Takeda delivers resilient FY2020 financials

Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) today announced financial results for fiscal year 2020 (period ended March 31, 2021), which the company says demonstrate its “resilient portfolio.”

Reported revenues at 3,197.8 billion yen (~$28.9 billion), declined by 2.8% impacted primarily by foreign exchange and divestitures. Underlying revenues growth in FY2020 was +2.2% driven by the growth of Takeda’s 14 global brands, up 16% year-on-year

Takeda delivered reported operating profit of 509.3 billion yen (~$4.6 billion), which grew 407.2% with gains from non-core asset sales and acquisition-related expenses. Core operating profit, which adjusts for purchase price accounting (PPA) and non-recurring items (including gains on sales of assets), increased year-on-year to JPY 967.9 billion yen (~$8.8 billion). Takeda’s reported net profit was 376 billion yen, a 749.9% increase compared with the same period in the prior year.