Takeda Pharmaceutical's Third-Quarter Net Profit Dropped on Lower Margins

By Kosaku Narioka

Takeda Pharmaceutical reported a drop in its third-quarter net profit due partly to lower margins despite some growth in revenue.

The Japanese drugmaker said Thursday that net profit decreased 11% from a year earlier to 105.7 billion yen ($719.3 million) for the three months ended Dec. 31. That beat the estimate of Y78.165 billion in a poll of analysts by data provider Quick.

Third-quarter revenue increased 1.3% from a year earlier to Y1.111 trillion even as Takeda lost U.S. market exclusivity for Vyvanse, a blockbuster drug for attention deficit hyperactivity disorder, in late August.

Sales of Vyvanse fell 30% to Y86.6 billion, while sales of ulcerative colitis drug Entyvio climbed 13% to Y227.6 billion and sales of plasma-derived products rose 18% to Y222.8 billion.

Third-quarter operating profit margin deteriorated to 9.4% from 13.4% a year earlier due partly to higher costs of sales and research and development expenses.

Takeda Pharmaceutical kept its revenue and net-profit forecasts unchanged for the fiscal year ending March. It continues to expect net profit to drop 71% to Y93.00 billion and revenue to decline 1.2% to Y3.980 trillion.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

February 01, 2024 01:55 ET (06:55 GMT)

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