Takeda Reports Results for Three Quarters (April-December) of FY2015,Reaffirms Management Guidance for the Full Year
Takeda Pharmaceutical Company Limited (TOKYO:4502):
Results of April to December period reaffirms full-year management guidance
- Underlying revenue +3.8% year-to-year (reported revenue growing +4.0% to 1,393.3 billion yen), led by strong performance in the U.S. and the emerging markets
- Underlying Core Earnings +1.5% year-to-year (operating profit -15.9% to 167.5 billion yen)
- Underlying Core EPS +17.3% year-to year (reported EPS growing +43% to 145 yen)
Contribution of Takeda's growth drivers
- Consolidated underlying revenue of gastroenterology, oncology and emerging markets – Takeda's growth drivers – is +8.5% year-to-year
- Gastroenterology underlying revenue +24.7%, oncology up +0.4% year-to-year
- Emerging markets underlying revenue +5.7% year-to-year, with particularly strong contributions from Russia and China
Growth of innovative new products to offset loss of exclusivity impact
- ENTYVIO® is on the way to over $2 bln in peak sales, BRINTELLIX® and ADCETRIS® show steady growth
- AZILVA® and LOTRIGA® are contributing to Japan business.
Efficiency gains continue
- Project Summit achieved 21 billion yen of cost savings in the April-December 2015 period, exceeding the full-year target
For FY2015 full year reported forecast, operating profit upgraded, others unchanged
- Based on performance through three quarters, Takeda raised the full year reported forecast for operating profit to 120 billion yen
Affirming management guidance 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,
"Through three quarters (April to December) of FY2015, Takeda's turnaround continues, with underlying revenue growth of +3.8% year-to-year, led by our growth drivers of gastroenterology, oncology and emerging markets. With the global launch of new products such as ENTYVIO and NINLARO, Takeda is on the right track to deliver revenue growth and improved profitability. On the basis of our three quarters results, we confirm our full-year management guidance."
Key figures for three quarters
|FY 2014||FY 2015||Growth|
|Core Earnings 1||276.5||269.8||-2.4%||+1.5%|
|Net Profit 3||79.7||113.6||+42.5%||–|
|EPS||101 yen||145 yen||+43.0%||–|
|Core EPS||216 yen||241 yen||+11.4%||+17.3%|
|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 major litigation costs.|
|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.|
|Attributable to the owners of the company|
Underlying revenue growth in the 3Q (April to December, 2015) was +3.8% year-to-year, Underlying Core Earnings was +1.5% and Underlying Core EPS was +17.3%, with no change in Takeda's management guidance for FY2015. Reported revenue grew +4.0% year-to-year to 1,393.3 billion yen. An increase in expenses to new global products as well as a decrease in other income such as reversal of COLCRYS® contingent consideration and gain from sales of real estate in 2014, resulted in a year-to-year decline in Operating Profit by 31.6 billion yen. Despite the decrease in operating profit, consolidated net profit was 113.6 billion yen, an increase of 33.9 billion yen (+42.5% year-to-year), mainly due to the decrease in income tax expenses.
Underlying revenue growth was mainly driven by Takeda's growth drivers; gastroenterology, oncology and emerging markets. The three account for almost 50% of Takeda's revenue. Gastroenterology grew by +24.7% year-to-year, driven by ENTYVIO®. Oncology revenue, including VELCADE® and ADCETRIS®, increased by +0.4%. Launched in the U.S. in December, NINLARO®, a highly innovative once-weekly capsule for multiple myeloma, is expected to provide a significant contribution to Takeda's mid- to long-term sustained growth. Emerging Markets revenue grew by +5.7% year-to-year, led by Value Brands (branded generics and Over-The-Counter medicines), with strong growth in Russia and China. Performance in the U.S. (+11.6% year-to-year underlying revenue growth) also contributed to revenue growth. In Japan, under the increasing generic pressure, underlying revenue declined -1.7% year-to-year, but the year-to-year revenue declines moderated, led by the contribution of AZILVA® and LOTRIGA®.
Project Summit – a company-wide strategic initiative to increase efficiency – continued to produce results, with 21 billion yen savings in the three quarters period, exceeding the full year target.
ENTYVIO® and NINLARO® are expected to be key global contributors to Takeda's sales growth. In Japan, a new business venture with Teva Pharmaceutical Industries Ltd. will be established in or after April 2016 to deliver Teva's high-quality generic medicines and Takeda's long-listed products to patients. It is expected to meet wide-ranged needs of patients and correspond to the growing importance of generics in Japan, while Takeda will further focus on innovative new medicines, such as AZILVA®, LOTRIGA®, TAKECAB®, NESINA® and ZAFATEK®.
As part of its ongoing effort to improve the R&D productivity, Takeda announced that its top priority is to be a leader in three therapeutic areas, Oncology, Gastroenterology and Central Nervous System. In addition, it will deliver maximum, targeted value in Specialty CV and an innovative business and global health approach in Vaccines.
Takeda affirmed its management guidance for FY2015, leading to long-term sales and profit growth, and raised the full-year reported forecast of operating profit to 120 billion yen, based on the three quarters' results.
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|
FY2015 full year reported
forecast: operating profit revised, others unchanged
|Profit before tax||115.0||–||115.0|
|Net profit for the year||68.0||–||68.0|
|EPS||87 yen||–||87 yen|
For more details on Takeda’s FY2015 3Q 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. Information about Takeda is available on www.takeda.com.
Takeda Pharmaceutical Company Limited
Noriko Higuchi, +81-(0)3-3278-2306
Tsuyoshi Tada, +81 (0)3-3278-2417,
Media outside Japan
Jocelyn Gerst, +1-224-554-5542
Om Business Wire
(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
Boston Capital Announces Closing of Boston Capital Income & Value U.S. Apartment Fund17.7.2018 14:00 | Pressemelding
Boston Capital, the third largest owner of apartments in the U.S. with over $19.6 billion invested, is pleased to announce the final investor closing of Boston Capital Income and Value U.S. Apartment Fund (“BCIV”). BCIV, a discretionary multi-investor Luxembourg based fund vehicle, includes financial institutions, insurance companies, pensions, and family offices among its investors and will acquire over $350 million in apartment properties throughout the U.S. “We are very pleased to close BCIV, the latest in a succession of institutional investment vehicles through Boston Capital’s conventional apartment investment arm, Boston Capital Real Estate Partners (“BCRE”),” said Jeff Goldstein, COO and Director of Real Estate at Boston Capital. The Fund generates high current dividends and capital growth by acquiring and renovating Class B apartment properties located in major and secondary U.S. markets and by targeting a renovated rental price point well below new construction rates, which a
Amobee Wins Auction Process to Acquire Videology Assets17.7.2018 13:13 | Pressemelding
Singtel subsidiary Amobee, a leading global digital marketing technology company serving brands and agencies, today announced that it has emerged as the winner in the court supervised auction to acquire certain assets from Videology, a software provider for advanced TV and video advertising, for purchase price of approximately US$101 million1. The purchase price is subject to adjustments for accounts receivable at closing, estimated to be approximately US$20.9 million. The acquisition, following Videology’s voluntary Chapter 11 restructuring proceedings, includes Videology’s technology platform, intellectual property and certain other assets of estimated net book value of US$5.3 million2. Over the past decade, Videology has emerged as a leading provider of software that empowers advertisers and publishers to use data to optimize campaigns and spend across digital platforms and television. The addition of Videology’s capabilities will be a further boost to Amobee’s omni-channel platform
Lenovo Leaps Forward with Next-Generation ThinkAgile Composable Cloud Platform17.7.2018 12:00 | Pressemelding
Lenovo Data Center Group (HKSE: 992) (ADR: LNVGY), one of the fastest growing hyperconverged infrastructure (HCI) vendors according to IDC, – with HCI revenue growing at almost twice the market growth rate in Q1 2018 (149.1% compared to 76.3%)—is further expanding its ThinkAgile portfolio to provide an innovative solution for customers who desire the agility of the public cloud and the security of a private cloud. To address this growing customer trend, Lenovo – together with Cloudistics – has developed the ThinkAgile CP Series composable cloud platform, a ‘cloud-in-a-box’ that offers all of the conveniences and ease-of-use of a public cloud environment secured behind the customer’s own data center firewall. Lenovo ThinkAgile CP Series – with fully-integrated infrastructure, application marketplace and end-to-end automation of software-defined network, compute and storage – delivers a turnkey cloud experience that can be easily and centrally managed from anywhere through a software-as-
JPMorgan Chase Bank launches offering of cash-settled exchangeable bonds into Ping An Insurance (Group) Company of China Limited due 202017.7.2018 12:00 | Pressemelding
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933) OR IN OR INTO JAPAN, THE PEOPLE’S REPUBLIC OF CHINA, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. JPMorgan Chase Bank, N.A. (the “Issuer”) today announces the launch of an offering of cash-settled exchangeable bonds due 2020 (the “Bonds”) in aggregate principal amount of up to approximately USD 350 million. The Bonds are referable to H-shares (the “Shares”) of Ping An Insurance (Group) Company of China Limited (the “Company”). Exchange rights in respect of the Bonds will be cash-settled only. The Issuer is rated A+ (Stable outlook) by Standard & Poor’s, Aa3 (Stable outlook) by Moody’s and AA (Stable outlook) by Fitch. The Bonds will be issued in principal amounts of USD 200,000 and integral multiples of USD 100,000 in excess thereof and will not bear interest.
Greene Tweed Achieves Nadcap Accreditation for Non-Metallic Materials Testing17.7.2018 11:01 | Pressemelding
Greene Tweed’s Central Engineering (CE) Materials Test Lab recently completed its final Nadcap accreditation audit for Non-Metallic Materials Testing (NMMT) of composite materials. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180717005200/en/ Greene Tweed Achieves Nadcap Accreditation (Photo: Greene Tweed) In support of Aerospace’s strategic initiative, this positions Greene Tweed as one of a select few aerospace companies who have attained this accreditation as validation of our materials testing capabilities and our position as a composite solutions provider. To achieve this standard, Greene Tweed’s CE lab completed a comprehensive audit against the highest standards for special process controls, test completion, and validation. This in-house accreditation adds to Greene Tweed’s responsiveness to new product development requests while expanding production material and customer product certification capabilities. It also
Norsk Titanium Collaborates with QuesTek Innovations LLC17.7.2018 11:00 | Pressemelding
Norsk Titanium (Norsk) and QuesTek Innovations LLC (QuesTek) announce a collaborative effort to test novel titanium alloys for applicability in additive manufacturing processes. As part of this collaboration, the companies are evaluating a QuesTek-designed titanium alloy using Norsk’s Rapid Plasma Deposition™ (RPD™) process. Preliminary evaluation of the alloy is complete and Norsk has manufactured initial test specimens. The test program will characterize the alloy microstructure, provide initial material properties, and will confirm QuesTek’s Ti alloy performance using Norsk’s proven production process. QuesTek’s patented titanium alloy has previously demonstrated approximately 15% greater strength and improved ductility over traditional Ti-6Al-4V in both wire-based Electron Beam Additive Manufacturing and traditional casting processes. "We are excited to be working closely with Norsk Titanium’s business and technical team to evaluate our alloy in their proven process. Based on our i