Business Wire

Takeda Reports First Half FY2017 Results

Del

Takeda Pharmaceutical Company Limited (TOKYO:4502):

Underlying Revenue growth of 6.7% led by Takeda's Growth Drivers

  • Underlying Revenue grew +6.7% with solid performances across all regions (U.S. +16.7%, Japan +0.3%, Europe & Canada +4.2%, Emerging Markets +3.4%). Takeda's Growth Drivers (GI, Oncology, CNS and Emerging Markets) maintained strong momentum to deliver growth of +14.9%.
    • GI (Gastroenterology) +24.8% fueled by market share growth of ENTYVIO® and TAKECAB®.
    • Oncology +13.2% driven by the expansion of NINLARO® and ADCETRIS®, and the addition of revenue from ICLUSIG® and ALUNBRIGTM.
    • CNS +26.7% with TRINTELLIX® growing +58.7% in the U.S.
    • Emerging Markets +3.4% with strong double-digit growth in the key markets of Russia and Brazil offsetting a temporary decline in China.
  • Reported revenue grew +3.6%, with the positive contribution from Takeda's Growth Drivers and favorable currency impact (+2.4pp) more than offsetting the negative impact of divestitures (-5.5pp).

Double-digit EPS growth reflecting strong revenue growth and progress of Global Opex Initiative

  • Underlying Core Earnings grew +44.4%, reflecting strong revenue growth and margin step up of 5.0pp (+2.7pp gross margin; +2.3pp from OPEX margin). First half earnings growth included some timing benefits.
  • Reported operating profit was up +44.6%, driven mainly by strong Core Earnings growth. The first half result includes one-time gains of 136.8 billion yen, including the sale of shares held in Wako Pure Chemical Ltd., the sale of real estate, and the transfer of additional long-listed products to Teva Takeda Yakuhin Ltd.
  • Underlying Core EPS was up +29.9%, and reported EPS increased +39.2% to 221 yen per share.

Net leverage improved due to steady progress on cash flow

  • Year-to-date Operating Free Cash Flow increased +12.4% to 84.6 billion yen, and the disposal of non-core assets generated an additional 131 billion yen of cash.
  • Net Debt / EBITDA dropped to 2.0x from 2.7x in March 2017.

Christophe Weber, Chief Executive Officer of Takeda, commented:
"Our Growth Drivers continued to deliver robust double-digit revenue growth, which together with our cost management initiatives led to a significant margin expansion. Furthermore, the ARIAD acquisition is delivering ahead of expectations, and the R&D transformation is well advanced. Although we expect headwinds in the second half of the year, we are still confident to raise our outlook for the full year as we execute against our key mid-term priorities of growing the portfolio, rebuilding the pipeline, and boosting profitability."

 

Reported Results for H1 (April - September) FY2017

(billion yen)   FY2016 H1   FY2017 H1   Growth
Reported   Underlying 2
Revenue 850.8 881.4 +3.6% +6.7%
Core Earnings1 131.0 187.1 +42.8% +44.4%
Operating Profit 162.1 234.3 +44.6% -
Net Profit3 124.3 172.8 +39.0% -
EPS 159 yen 221 yen +39.2% -
Core EPS   139 yen   181 yen   +30.0%   +29.9%

1

  Core Earnings is calculated by deducting SG&A expenses and R&D expenses from reported Gross Profit. In addition, certain other items that are non-core in nature and significant in value may also be adjusted.

2

Underlying growth compares two periods of financial results on a common basis, showing the ongoing performance of the business excluding the impact of foreign exchange and divestitures.

3

Attributable to the owners of the company.
 

Takeda raises its full-year outlook despite second half headwinds

  • Increasing Management Guidance and Reported Forecast to reflect favorable year-to-date results. The Reported Forecast also benefits from lower impairment and restructuring expenses compared to the previous forecast.
  • The majority of one-time gains were booked in the first half, and the majority of one-time expenses will be booked in the second half. The outlook also assumes loss of exclusivity of Velcade.
  • Velcade estimates are based on the possible entry of 2 or 3 bortezomib-containing products in the U.S. from November 2017. Depending on various factors there may be an additional opportunity up to 30 billion yen, which will be partly reinvested in the business.
 

FY2017 Management Guidance: Raising underlying profit guidance and Core Earnings margin expansion now expected at ~200bps

    Previous Guidance (growth %)
(May 10, 2017)
  Revised Guidance (growth %)
(Nov 1, 2017)
Underlying Revenue Low single digit Low single digit
Underlying Core Earnings Mid-to-high teen High teen
Underlying Core EPS Low-to-mid teen Mid teen
Annual Dividend per Share   180 yen   180 yen
 

FY2017 Reported Forecast: Increasing Reported Revenue and Earnings forecasts, with EPS increased by 10% to 195 yen per share

(billion yen)   Previous Forecast
(May 10, 2017)
  Revised Forecast

(Nov 1, 2017)

  vs. FY2016
Revenue 1,680.0 1,720.0 -0.7%
Core Earnings 257.5 267.5 +9.1%
Operating Profit 180.0 200.0 +28.3%
Net Profit 138.0 152.0 +32.2%
EPS 177 yen 195 yen +32.3%
Exchange Rate (annual average)   1 US$=110 yen

1 euro=120 yen

  1 US$=112 yen

1 euro=129 yen

   
 

For more details on Takeda's FY2017 first half results and other financial information, please visit https://www.takeda.com/investors/reports/

About Takeda Pharmaceutical Company Limited

Takeda Pharmaceutical Company Limited is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R&D efforts on oncology, gastroenterology and central nervous system therapeutic areas plus vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. New innovative products, especially in oncology and gastroenterology, as well as Takeda’s presence in Emerging Markets, are currently fueling the growth of Takeda. Around 30,000 Takeda employees are committed to improving quality of life for patients, working with Takeda’s partners in health care in more than 70 countries.
For more information, visit https://www.takeda.com/newsroom/.

Contact information

Investor Relations
Takeda Pharmaceutical Company Limited
+81-(0)3-3278-2306
takeda.ir.contact@takeda.com
Media Relations
Takeda Pharmaceutical Company Limited
Tsuyoshi Tada, +81 (0)3-3278-2417
tsuyoshi.tada@takeda.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

The 6th Annual World Patient Safety, Science & Technology Summit Kicked off with an Important Announcement about the Progress Being Made to Save Lives in Hospital Settings24.2.2018 10:00Pressemelding

The 6th Annual World Patient Safety, Science & Technology Summit kicked off with an important announcement about the progress being made to save lives in hospital settings. Nearly 4,600 hospitals in 44 countries have committed to adopting patient safety processes that are proven to eliminate preventable deaths in hospitals. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180224005027/en/ England’s Health and Social Care Secretary, Rt. Hon. Jeremy Hunt, launches groundbreaking new measures on Day One of the 6th Annual World Patient Safety, Science & Technology held in London (Photo: Business Wire) The Patient Safety Movement Foundation has taken on an inspiring and ambitious goal of reducing preventable patient deaths in hospitals to ZERO by 2020. The annual Summit in central London plays a major role in taking on that challenge with the participation of 300 global leaders, medical experts, medical technology CEOs, and patient

WuQi Technologies is Latest Licensee of CCww’s NB-IoT UE Protocol-Stack Software24.2.2018 09:06Pressemelding

Communications Consultants Worldwide Ltd. (CCww), global innovator of 3GPP® technologies, has licensed its NB-IoT protocol-stack software to WuQi Technologies Inc., a leading global developer of highly integrated mixed-signal SoC solutions, and the latest licensee of CCww’s NB-IoT Release 13 UE protocol-stack software. Communications Consultants Worldwide (CCww) is working with WuQi Technologies for the integration of its NB-IoT protocol-stack software onto WuQi Technologies’ highly innovative SoC. This relationship, catalyzed by T2M, is enabling the production of a highly integrated, very low power, NB-IoT SoC chipset targeting IoT Smart City, Smart Home, and wearable applications. CCww’s CEO, Richard Carter, said, “NB-IoT is CCww’s latest cellular Protocol-stack SW. We are excited to be working with WuQi to enable a sector-leading NB-IoT SoC, pushing back boundaries of performance and battery life for the next generation of IoT. See our demonstration at the Mobile World Congress (Hal

IDEMIA and Octo Telematics Reinvent Car Sharing Experience by Adding Facial Recognition to EasyOpen Solution23.2.2018 15:57Pressemelding

IDEMIA, the global leader in Augmented Identity for an increasingly digital world, announces today that it has implemented facial recognition technology on EasyOpen, a solution previously developed with its partner Omoove, a wholly-owned Octo Telematics company, Europe’s leading Shared Mobility technology provider. The digital enrolment process combined with facial recognition technology will securely enroll and authenticate the driver before EasyOpen automatically opens the car. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180223005506/en/ (Photo: Idemia) You will never rent a car the same way thanks to EasyOpen solution that combines IDEMIA’s expertise in secure service enablement and Omoove’s experience in Shared Mobility platforms and on-board technology. The first version of the solution was launched last year and allows drivers, who have already registered on the application, to use their smartphones as a key to open

SM-Optics Unveils First FLEXSET Chip, Paving the Way to Optical Micro Nodes23.2.2018 14:00Pressemelding

SM-Optics launches FLEXSET, a single chip embedding multiple processing functionalities raising the bar for performances, density and architectural flexibility. The FLEXSET is the heart of the Lightmode product family. FLEXSET OTN switching matrix scales from 300Gbps to 1Tbps and can be addressed by ports spanning from traditional low-speed services like 2Mbps over micro-OTN, to layer2 and layer3 over ODUFlex, 100G over ODU4 and 200G over FlexO. Thanks to its embedded capabilities including multi-technology OAM, packet processing, synchronization and fast protection functions, FLEXSET operates by design at the lowest latency performances and features an Intel Stratix 10 FPGA. Following the launch of micro-OTN, a revolutionary approach to efficiently extend OTN protocol to low speed services, the launch of FLEXSET advances the vision of a highly interconnected metro network and of micro nodes. Revolving around functional block elements, micro nodes collapse in few rack units OTN and pho

Bitcoin Miner HashGains’ Crowdsale to Build Green Cloud Mining Data Centers Receives Excellent Response23.2.2018 13:56Pressemelding

HashGains.com, a leading cryptocurrency mining platform, has launched its crowdsale program to build mega cryptocurrency cloud mining data centers in India and Canada which uses renewable energy like wind and solar as source of energy. “With the growing worries around bitcoin mining causing environmental damage, difficulty levels of mining increasing and returns heading southwards, there was no better opportunity but to build green energy data centers which run on free sources of energy like wind and solar, ensuring handsome mining rewards while taking care of environment,” said Mr Anuj Bairathi, CEO & Founder, HashGains, who is crypto enthusiast himself. HashGains is a growing cloud mining platform with more than 10,000 active customers enjoying mining returns and is expected to reach the mark of 1 million customers by 2020. To handle such a massive growth and ever growing demand of customers, it becomes even more important that mega mining centers are planned which can serve needs of

Stratecast Recognizes CARDINALITY as a “10 to Watch in 2018”23.2.2018 13:07Pressemelding

In their new report, “Digital Transformation Means New Tools for New Business” —part of the Global Operations, Orchestration, Data Analytics, and Monetisation (ODAM) stream—Stratecast recognises CARDINALITY for their new approach towards processing big data to deliver applications such as Customer Experience, Operational Intelligence, Network Analytics, Churn Management and Marketing Intelligence. Stratecast identified that the CARDINALITY Perception Platform brings large amounts of data from multiple CSP sources together in order to address a growing group of data analysis needs from different operational work teams and the wider business. It also does this at ingestion rates and storage levels previously thought not practical. "Using design principals tied to microservices and containerized solution components, the platform is a major advancement in meeting CSP data analysis needs at a price untouchable by previously-defined platforms," said Karl Whitelock, Stratecast director of glo