Takeda maintains full-year outlook as sales, profit climb in Q1

Headline results for the first quarter:

  • Revenue: JPY 949.6 billion ($8.7 billion; forecasts of JPY 851 billion), up 18.4%
  • Profit: JPY 200.4 billion ($1.8 billion; forecasts of JPY 138 billion), up 142.8%

Note: All changes are versus the prior-year period unless otherwise stated

What the company said:

"Takeda’s first-quarter results demonstrate the continued strength of our 14 global brands and, with the business momentum from this strong start to our fiscal year, we remain on track towards our full-year management guidance," remarked chief financial officer Costa Saroukos.

The company's quarterly profit gained a boost after it sold a portfolio of type 2 diabetes products in Japan to Teijin Pharma for JPY 133 billion ($1.2 billion).

Other results:

  • Gastroenterology product sales: JPY 210.5 billion ($1.9 billion), up 12.6%
    • Entyvio: JPY 125.4 billion ($1.1 billion), up 23.9%
  • Rare diseases product sales: JPY 155.5 billion ($1.4 billion), up 0.3%
    • Rare haematology product sales: JPY 72.2 billion ($657 million), down 5.9%
      • Advate: JPY 30.7 billion ($283 million), down 8.9%
    • Hereditary angioedema product sales: JPY 39 billion ($356 million), up 1.8%, impacted by phasing
      • Takhzyro: JPY 25.5 billion ($237 million), up 9.6%
      • Firazyr: JPY 6.9 billion ($64 million), down 15.1%
  • Oncology product sales: JPY 121.4 billion ($1.1 billion), up 12.4%, driven by indication expansion across the portfolio
    • Velcade: JPY 30.1 billion ($274 million), up 24.6%
    • Ninlaro: JPY 24.4 billion ($219 million), up 6.3%
    • Adcetris: JPY 17.2 billion ($155 million), up 14.2%
  • Neuroscience product sales: JPY 113.4 billion ($1 billion), up 6.1%, boosted by the "strong rebound" of Vyvanse following the impact of COVID-19 in the prior year
    • Vyvanse/Elvanse: JPY 79.2 billion ($720 million), up 20%
    • Trintellix: JPY 17.9 billion ($164 million), up 5.9%
  • Plasma-derived therapy/immunology sales: JPY 107.2 billion ($976 million), up 1.8%, impacted by phasing of immunoglobulin products

Looking ahead:

Takeda continues to expect mid-single-digit revenue growth in fiscal year 2021 to JPY 3.4 trillion ($31 billion), with profit of JPY 250 billion ($2.3 billion).

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