By Kosaku Narioka
Takeda Pharmaceutical reported its second-quarter results on Thursday. Here’s what you need to know.
NET LOSS: The Japanese drugmaker booked a net loss of 48.0 billion yen ($319.5 million) for the three months ended Sept. 30. That compared with estimated net profit of Y70.41 billion in a poll of analysts by Quick and net profit of Y61.7 billion in the year-earlier period.
REVENUE: Second-quarter revenue grew 4.1% from a year earlier to Y1.043 trillion. That was above the estimate of Y973.875 billion in the Quick poll.
WHAT WE WATCHED:
–KEY DRUGS: Revenue growth was driven by several key products. Sales of ulcerative colitis drug Entyvio increased 12% to Y199.7 billion. Meanwhile, sales of Vyvanse, a drug for attention deficit hyperactivity disorder, fell 7.3% to Y103.1 billion, as Takeda lost U.S. market exclusivity for the drug in late August.
–IMPAIRMENTS: Takeda recorded impairment losses for Alofisel, a stem-cell therapy for Crohn’s disease, and lung-cancer drug Exkivity, following unfavorable trial outcomes. As a result, the company lowered its profit forecast for the fiscal year ending March 2024, projecting that net profit would drop 71% to Y93.00 billion.
–STRONGER REVENUE: Takeda raised its fiscal-year revenue forecast, citing a weaker yen. It now projects revenue will drop 1.2% to Y3.980 trillion, compared with its previous view of a 4.7% fall.
Write to Kosaku Narioka at [email protected]
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