partnership, Infobip and Digitas ME will build a joint service practice around the Infobip AgentOS platform, bringing together Infobip's enterprise communications infrastructure and Publicis Groupe’s deep capabilities in data, AI, customer experience strategy, and media transformation. The partnership is supported by a global framework agreement with the roll out starting across MENA and APAC initially. The collaboration addresses a growing need: bringing together marketing transformation, AI-driven personalisation, and real-time business messaging into a single, coherent customer experience. Where Publicis Groupe shapes how global brands engage their customers, across media, data, loyalty, and commerce, Infobip provides the communication infrastructure to make

Hytera Launches W60 Wearable MCS Radio to Extend Mission-Critical Communication Beyond PMR Coverage23.6.2026 09:58:00 CEST | Press release

Hytera, a leading global provider of critical communications technologies and solutions, launched the W60 Wearable MCS Radio at Critical Communications World (CCW) 2026. Designed to complement existing PMR systems, the lightweight wearable device helps organizations maintain mission-critical communications beyond the coverage limits of traditional radio networks, supporting safer and more connected operations across public safety, transportation, energy, and industrial sectors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260622677096/en/ W60 Wearable MCS Radio for connected operations beyond PMR coverage Extending Communication Beyond PMR Coverage Maintaining reliable communications in basements, tunnels, underground facilities, and other hard-to-cover environments remains a challenge for many organizations. Expanding PMR infrastructure in these locations often requires significant investment and deployment time. The W60

Samsung Unveils Industry's Fastest UFS 5.0 Solution for Next-Gen On-Device AI Applications23.6.2026 09:10:00 CEST | Press release

Samsung’s UFS 5.0 solution achieves industry's highest data transfer speed of 10.8GB/s, enabling faster storage and processing in mobile memoryEnhanced power efficiency and smaller package to provide optimal mobile AI experiences Samsung Electronics Co., Ltd., the world leader in advanced memory technology today announced that, for the first time in the industry, it has developed the industry's fastest Universal Flash Storage (UFS) 5.0 solution, which will help enable seamless and highly efficient AI services on future mobile devices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623632789/en/ Samsung Unveils Industry's Fastest UFS 5.0 Solution for Next-Gen On-Device AI Applications The milestone sets a new benchmark for the next-generation mobile memory market as the enhanced performance is expected to allow mobile device users with significantly reduced latency and faster response times when running large language mode

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
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye