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Takeda Pharmaceutical underlying revenue increased 2.8%

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Staff writer |
Takeda
Takeda   The booking was $2.7 billion

With Pharmaceutical underlying revenue growth of 2.8% and underlying core earnings -2.1%, Takeda met its operational guidance for FY2014. Reported revenue grew by 5.1% to 1,777.8 billion yen.

The booking of a $2.7 billion provision to cover the Actos settlement and estimated costs associated with remaining cases and other related litigations, along with other one-time exceptional items, impacted operating profit (-129.3 billion yen), net profit (-145.8 billion yen) and earnings per share (-185 yen).

Revenue growth was driven by new products – mainly Entyvio and Brintellix in the US, Entyvio and Adcetris in Europe, and Azilva in Japan – adding 97.2 billion yen. Performances in the US (+14.5% underlying revenue growth) and Europe and Canada (+5.4%) were very strong.

Emerging Markets grew at 8.1%, with key countries China and Russia both achieving double-digit growth, while several other markets were impacted by a volatile economic environment. Excluding inventory adjustment, sales in Emerging Markets grew 10% year-on-year, in line with our mid-term ambition.

In Japan, new products contributed 35.6 billion yen, a growth of 6.2%, which could not yet overcome the impact from generics and price pressure (Japan total -4.1%).

Project Summit – a company-wide strategic initiative to increase efficiency – delivered savings of 28 billion yen in FY2014, bringing the accumulated total achieved in the first two years to 62 billion yen. Thus, the company has achieved over 50% of its 5-year target of 120 billion yen in just 2 years.


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