Takeda Posts Lower 1H Profit, Lifts FY22 Outlook - Takeda Pharmaceutical (OTC:TKPHF), Takeda Pharmaceutical (NYSE:TAK)

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.