Takeda Reports Results for the First Half of FY2015Confirms Management Guidance for the Full Year
Takeda Pharmaceutical Company Limited (TOKYO:4502):
First half results aligned with management guidance
- Underlying revenue +3.8% year-to-year (reported revenue growing +6.2% to 904 billion yen)
- Underlying Core Earnings +3.7% year-to-year (operating profit -5.4% to 110.4 billion yen)
Continued performance of Takeda's strategic growth drivers in the first half
- Gastroenterology underlying revenue +28.7%, oncology up +1.6% year-to-year
- Emerging markets underlying revenue +7.1% year-to-year, with particularly strong contributions from Russia and China
- Consolidated underlying revenue of gastroenterology, oncology and emerging markets – Takeda's growth drivers – is +10.0% year-to-year
First half growth supported by innovative new products
- Entyvio success continues to support more than $2 billion peak sales target
- Brintellix and Adcetris show steady growth
- Azilva and Lotriga continue to grow strongly in Japan
- Year-to-year underlying revenue growth in U.S. +12.0% (driven by Entyvio and Brintellix), Europe and Canada +1.5% (Entyvio and Adcetris), and emerging markets +7.1% (Russia and China)
- Strong growth of new products in Japan. Underlying revenue in Japan decreased by 3.4% year-to-year as a result of increasing generic penetration
Efficiency gains continue
- Project Summit achieved 11 billion yen of cost savings in the first half of FY2015
- On track to deliver more than 20 billion yen savings this fiscal year
Affirming management guidance for profitable growth in FY2015
- Low single-digit underlying revenue growth in FY2015, with underlying core earnings growth higher than underlying revenue growth, and underlying core EPS growth higher than underlying core earnings growth
Christophe Weber, President and Chief Executive Officer of Takeda, commented:
"In the first half of FY2015, Takeda continued its turnaround with underlying revenue growth of 3.8%, led by our growth drivers of gastroenterology, oncology and emerging markets. Operating profit was down in the first half of the year, mainly due to an increase in expenses for several recent launches and in R&D, as planned, but underlying core earnings increased by 3.7%, getting closer to underlying revenue growth. On the basis of our first-half results, we confirm our full-year management guidance."
Key figures for H1 of FY2015
|FY 2014||FY 2015||Growth|
|Core Earnings 1||169.9||177.5||+4.5%||+3.7%|
|Net Profit 3||61.4||54.4||-11.5%||–|
|EPS||78 yen||69 yen||-11.2%||–|
|Core EPS||134 yen||135 yen||+1.2%||+7.9%|
1 Core Earnings is calculated from operating profit by
excluding the impact of exceptional items, such as purchase accounting,
amortization and impairment loss of intangible assets, restructuring
costs and litigation costs.
2 Underlying performance aims at understanding the real performance of the business. Underlying Revenue and Underlying Core Earnings excludes the same as above and adjusted for acquisitions/divestments and foreign exchange.
3 Attributable to the owners of the company
Underlying revenue growth in the first half was +3.8%, Underlying Core Earnings was +3.7% and Underlying Core EPS was +7.9%, with no changes in our management guidance for FY2015. Reported revenue grew +6.2% to 904.0 billion yen. An increase in expenses for new launch products, as well as a decrease in other income related to sale of real estate in 2014, resulted in a year-to-year decline in Operating Profit, Net Profit and EPS, by 6.2 billion yen, 7.1 billion yen and 9 yen, respectively. These measures have improved in the second quarter compared to the first quarter.
Underlying revenue growth was mainly driven by Takeda's growth drivers, which are gastroenterology, oncology and emerging markets. Gastroenterology grew by +28.7% year-to-year, driven by Entyvio. Oncology revenue, including Velcade and Adcetris, increased by +1.6%. Emerging markets revenue grew by +7.1%, led by Value Brands (branded generics and OTC), with strong growth in Russia and China. Performance in the U.S. (+12.0% underlying revenue growth) and Europe and Canada (+1.5%) also contributed to revenue growth. In Japan, products such as Azilva and Lotriga contributed to revenue growth, but as a result of increasing generic competition, total revenue declined -3.4%.
Project Summit – a company-wide strategic initiative to increase efficiency – continued to produce results, with 11 billion yen savings in the first half. Execution of Summit initiatives in recent months include business restructuring programs, further optimization of production capacity utilization, and continued operational efficiency. A new global procurement organization also contributed by leveraging effective external spending. Efficiency initiatives as part of Project Summit remain on track, and Takeda is committed to continued operational efficiency.
Entyvio is expected to be a key global contributor to Takeda's sales growth over the next few years, and Azilva, Lotriga, and Takecab are the products that are expected to enable Takeda to maintain a leading position in Japan. As part of the ongoing efforts of the R&D organization, ixazomib for relapsed/refractory multiple myeloma was granted accelerated assessment status in Europe in July, and Priority Review status in the U.S. in September 2015. In Japan, Takeda submitted a New Drug Application for the fixed-dose combination tablet of Nesina and metformin, and received approval for Leuplin 24 week depot for the treatment of prostate cancer and premenopausal breast cancer and for Copaxone for the treatment of multiple sclerosis in September 2015.
Takeda confirmed its management guidance for FY2015, leading to long-term sales and profit growth.
Management Guidance for FY2015
|Underlying Revenue||Low single digit|
|Underlying Core Earnings||Higher than underlying revenue growth|
|Underlying Core EPS||Higher than underlying core earnings growth|
For more details on Takeda’s FY2015 H1 results and other financial information please visit http://www.takeda.com/investor-information/results/
About Takeda Pharmaceutical Company Limited
Located in Osaka, Japan, Takeda (TOKYO:4502) is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for people worldwide through leading innovation in medicine. Additional information about Takeda is available through its corporate website, www.takeda.com.
Takeda Pharmaceutical Company Limited
Noriko Higuchi, +81-(0)3-3278-2306
Tsuyoshi Tada, +81 (0)3-3278-2417
English media and media outside Japan
Tobias Cottmann, +41-79-217-7252
Om Business Wire
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
Project Bronze: Sale of the Pradera European Retail Fund 2 Portfolio17.1.2018 23:38 | Pressemelding
An affiliate of MCAP Global Finance (UK) LLP ("MCAP") has completed the acquisition of a portfolio of six shopping centres in Spain and Italy, totalling 90,000 sqm (the “Bronze Portfolio”). Terms of the transaction were not disclosed. Formerly owned by the Pradera European Retail Fund 2 (the “Fund”), managed by Pradera, the Bronze Portfolio includes Formia: Itaca Shopping Centre, a 23,000 sqm shopping centre fully let and anchored by a Panorama hypermarket, located approximately 90km northwest of Naples; and Viterbo: Tuscia Shopping Centre, a 17,000 sqm shopping centre fully let and anchored by Coop, Italy’s largest supermarket chain, located circa 80km northwest of Rome. The transaction provided an exit for the Fund’s unitholders. Pradera will continue to serve as asset manager of the Bronze Portfolio on behalf of MCAP. Accord Europe Limited served as the exclusive financial advisor to the Fund. MCAP was self-advised. ABOUT PRADERA Pradera is a market leading specialist fund and asset
CES Asia 2018 Call for Speaker Proposals Now Open17.1.2018 21:37 | Pressemelding
The Consumer Technology Association (CTA) today announced that its Call for Speaker Proposals for CES Asia 2018 is now open. CES Asia seeks abstracts and speakers for the CES Asia conference program. Interested candidates, including subject matter experts from throughout Asia and across industries, have the opportunity to submit a conference proposal through February 14, 2018. Industry executives, futurists and visionaries in vehicle technology, financial tech, smart cities and other target technologies are encouraged to apply. Accepted proposals will be notified by April 2, 2018. Please review the full list of conference themes, submission guidelines and speaker overview before submitting. The CES Asia conference programming features over 30 conference sessions with more than 115 highly sought after industry experts from around the globe. CES Asia speakers present to an audience of high-level industry professionals, including 1,200 members of the global media. More than 40,000 people
STATS Announces Carl Mergele as Chief Executive Officer17.1.2018 17:04 | Pressemelding
Today, STATS, the worldwide leader in sports data and intelligence, announced the hiring of seasoned software executive, Carl Mergele as Chief Executive Officer. Mergele has extensive experience leading and growing software companies, providing world class products and excellent customer service across a number of sectors. In November 2016, Mergele was a software executive of publicly traded NYSE-company Lexmark International, Inc. which was sold to a consortium of private equity investors for $3.6 billion, following a number of software acquisitions in the preceding four years. In addition to leading software companies as CEO, including Vista-owned companies, Mergele has served as a board member to nearly two-dozen corporate entities. Mergele will oversee the company’s next phase of growth, empowering STATS’ customers—the most innovative and successful sports teams, leagues, and brands—with the best data, intelligence and technology, giving them an edge over their competition. “I am t
Intersolar and Power2Drive Europe 2018: Solar Power Generates Mobility17.1.2018 15:40 | Pressemelding
E-mobility is much more than just the clean mobility solution of the future. When electric vehicles are fueled by solar power, it also drives the deployment of photovoltaics forward. Intersolar Europe, the world’s leading exhibition for the solar industry, and Power2Drive Europe, the new exhibition for e-mobility and charging infrastructure, held June 20–22, 2018 in Munich, Germany under the umbrella of The smarter E Europe, will thus showcase the diverse prospects created for the environment by the combination of PV and e-mobility. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180117005988/en/ Solar Power generates mobility (Photo: Solar Promotion GmbH) Electric vehicles can be driven and charging stations can be fed with electricity from PV systems, making e-mobility a driver of the PV market. Ideally, electric vehicles are charged with solar power directly from the owner’s roof. For example, a PV system with a capacity of
Ascend Performance Materials Announces Price Increase for Nylon 6,6 Polymers, Compounds and Fibers17.1.2018 15:22 | Pressemelding
Ascend Performance Materials announced today a price increase for its nylon 6,6 polymers, compounds and fibers due to escalating raw material costs. The price increase takes effect Feb. 1, 2018, and includes the following price changes: Materials Geography Price Increase Terms Nylon 6,6 polymers, compounds and fibers North America $0.10/lb. As contracts allow Non-contract business – price determined on an order-by-order basis Nylon 6,6 polymers, compounds and fibers Europe €0.20/kg. As contracts allow Non-contract business – price determined on an order-by-order basis Nylon 6,6 polymers, compounds and fibers Asia $0.22/kg. As contracts allow Non-contract business – price determined on an order-by-order basis Customers should contact their local sales representative for additional information. About Ascend Performance Materials Ascend Performance Materials is a global premium provider of high-quality plastics, fibers and chemicals and is the world’s largest integrated producer of PA66 r
Mavenir Announces Virtualized Media Breakout Controller, Bringing 5G Edge Architectures to Legacy Networks17.1.2018 14:00 | Pressemelding
Mavenir, focused on transforming mobile network economics for Communications Service Providers, today announced its virtualized Media Breakout Controller (vMBC), a single white box routing platform that enables carriers to host virtual Routing, Firewall, and User plane data offload. Today’s networks, whether 3G, 4G or 5G, are under pressure to provide increased bandwidth in support of LTE and its frequency combinations, and reduce latency for network interaction, resulting in a continual need to increase capacity for traffic transported through the core of the network. Multi-Access Edge Computing standardization (MEC) is trying to resolve some of these issues by placing compute functionality at the edge but it is still mostly controlled from the core, based on conventional centralized architectures. The ability to scale network functionality using virtual elements and COTS HW platforms allows network functionality to be deployed at any location. Mavenir’s innovative solution offers the
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom