Takeda posts 14% first-qtr revenues growth

Japan’s largest drugmaker Takeda (TYO: 4502) today announced earnings results for the first quarter of fiscal year 2024 (period ended June 30, 2024), showing that net profit increased 6.5% from a year earlier to 95.25 billion yen ($623.4 million). That exceeded the estimate of 53.24 billion yen in a poll of analysts by data provider Quick.

First-quarter revenue rose 14% to 1.208 trillion yen, thanks to sales growth of several key products and a weaker yen. Sales of ulcerative colitis drug Entyvio (vedolizumab) climbed 22% to 234.4 billion yen and sales of plasma-derived products increased 30% to 271.4 billion yen.

Meanwhile, sales of Vyvanse (lisdexamfetamine dimesylate) dropped 6.9% to 114.6 billion yen after Takeda lost US market exclusivity for the blockbuster drug for attention-deficit hyperactivity disorder in August last year.