Japan-based pharmaceutical giant Takeda (TYO: 4502, NYSE: TAK) has announced its financial results for the third quarter of the fiscal year 2022, ending December 31, 2022. The company reported a 13.9% year-on-year (YOY) increase in global revenues to JPY 3,071 billion (USD 23.882 billion). Core revenues, excluding currency exchange impacts, grew by 4.5% YOY. Takeda maintained its guidance for high single-digit growth for the full fiscal year.
Divisional Performance
Takeda’s Growth & Launch Products division delivered JPY 1,199 billion (USD 9.324 billion) in sales, up 20% YOY. The Gastroenterology (GI) segment reported JPY 857.5 billion (USD 6.67 billion) in revenue, growing by 11%. Rare Diseases saw a 5% increase, while Plasma-Derived Therapies (PDT) Immunology achieved outstanding growth of 18%. Neuroscience revenues grew by 10%. Oncology revenues, however, declined 13% on a constant exchange rate (CER) basis to JPY 345 billion (USD 2.683 billion) due to the entry of Velcade generics in the US market in May 2022. Excluding Velcade, oncology revenues totaled JPY 320.2 billion (USD 2.49 billion), up 7% YOY, driven by strong demand for Alunbrig in Europe, Growth & Emerging Markets, and China.
Pipeline Developments
Takeda announced several strategic moves to bolster its pipeline. It signed an exclusive licensing agreement with Hutchmed for the further development and commercialization of fruquintinib globally, excluding China, Hong Kong, and Macau. Additionally, Takeda will acquire NDI-034858, an oral selective allosteric TYK2 inhibitor from Nimbus Therapeutics, for the potential treatment of multiple autoimmune diseases. Takeda’s dengue vaccine, QDENGA, received approval from the European Commission (EC) in December 2022 for use in individuals aged four years and older. The US FDA granted priority review of its Biologics License Application in November. China’s National Medical Products Administration (NMPA) approved Exkivity (mobocertinib) for the treatment of locally advanced or metastatic non-small cell lung cancer with epidermal growth factor receptor Exon20 insertion mutations. Livtencity (maribavir) was also approved by the EC for treating post-transplant cytomegalovirus (CMV) infections refractory to prior therapies. Positive late-stage clinical data were reported for rare disease drugs TAK-755, Fazirsiran (TAK-999/ARO-AAT), and TAK-861.-Fineline Info & Tech
