Business Wire

Takeda Reports Q3 FY2016 Results and Improves Year-End Outlook

1.2.2017 06:00 | Business Wire

Del

Takeda Pharmaceutical Company Limited (TOKYO: 4502):

Strong Q3 year-to-date (YTD) results propelled by Growth Drivers

  • Underlying Revenue grew +7.4%, with Takeda's Growth Drivers (GI, Oncology, CNS and Emerging Markets) delivering growth of +15.5%, and Underlying Revenue growth across all regions (U.S. +14.4%, Japan +5.0%, Europe & Canada +4.6%, Emerging Markets +4.9%).
    Reported revenue declined -5.6%, due to unfavorable currencies (-8.4pp) and the impact of divestitures (-4.5pp).
  • Underlying Core Earnings grew +23.5%, with the Core Earnings margin increasing by 2.1pp. Despite unfavorable currencies and the negative impact of divestitures, reported operating profit was up +29.8%, benefiting from strong underlying growth and a one-time gain on the Teva JV transaction that was booked in Q1 FY2016.
  • Underlying Core EPS was up +31.7%, reflecting strong Core Earnings growth and a lower tax rate due to timing. Reported EPS was 212 yen, an increase of +46.3% from 145 yen in the prior year.
  • Adjusted Operating Free Cash Flow was up +9.3% to 120.0 billion yen.

Takeda's Growth Drivers delivered +15.5% Underlying Revenue growth

  • GI underlying revenue +37.9%, driven by ENTYVIO® and TAKECAB®.
  • Oncology underlying revenue +6.3%, supported by uptake of NINLARO® and ADCETRIS®.
  • CNS underlying revenue +28.3%, underpinned by strong performance of TRINTELLIX®.
  • Emerging Markets underlying revenue +4.9%, with robust growth in the key markets of Brazil (+9.5%), China (+8.0%) and Russia (+7.3%).

Christophe Weber, President and Chief Executive Officer of Takeda, commented:

"Our impressive year-to-date performance is evidence of how our strategic transformation is driving profitable growth. We are pleased to report that Takeda's Growth Drivers (GI, Oncology, CNS and Emerging Markets) have maintained their strong momentum, driven in particular by the continued success of ENTYVIO and NINLARO. This gives us the confidence to improve the full-year outlook for FY2016. Furthermore, we continue to make strong progress against our strategic transformation. In December, we announced our plan to sell Takeda's shareholding in Wako Pure Chemical, and in January, we announced our plan to acquire ARIAD Pharmaceuticals. This deal will significantly enhance our global oncology portfolio and create value for our shareholders."

 

Reported Results for Q3 FY2016 YTD (April – December)

(billion yen)   FY2015   FY2016   Growth
  Q3 YTD Q3 YTD Reported   Underlying 2
Revenue 1,393.3 1,315.8 -5.6% +7.4%
Core Earnings1 267.9 228.3 -14.8% +23.5%
Operating Profit 167.5 217.4 +29.8% N/A
Net Profit3 113.6 165.7 +45.8% N/A
EPS 145 yen 212 yen +46.3% N/A
Core EPS   240 yen   229 yen   -4.4%   +31.7%

1

  Core Earnings is calculated by taking reported Gross Profit and deducting SG&A expenses and R&D expenses. 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 from both periods.

3

Attributable to the owners of the company.
 

FY2016 Management Guidance: Takeda increases management guidance for Underlying Core
Earnings to "High-teen growth" and Underlying Core EPS to "Mid-teen growth"

    Previous Guidance (Oct 28, 2016)   Revised Guidance (Feb 1, 2017)
Underlying Revenue Mid-single digit growth (%) Mid-single digit growth (%)
Underlying Core Earnings Mid- to high-teen growth (%) High-teen growth (%)
Underlying Core EPS Low- to mid-teen growth (%) Mid-teen growth (%)
Annual Dividend per Share   180 yen   180 yen
 

FY2016 Reported Forecast: increased Core Earnings of 16-17 billion yen will offset accelerated
R&D transformation costs
1 and potential impacts of the ARIAD acquisition 2

(billion yen)   Previous Forecast (Oct 28, 2016)   Revised Forecast (Feb 1, 2017)
Revenue 1,670.0 1,700.0
R&D Expenses -310.0 -315.0
Operating Profit 135.0 135.0
Net Profit 3 91.0 93.0
EPS 116 yen 119 yen
Exchange Rate
(annual average)
  1 US$=104 yen
1 euro=117 yen
  1 US$=109 yen
1 euro=120 yen
1   The revised forecast includes costs related to the R&D transformation program of 47 billion yen in FY2016 (previous forecast was 40 billion yen). Total estimated costs for the program are unchanged at 75 billion yen (28 billion yen expected in FY2017).
2 Potential impacts to operating profit of approximately minus 9-10 billion yen are expected in FY2016 related to the acquisition of ARIAD Pharmaceuticals, Inc.
3 Attributable to the owners of the company
 

For more details on Takeda’s Q3 FY2016 YTD results and other financial information please visit http://www.takeda.com/investor-information/results/

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 our presence in Emerging Markets, fuel the growth of Takeda. More than 30,000 Takeda employees are committed to improving quality of life for patients, working with our health care partners in more than 70 countries. For more information, visit http://www.takeda.com/news.

Additional Information

This press release is provided for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell any securities. The tender offer referred to in this press release is being made pursuant to a Tender Offer Statement on Schedule TO (containing an offer to purchase, a form of letter of transmittal and other documents relating to the tender offer) filed by Takeda Pharmaceutical Company Limited (“Takeda”) and Kiku Merger Co., Inc. with the Securities and Exchange Commission (the “SEC”) on January 19, 2017, as amended from time to time. ARIAD Pharmaceuticals, Inc. (“ARIAD”) has filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer on January 19, 2017, as amended from time to time. Investors and shareholders should read those filings carefully as they contain important information about the tender offer. Those documents may be obtained without charge at the SEC’s website at www.sec.gov. The offer to purchase and related materials may also be obtained for free by contacting the information agent for the tender offer.

Cautionary Statement Regarding Forward-Looking Statements

This document contains forward-looking information related to Takeda, ARIAD and the proposed acquisition of ARIAD by Takeda that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Forward-looking statements in this document include, among other things, statements about the potential benefits of the proposed acquisition, anticipated earnings accretion and growth rates, Takeda’s and ARIAD’s plans, objectives, expectations and intentions, the financial condition, results of operations and business of Takeda and ARIAD, ARIAD’s products, ARIAD’s pipeline assets, and the anticipated timing of closing of the acquisition. Risks and uncertainties include, among other things, risks related to the satisfaction of the conditions to closing the acquisition (including the failure to obtain necessary regulatory approvals) in the anticipated timeframe or at all, including uncertainties as to how many of ARIAD’s stockholders will tender their shares in the tender offer and the possibility that the acquisition does not close; risks related to the ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the proposed acquisition will not be realized or will not be realized within the expected time period; the risk that the businesses will not be integrated successfully; disruption from the transaction making it more difficult to maintain business and operational relationships; negative effects of this announcement or the consummation of the proposed acquisition on the market price of Takeda’s common stock and on Takeda’s operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition; other business effects, including the effects of industry, market, economic, political or regulatory conditions; future exchange and interest rates; changes in tax and other laws, regulations, rates and policies; future business combinations or disposals; the uncertainties inherent in research and development, including the ability to sustain and increase the rate of growth in revenues for ARIAD’s products despite increasing competitive, reimbursement and economic challenges; whether and when any drug applications may be filed in any jurisdictions for any indications or any additional indications for ARIAD’s products or for ARIAD’s pipeline assets; whether and when the FDA or any other applicable regulatory authorities may approve any such applications, which will depend on its assessment of the benefit-risk profile suggested by the totality of the efficacy and safety information submitted; decisions by the FDA or other regulatory authorities regarding labeling and other matters that could affect the availability or commercial potential of ARIAD’s products and ARIAD’s pipeline assets; and competitive developments. Other factors that may cause actual results to differ materially include those set forth in the Tender Offer Statement on Schedule TO and other tender offer documents filed by Takeda and Kiku Merger Co., Inc.

Many of these factors are beyond Takeda’s control. Unless otherwise required by applicable law, Takeda disclaims any intention or obligation to update forward-looking statements contained in this document as the result of new information or future events or developments.

Contact information

Investor Relations
Noriko Higuchi, +81-(0)3-3278-2306
noriko.higuchi@takeda.com
Media Relations
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

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

Keio Plaza Hotel Tokyo Starts "Ikebana" Flower Arrangement Workshops16.8.2017 14:00Pressemelding

Keio Plaza Hotel Tokyo, one of Japan’s most prestigious international hotels located in Shinjuku, Tokyo, starts special 45 minute classes to teach overseas guests about “Ikebana” flower arrangement which will be held on every other Thursday beginning from August in a private room for JPY3,000 per participant. Instruction and commentary will be provided by the renowned flower arrangement artist Hiroki Maeno. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170816005431/en/ From August, 2017, Keio Plaza Hotel Tokyo starts special 45 minute classes to teach overseas guests about "Ikebana" flower arrangement workshops. (Photo: Business Wire) Flower arrangement artist Hiroki Maeno has created special and unique flower arrangements for display in the main lobby of our hotel with each cha

Maxion Wheels to Feature Market Leading Commercial Vehicle Steel Wheels at COMTRANS 201716.8.2017 13:00Pressemelding

Maxion Wheels, the world’s largest wheel manufacturer, announced today its participation in the biennial COMTRANS / 17 International Commercial Vehicle Show held in Moscow, Russia from September 4 – 9, 2017, in Hall 15/ Stand 15-432. Customers and visitors to the Maxion Wheels exhibit will have the opportunity to learn more about the state-of-the-art commercial vehicle steel wheels that have supported the success of global original equipment manufacturers for almost 100 years. One of the key products on display will be the new 8.5” x 24” wheel for tubeless tire applications in Russia, the Middle East and Africa. The wheel boasts 15 percent less weight than the prior generation wheel, enhancing tire life and improving fuel efficiency. ABOUT MAXION WHEELS Maxion Wheels, a division of IOCHPE-MAXION S.A., is a leading wheel manufacturer for passenger cars,

Out-of-this-World Science Project to be Featured as Keynote at SC17’s High Performance Computing Conference in Denver16.8.2017 13:00Pressemelding

Professor Philip Diamond, Director General of the international Square Kilometer Array (SKA) project, will be the keynote speaker at SC17, the International Conference for High Performance Computing, Networking, Storage and Analysis in Denver, Nov. 12-17. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170816005129/en/ SC17 Keynote Speaker Philip Diamond (Photo: Business Wire) SKA is an international collaboration to build the world’s largest radio telescope that will change our understanding of space as we know it. Professor Diamond, accompanied by Dr. Rosie Bolton, SKA Regional Centre Project Scientist, will take SC17 attendees around the globe and out into the deepest reaches of the observable universe as they describe the SKA’s international partnership that will map and study the e

Scientist.com Ranks No. 155 on the 2017 Inc. 5000 List of Fastest-Growing Companies16.8.2017 12:06Pressemelding

Scientist.com, the leading marketplace for outsourced scientific services, today announced that it ranked no. 155 on Inc. magazine’s 2017 List of the 5000 Fastest-Growing privately-owned companies in America, and it ranked no. 11 in the country in the Health category. The San Diego-based company builds private marketplaces that connect many of the world’s largest life science research organizations with a global network of thousands of research suppliers. “Using Scientist.com, research organizations of pharmaceutical companies, biotech start-ups and academic and research institutes can get near instant access to thousands of the latest research technologies and services,” stated Paul A. Stone, JD, Partner at 5AM Ventures, a Scientist.com investor. “The marketplace saves researchers time, reduces costs, promotes access to innovation and ensures regulatory compliance. Scientist.com is im

CMB Successfully Goes-Live on Murex’s MX.3 Platform16.8.2017 08:00Pressemelding

Murex, a global leader in trading, risk management and processing solutions, is pleased to announce the successful launch of the MX.3 platform at China Merchants Bank (CMB). As one of China’s largest commercial banks, CMB financial market department currently averages 8,000 trades per day with a portfolio of 320,000 live trades on MX.3. CMB decided to launch the project to implement an enterprise-wide solution for their capital markets teams based in Shenzhen and Shanghai. This was done in order to improve control over their end-to-end trading cycle from front-to-back through risk, streamline and automate their operations, and enable new business. Murex’s MX.3 platform was selected as it provided the functional, geographical and product coverage that was required by the bank. Covering Front Office, Processing, Finance, and Risk Management, MX.3 also provides VaR analytics across all asset

euNetworks Adds New High Density Fibre Network in Manchester16.8.2017 08:00Pressemelding

euNetworks, a provider of bandwidth services in Europe, today announced it has made further investment in Manchester in the United Kingdom, having built out a new high density fibre network covering over 40 route kilometres in the city. This follows initial expansion into Manchester’s MediaCityUK in May 2016, which supported euNetworks’ Media customer’s bandwidth needs, as well as enabling a seamless network experience from London through to Manchester and Dublin and onwards to Europe. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170816005067/en/ euNetworks Fibre in Manchester (Photo: Business Wire) This new network in Manchester city was designed for resilience, with fully diverse nodes. euNetworks undertook a combination of new construction and duct acquisition to complete this network

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom