Takeda Posts Lower 1H Profit, Lifts FY22 Outlook

  • Takeda Pharmaceutical Co Ltd's TAK first-half net profit declined 9.2% from the prior year to ¥166.8 billion. Earnings per share fell 8.1% to ¥108.
  • Core net profit grew 9.2% Y/Y to ¥446.7 billion, and core earnings per share were up 34.6% to ¥288.
  • Revenue increased by 10.1% to ¥1.97 trillion. Core revenues climbed 19%, and core revenues at constant exchange rates grew 5.5%.
  • Related: European Regulator Backs Approval Of Takeda's Dengue Vaccine.
  • "Our first half results are driven by strong momentum from our Growth and Launch Products, which grew at 19% year-on-year at a constant exchange rate," said CFO Costa Saroukos.
  • The company upgraded the peak sales estimate for its biggest-selling product, Entyvio, based on the potential for further biologic market growth and share expansion and our updated assumption for biosimilar entry timing.
  • "We look forward to building on our first half business momentum throughout FY2022."
  • Guidance: For FY22, Takeda raised its sales outlook to ¥3,930 billion from the previous guidance of ¥3,690 billion. 
  • The company now expects a net profit of ¥307 billion or ¥198 per share, compared to the previously expected ¥292 billion or ¥188 per share, with core EPS of ¥525, up from the previously expected ¥484.
  • The company now projects an operating profit of ¥530 billion, up from ¥520 billion expected earlier.
  • Price Action: TAK shares closed at $12.97 on Wednesday.
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Posted In: BiotechEarningsNewsGuidanceHealth CareGeneralBriefs
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