Business Wire

TAKEDA-PHARMACEUTICAL

10.5.2016 08:03:15 CEST | Business Wire | Press release

Share
Takeda Reports Results for Fiscal Year 2015 (April 2015 – March 2016) and Forecast for Fiscal Year 2016

Takeda Pharmaceutical Company Limited (TOKYO:4502):

 
FY2015: A year of turnaround to sustained growth; achieved full year management guidance
 

 

Underlying revenue up +3.4% (reported revenue growing +1.7% to 1,807.4 billion yen), led by strong performances in Takeda's growth drivers (GI, Oncology, CNS and Emerging Markets)

Underlying Core Earnings up +8.1% (reported operating profit recorded 130.8 billion yen), aided by cost discipline

Underlying Core EPS up +21.7% (reported EPS was 102 yen), growing 2.5x faster than underlying core earnings

 
Growth Drivers continued to be robust

Consolidated underlying revenue growth of Gastroenterology (GI), Oncology, Central Nervous System (CNS) and Emerging Markets – Takeda's Growth Drivers – was +9.5% year-to-year

Underlying revenue of GI +23.6%, Oncology +1.0%* and CNS +37.3% year-to-year

Emerging Markets underlying revenue +4.8% year-to-year with continued growth in the key markets of China, Russia and Brazil

*Underlying growth of Oncology excluding VELCADE royalties was +4.4%

 

Broad portfolio of growing products offsets loss of exclusivity decline

ENTYVIO(®) is on track to exceed $2 billion MAT* sales within FY2018

Encouraging uptake of NINLARO(®) and TAKECAB(®)

BRINTELLIX(®) and ADCETRIS(®) showed continued growth

AZILVA(®) and LOTRIGA(®) are contributing to the Japan business

*Moving Annual Total @ constant currency

 
Efficiency gains continue

Project Summit well exceeded full-year target resulting in 30 billion yen additional cost savings

Strong cash flow performance with Operating Free Cash Flow, excluding Actos settlement payment, reaching 230 billion JPY

 
FY2016 management guidance: A year of strategic focus to sustain growth

Underlying Revenue: Mid-single digit growth (%)

Underlying Core Earnings: Low- to mid-teen growth (%)

 

 

Underlying Core EPS: Low- to mid-teen growth (%)

 

Christophe Weber, President and Chief Executive Officer of Takeda, commented:
"FY2015 was a turnaround year. We achieved our management guidance for the second consecutive year, led by our growth drivers, and aided by the global launches of new products such as ENTYVIO and NINLARO. Takeda will continue to deliver innovative new medicines to patients, especially in our focused R&D therapeutic areas. Takeda aims to relentlessly execute our strategic roadmap to deliver our long-term aspiration, and will serve the needs of the patients, with the best in class agility and innovation."

 

Key figures for the full

year of FY2015 (April 2015 –March 2016)

  FY 2014   FY 2015   Growth
(billion yen)     Underlying2
Revenue 1,777.8 1,807.4 +1.7% +3.4%
Operating Profit -129.3 130.8
Core Earnings 1 288.3 292.4 +1.4% +8.1%
Net Profit 3 -145.8 80.2
EPS -185 yen 102 yen
Core EPS   225 yen   258 yen   +14.8%   +21.7%

1

  Core Earnings is calculated from operating profit by excluding the impact of exceptional items, such as purchase accounting, amortization and impairment loss of intangible assets, restructuring costs and major litigation costs.

2

Underlying performance aims at understanding the real performance of the business. Underlying Revenue, Underlying Core Earnings, and Underlying Core EPS exclude the same as above and adjusted for acquisitions/divestments and foreign exchange.

3

Attributable to the owners of the company
 

Underlying revenue growth was mainly driven by Takeda's Growth Drivers: Gastroenterology(GI), Oncology, and Central Nervous System (CNS) in addition to Emerging Markets. The Growth Drivers account for 52% of Takeda's revenue. GI revenue grew by +23.6% year-to-year, driven by ENTYVIO® . Oncology revenue increased by +1.0%, contributed by VELCADE® , ADCETRIS® and NINLARO® , which has shown an encouraging start in the U.S. since it was launched in December,. Oncology revenue excluding VELCADE royalties grew +4.4%. CNS revenue, including BRINTELLIX® , increased by +37.3%. Emerging Markets revenue grew by +4.8% year-to-year, led by Value Brands (branded generics and Over-The-Counter medicines), with steady growth in China (+11.1%), Russia (+6.2%) and Brazil (+5.7%). However, our future aspiration for growth in Emerging Markets remains strong, in high single digits. Performance in the U.S. (+12.4% year-to-year underlying revenue growth) also contributed to total revenue growth. In Japan, which remains under increasing generic pressure, underlying revenue declined -3.3% year-to-year, but AZILVA® and LOTRIGA® showed significant sales growth of +30.1% and +69.0%, respectively, year-to-year. In addition to these growing products, TAKECAB® and ZAFATEK® are expected to be key sales drivers in Japan after the lifting of the 2-week limit on the prescription period.

Consolidated operating profit was 130.8 billion yen, an increase of 260.1 billion yen compared to the previous year, which exceeded the raised forecast of 120 billion yen announced in February at the FY2015 3rd quarter earnings announcement. Selling, general and administrative expenses increased by 38.2 billion yen (+6.2%) compared to the previous year, mainly due to the increase in sales expenses related to new products in the U.S., but R&D expenses decreased by 36.2 billion yen (-9.5%). Amortization and impairment losses on intangible assets associated with products decreased by 51.3 billion yen (-29.1%), mainly due to 30.5 billion yen of COLCRYS® impairment loss being recognized in 2014 compared to an 8.6 billion yen impairment reversal in fiscal 2015. Other operating income decreased by 82.1 billion yen (-76.6%), mainly due to 53.8 billion yen of revaluation of COLCRYS® contingent consideration liability and 32.8 billion yen of the gains on sales of real estate being recognized in the previous year. Other operating expenses decreased by 277.8 billion yen (-86.2%), mainly due to 274.1 billion yen of loss on Actos litigation in the U.S. being recognized in the previous year.

Project Summit – a company-wide strategic initiative to increase efficiency – continued to produce results, with 30 billion yen of additional savings in FY2015, exceeding the full year target as a result of higher Procurement savings.

As part of its ongoing effort to improve R&D productivity, Takeda is focusing on its core therapeutic areas of Oncology, GI and CNS. Takeda will further strengthen its initiatives and commitment to lead innovation in medicines and provide innovative new drugs to patients around the world including in emerging markets.

FY2015 was positioned for Takeda as a year of turnaround to sustained growth, and Takeda sets the following management guidance for FY2016 as a year of strategic focus to sustain growth.

 

Management Guidance for FY2016

     
  Underlying Growth (%)  
Underlying Revenue Mid-single digit
Underlying Core Earnings Low- to mid-teen
Underlying Core EPS Low- to mid-teen
Dividend per Share   180 yen  
 

Reported Forecast for FY2016

(change vs. FY2015 results)

billion yen FY 2016 1   Change
Revenue 1,720.0 -4.8%
R&D expenses 325.0 -6.0%
Operating Profit 135.0 +3.2%
Net Profit 2 88.0 +9.8%
EPS   112 yen   +9.8%
1   The exchange rate assumptions for FY2016 are 1US$=110 yen and 1 euro=125 yen
2 Attributable to the owners of the company
 

For more details on Takeda’s FY2015 full year results and other financial information, please visit http://www.takeda.com/investor-information/results/

About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited (TOKYO:4502 ) is a global, R&D-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its research efforts on oncology, gastroenterology and central nervous system therapeutic areas. It also has specific development programs in specialty cardiovascular diseases as well as late-stage candidates for vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. New innovative products, especially in oncology, central nervous system and gastroenterology, as well as its presence in emerging markets, fuel the growth of Takeda. More than 30,000 Takeda employees are committed to improving quality of life for patients, working with our partners in health care in more than 70 countries. For more information, visit http://www.takeda.com/news .

Contact:

Takeda Pharmaceutical Company Limited
Investor Relations
Noriko Higuchi, +81-(0)3-3278-2306
noriko.higuchi@takeda.com
or
Media Relations
Japanese media
Tsuyoshi Tada, +81 (0)3-3278-2417
tsuyoshi.tada@takeda.com
or
Media outside Japan
Jocelyn Gerst, +1-224-554-5542
jocelyn.gerst@takeda.com

Link:

ClickThru

About Business Wire

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

http://businesswire.com

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

Murata Begins Mass Production of Seven Automotive MLCCs with World-leading Capacitance for Their Rated Voltage and Size, Supporting Stable Operation of In-vehicle Systems and Greater Design Flexibility8.4.2026 04:00:00 CEST | Press release

Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) has begun mass production of seven AEC-Q200-qualified multilayer ceramic capacitors (MLCCs) that achieve the world’s largest capacitance for a given rated voltage and size*, supporting stable operation of in-vehicle systems and greater design flexibility. Five parts in the GCM series are rated at 2.5-4 Vdc, targeting IC peripheral circuits in advanced driver assistance systems (ADAS) and autonomous driving (AD) applications. The remaining two MLCCs are rated at 25 Vdc for in-vehicle power line applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260407486750/en/ [Murata Manufacturing Co., Ltd.] Seven automotive MLCCs In recent years, as ADAS and AD technologies advance, the number and performance level of systems installed in vehicles have continued to increase. As a result, demand for higher capacitance low-voltage MLCCs used around ICs has grown to e

Compass Pathways Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)7.4.2026 22:30:00 CEST | Press release

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that Compass granted equity awards under the Compass Pathways plc 2026 Inducement Plan to seven newly hired non-executive employees. The equity awards were granted on April 1, 2026 and consisted of options to purchase an aggregate of 117,445 shares and restricted share units or, in the case of employees in the United Kingdom nominal cost options, covering an aggregate of 55,875 shares. The options have an exercise price per share equal to $5.62, the closing price of the Company’s American Depositary Shares on the Nasdaq Global Select Market on the grant date, and will vest over a four-year period with 25% vesting on the first anniversary of the date of the grant and the remaining 75% vesting in equal monthly installments over the three-year period thereafter, subject to each employee’s continued employment. The restricted s

SLB OneSubsea and Subsea7 Sign Collaboration Agreement with PETRONAS Suriname7.4.2026 22:05:00 CEST | Press release

Partnership enables early engagement to co-develop cost-effective solutions and accelerate subsea development in Suriname Global energy technology company SLB (NYSE: SLB) today announced the signing of a strategic collaboration agreement between PETRONAS Suriname E&P B.V. (“PETRONAS Suriname”), a subsidiary of PETRONAS and Subsea Integration Alliance, comprising SLB OneSubsea and Subsea7. This partnership aims to unlock resources in Suriname’s emerging frontier basin through innovative and cost-effective subsea solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260331210557/en/ SLB OneSubsea has signed a strategic collaboration agreement between PETRONAS Suriname E&P B.V. (“PETRONAS Suriname”), a subsidiary of PETRONAS and Subsea Integration Alliance, comprising SLB OneSubsea and Subsea7. This partnership aims to unlock resources in Suriname’s emerging frontier basin through innovative and cost-effective subsea soluti

Nadia Karkar Joins 500 Global as Managing Partner7.4.2026 19:43:00 CEST | Press release

Former TPG Rise executive joins as Managing Partner as the firm expands its global investment platform. 500 Global today announced the appointment of Nadia Karkar as Managing Partner as the firm expands its global investment platform. Nadia’s appointment follows the recent announcement of the appointment of Atul Mehta — former Chief Investment Officer of the International Finance Corporation — to 500 Global's Board of Directors, and reflects the firm's continued build-out of the leadership and capabilities required to deliver on its next stage of global growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260407719214/en/ Nadia Karkar Joins 500 Global as Managing Partner Nadia joins from TPG Rise, the $31 billion impact investing platform of TPG Inc., where she most recently served as Head of Business Development, responsible for product innovation, strategic partnerships and corporate development. She played a central rol

Mouser Electronics Explores How Artificial Intelligence Shapes Everyday Technologies and Experiences7.4.2026 17:11:00 CEST | Press release

Mouser Electronics, Inc., the authorized global distributor with the newest electronic components and industrial automation products, today announced the first 2026 installment of its Empowering Innovation Together (EIT) technology series, Engineering AI for Daily Life. This installment explores how artificial intelligence is increasingly embedded in everyday products and services, from assisted search and messaging tools to healthcare wearables that monitor personal well-being. As AI capabilities expand across consumer and connected devices, engineers continue to design systems that make these technologies more useful, intuitive, and trustworthy in real-world applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260407524737/en/ This installment of Empowering Innovation Together explores how AI is increasingly embedded in everyday products and services, from assisted search and messaging tools to healthcare wearables

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