Takeda (TYO: 4502), a leading Japanese pharmaceutical company, has released its financial results for the 9-month period ended December 31, 2023, reporting a revenue of JPY 3.2 trillion (USD 21.9 billion) with a 0.0% growth at constant exchange rates (CER). The company’s performance was impacted by declines in oncology, neuroscience, and other areas, with drops of 2.2%, 5.8%, and 28.3% respectively, which were not fully compensated by increases in rare diseases, gastrointestinal and inflammation, and immunology, which rose by 3.3%, 3.6%, and 16.2% respectively.
During this period, Takeda’s blockbuster drugs included Entyvio (vedolizumab) for autoimmune diseases at JPY 619.3 billion (USD 4.2 billion), plasma-derived immunoglobulin at JPY 485.7 billion (USD 3.3 billion), and the central nervous system (CNS) stimulant Vyvanse/Elvanse (lisdexamfetamine dimesylate) at JPY 312.9 billion (USD 2.1 billion).
Geographically, Takeda’s revenue shrank by 12.3%, 1.8%, and 16.9% to JPY 342.6 billion, JPY 1.7 trillion, and JPY 45.4 billion in Japan, the US, and Russia/CIS respectively. However, the company saw growth in Europe and Canada with a 4.7% increase to JPY 721.5 billion, an 8.9% increase in Asia ex-Japan to JPY 188.8 billion, and a 15.2% increase in Latin America to JPY 138.4 billion.
The financial report also detailed project discontinuations between April and December 2023, including late-stage failures such as niraparib in breast cancer, mobocertinib in non-small cell lung cancer (NSCLC), darvadstrocel in Crohn’s disease-related perianal fistulas, and TAK-577 as von Willebrand disease prophylaxis. Phase II candidates that were culled included TAK-611 in metachromatic leukodystrophy, TAK-041 in major depressive disorder (MDD)-associated anhedonia, TAK-071 in Parkinson’s disease, and modakafusp alfa in multiple myeloma (MM). Early-stage programs that were terminated included TAK-105 in nausea and vomiting, TAK-920 in Alzheimer’s disease, TAK-426 as a Zika virus vaccine, as well as modakafusp alfa, TAK-102, TAK-103, and TAK-940 in solid tumors.
These discontinuations reflect Takeda’s strategic focus on optimizing its pipeline and allocating resources to the most promising candidates, despite the challenges faced in advancing certain programs.- Flcube.com
