News

Takeda Pharmaceutical Reports Second-Quarter Net Loss

1 Mins read

Takeda Pharmaceutical, a leading Japanese drugmaker, has reported a net loss in the second quarter of the fiscal year ending March 2024. This loss is primarily due to impairment losses on certain products. As a result, Takeda has revised its net-profit forecast for the fiscal year.

Net Loss and Revised Forecast

For the three months ended September 30, Takeda recorded a net loss of 48.0 billion yen ($319.5 million). This is a significant decrease compared to the estimated net profit of Y70.41 billion in a poll conducted by Quick, as well as the net profit of Y61.7 billion in the same period last year.

Moreover, Takeda now predicts a 71% drop in its net profit for the fiscal year ending March 2024. The revised forecast indicates a projected net profit of Y93.00 billion, as opposed to the previous estimate of a 55% decrease to Y142.00 billion.

Impairment Losses on Key Products

Takeda has reported impairment losses on two important drugs: Alofisel and Exkivity. Alofisel, which is a stem-cell therapy for Crohn’s disease, recently yielded unfavorable results in a clinical trial. Consequently, Takeda experienced financial setbacks related to this product. Additionally, Takeda plans to voluntarily withdraw Exkivity from the market following an unfavorable trial outcome.

Second-Quarter Revenue

Despite the challenges, Takeda’s second-quarter revenue showed growth. It increased by 6.4% compared to the same period last year, reaching Y2.102 trillion. However, sales of Vyvanse, a drug used to treat attention deficit hyperactivity disorder, fell by 7.3% to Y103.1 billion. This decline can be attributed to Takeda losing exclusivity in the U.S. market for Vyvanse in late August.

In conclusion, Takeda Pharmaceutical’s second-quarter performance has been impacted by impairment losses on key products. The company has revised its net-profit forecast for the fiscal year, reflecting a significant decrease. Despite these challenges, Takeda’s second-quarter revenue has shown growth, albeit with a decline in sales of Vyvanse.

References:

  • Kosaku Narioka
Related posts
News

$TRUMP and other meme coins won't be protected by SEC, Commissioner Hester Peirce says

3 Mins read
LAS VEGAS — Now that the SEC is out of the business of regulating meme coins, investors shouldn’t expect any guidance on…
News

Man charged in New York with 3-week kidnapping to try to steal Bitcoin

1 Mins read
NEW YORK (Reuters) -A grand jury has indicted a 37-year-old cryptocurrency investor accused of kidnapping a business partner inManhattan’s upscale Soho neighborhood…
News

Goldman Sachs Expert Predicts Significant Gold Price Surge by 2026

2 Mins read
Investors are advised to consider risk-reward balance and portfolio diversification.Trending NowBest Forex Trading Robots To Invest In 2022 Daan Struyven, co-head of…

Leave a Reply

Your email address will not be published. Required fields are marked *

+ 70 = 76