Takeda Pharmaceutical Books Second-Quarter Loss, Lowers Profit Guidance — Update

By Kosaku Narioka

Takeda Pharmaceutical reported a second-quarter net loss due to impairment losses on certain products and cut its net-profit forecast for the fiscal year ending March 2024.

The Japanese drugmaker said Thursday that it booked a net loss of 48.0 billion yen ($319.5 million) for the three months ended Sept. 30. That compared with the estimated net profit of Y70.41 billion in a poll of analysts by Quick and net profit of Y61.7 billion in the year-earlier period.

Takeda now projects that its net profit for the fiscal year ending March 2024 will drop 71% to Y93.00 billion, compared with its previous view of a 55% fall to Y142.00 billion.

Takeda recorded impairment losses for Alofisel, a stem-cell therapy for Crohn's disease, and lung-cancer drug Exkivity. Earlier this month, the company said a clinical trial for Alofisel failed to produce a target outcome. It has also said that it plans to voluntarily withdraw Exkivity from the market following an unfavorable trial outcome.

Second-quarter revenue increased 6.4% from a year earlier to Y2.102 trillion. Sales of Vyvanse, a drug for attention deficit hyperactivity disorder, fell 7.3% to Y103.1 billion as Takeda lost U.S. market exclusivity for the drug in late August.

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

(END) Dow Jones Newswires

October 26, 2023 04:57 ET (08:57 GMT)

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