Revenue Decline of 3.7% at Constant Exchange Rate (CER); 8.4% Decline at Actual Exchange Rates (AER) as VYVANSE® Generic Erosion Impacts Revenue in Line With Company Expectations
Core Operating Profit Decline of 11.9% at CER, Primarily Reflecting Generic Erosion
Reported Operating Profit Increase of 11.0% at AER, Reflecting Lower YoY Impairment and Restructuring Expenses
Positive Results from Two Pivotal Phase 3 Studies of Oveporexton in Narcolepsy Type 1 Reinforce Continued Momentum in Late-Stage Pipeline
No Change to Full-Year Outlook Announced in May
(BUSINESS WIRE)--Takeda (TOKYO:4502/NYSE:TAK) today announced earnings results for the first quarter of fiscal year 2025 (three months ended June 30, 2025), with generic erosion of VYVANSE significantly impacting revenue and Core Operating Profit in line with company expectations for the quarter. The company expects these impacts to moderate in future quarters.
Takeda also achieved several important milestones in its R&D pipeline, reinforcing its long-term growth trajectory and underscoring its commitment to delivering sustainable value through innovation. Most notably, both Phase 3 studies of oveporexton successfully met all primary and secondary endpoints, demonstrating statistically significant improvements across doses. These results reinforce the potential of oveporexton to transform the standard of care in narcolepsy type 1.
In addition, Takeda received U.S. FDA approval for GAMMAGARD® LIQUID ERC and European Commission (EC) approval for ADCETRIS® in new indications and presented promising clinical data for rusfertide at the 61st American Society of Clinical Oncology (ASCO) Annual Meeting Plenary Session. These developments underscore the strength of Takeda’s late-stage pipeline and its potential to drive future growth.
Takeda chief financial officer, Milano Furuta, commented:
“The impact of VYVANSE generic erosion on Takeda’s FY2025 Q1 results was very significant, but consistent with our expectations, and there is no change to our full-year outlook announced in May.
“Our late-stage pipeline continues to advance with the announcement in July of positive results from two pivotal Phase 3 studies for oveporexton in narcolepsy type 1, with both studies meeting all primary and secondary endpoints. These results represent a significant scientific milestone, and we are very excited about the potential for our late-stage pipeline to deliver value to the patients we serve and to position Takeda for sustainable growth.”
FINANCIAL HIGHLIGHTS for FY2025 Q1 Ended June 30, 2025 | |||
(Billion yen, except percentages and per share amounts) | |||
| FY2025 Q1 | FY2024 Q1 | vs. PRIOR YEAR (Actual % change) |
Revenue | 1,106.7 | 1,208.0 | -8.4% |
Operating Profit | 184.6 | 166.3 | +11.0% |
Net Profit | 124.2 | 95.2 | +30.4% |
EPS (Yen) | 79 | 61 | +30.8% |
Operating Cash Flow | 215.4 | 170.3 | +26.5% |
Adjusted Free Cash Flow (Non-IFRS) | 190.1 | 23.7 | +703.6% |
Core (Non-IFRS) | ||||
(Billion yen, except percentages and per share amounts) | ||||
| FY2025 Q1 | FY2024 Q1 | vs. PRIOR YEAR (Actual % change) | vs. PRIOR YEAR (CER % change) |
Revenue | 1,106.7 | 1,208.0 | -8.4% | -3.7% |
Operating Profit | 321.8 | 382.3 | -15.8 % | -11.9% |
Margin | 29.1% | 31.6% | -2.6 pp | ― |
Net Profit | 237.0 | 276.8 | -14.4% | -10.3% |
EPS (Yen) | 151 | 176 | -14.1% | -10.0% |
FY2025 Outlook (unchanged from May 2025) | ||
(Billion yen, except percentages and per share amounts) | ||
| FY2025 FORECAST | FY2025 MANAGEMENT GUIDANCE Core Change at CER (Non-IFRS) |
Revenue | 4,530.0 | --- |
Core Revenue (Non-IFRS) | 4,530.0 | Broadly flat |
Operating Profit | 475.0 | --- |
Core Operating Profit (Non-IFRS) | 1,140.0 | Broadly flat |
Net Profit | 228.0 | --- |
EPS (Yen) | 145 | --- |
Core EPS (Yen) (Non-IFRS) | 485 | Broadly flat |
Adjusted Free Cash Flow (Non-IFRS) | 750.0-850.0 | --- |
Annual Dividend per Share (Yen) | 200 | --- |
Additional Information About Takeda’s FY2025 Q1 Results
For more details about Takeda’s FY2025 Q1 results, commercial progress, pipeline updates and other financial information, including key assumptions in the FY2025 forecast and management guidance as well as definitions of non-IFRS measures, please refer to Takeda’s FY2025 Q1 investor presentation (available at https://www.takeda.com/investors/financial-results/quarterly-results/).
Please refer to slide 6 of Takeda’s FY2025 Q1 investor presentation (available at https://www.takeda.com/investors/financial-results/quarterly-results/) for the definition of Growth & Launch Products.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250727920112/en/
Contacts
Investor Relations
Christopher O’Reilly
Christopher.oreilly@takeda.com
+81 (0) 90-6481-3412
Media Relations
Brendan Jennings
Brendan.jennings@takeda.com
+81 (0) 80-2705-8259
(Outside Japan business hours)
Media_Relations@takeda.com
