Japanese pharmaceutical company Takeda (TYO: 4502, NYSE: TAK) has announced its financial results for the first quarter of fiscal year 2024, ending June 30, 2024. The company reported a 2.1% increase in global sales year-on-year, reaching ¥1,208 billion ($7.85 billion) at constant exchange rates.
Takeda’s Growth and Launch Product portfolio, which accounts for 46% of total revenues, saw a significant expansion of 17.8%. This portfolio includes key products such as Entyvio (vedolizumab) for Crohn’s disease and ulcerative colitis, which recorded sales of ¥234.4 billion ($1.52 billion), marking a 7.6% increase. The company’s immunoglobulin (IG) sales also rose by 21.9% to ¥201.5 billion ($1.3 billion), and hereditary angioedema drug Takhzryo (lanadelumab) saw a 19.8% growth in sales, reaching ¥56 billion ($364 million).
Additionally, Takeda’s partnership with China-based HutchMed on the colorectal cancer drug Fruzaqla (fruquintinib) has resulted in a strong global launch, with Q1’24 sales amounting to ¥11.9 billion ($77.4 million).
However, the company faced a setback in China due to supply chain adjustments made to facilitate an upgrade in manufacturing operations, which temporarily disrupted sales of albumin. This led to a dip in albumin sales by 14.2% to ¥29.4 billion ($191 million). Despite this, Takeda anticipates a rebound in sales given the ongoing strong market demand for albumin in China.- Flcube.com
