Takeda Pharmaceutical Company Limited (TOKYO: 4502) (NYSE: TAK) (“Takeda”) today announced financial results for the year ended March 31, 2020 (FY2019). As a top 10 global R&D-driven biopharmaceutical company, Takeda is demonstrating its innovation and values in its response to COVID-19 and in positioning itself for long-term success.

FY2019 reported revenue JPY 3,291 billion, up 57% in first full year following acquisition of Shire.
FY2019 reported operating profit greatly exceeded initial guidance to reach over JPY 100 billion, despite significant non-cash acquisition-related impact.
Core operating profiti increased 110% year on year to JPY 962 billion.
Takeda raised its cost synergy target to $2.3 billion and is on track to deliver on its targets to rapidly pay down debt and continue to divest non-core assets.
Free cash flow up sharply by 156% to JPY 968 billion, enabling Takeda to sustain its well-established dividend policy of 180 yen per share.
Takeda delivered positive reported net profit of JPY 44 billion for FY2019.
Reported operating profit forecast to more than triple to JPY 355 billion in FY2020; Takeda’s growth momentum expected to continue this year and accelerate in the medium term.
Takeda President and Chief Executive Officer Christophe Weber commented:

“Our transformation into a top 10 global biopharmaceutical company accelerated this year and helped us deliver another set of excellent results. We’re fully operating as one Takeda, with growth driven by our five key business areas and a geographic footprint aligned with global market opportunities. Above all, we’re a values-based company that is translating science into life-changing medicines.

“In line with our values, Takeda is taking a lead in meeting the challenges of the COVID-19 outbreak. We initiated a global industry alliance, sharing our world-class Plasma-Derived Therapy R&D, plasma collection and manufacturing capabilities to work collaboratively with other global and regional plasma companies to accelerate development of CoVIg-19, a potential plasma-derived therapy for patients at risk from serious complications of COVID-19. Clinical trials are on track to begin in the summer and if successful, CoVIg-19 has the potential to be one of the earliest approved treatment options.”

“Our guidance for FY2020 reflects confidence in Takeda’s growth momentum,” Weber continued. “We are positioned for success with our next wave of growth driven by promising product candidates in our R&D pipeline targeted for launch in the next five years, and a potentially transformative early-stage pipeline for longer-term growth.”