Costa Saroukos, Chief Financial Officer, and Andy Plump, President of Research and Development, recently discussed our financial and growth potential at a fireside chat hosted by Morgan Stanley. The event also offered a chance for investors to learn about some of our most innovative medicines and late-stage development programs.
Two of Takeda’s senior executives took part in a live fireside chat hosted by Morgan Stanley in New York on September 12.
Chief Financial Officer Costa Saroukos took the opportunity to emphasize Takeda’s financial strength and growth potential. “We have started the year very strongly and our first quarter core revenue1 grew at 8.3 percent at a constant exchange rate2, driven by our Growth and Launch Products, which grew at 26% in Q1,” he explained. He also pointed to strong margin improvements supported by solid OPEX management performance.
With 50% of revenue coming from the US business, Takeda has benefitted from a weaker yen in the current fiscal year and Costa acknowledged the associated upside potential for the company’s full-year reported results. Strong core revenue growth in Q1 also builds confidence for the year ahead, he said, even when currency tailwinds are excluded.
Andy Plump, President of Research and Development, explained that four of our 10 late-stage development programs now have first regulatory approvals, adding, “Our ultimate goal is to deliver innovative medicines to patients faster and to make a meaningful impact on the lives of patients.”
Qdenga is an excellent example of our pipeline delivering what it promised, Andy said, with the vaccine for dengue recently approved in Indonesia after a “10-year labor of love.” The mosquito-borne viral disease is endemic in Indonesia and many other regions of South-East Asia.
Final data analysis for Qdenga has recently been submitted to European Union regulators for approval and a similar application to US authorities is planned for the near future.
Livtencity was approved by the US Food and Drug Administration in late 2021, and more than 50 percent of all transplant centers in the US have already initiated therapy for at least one patient for the post-transplant infection medication, he pointed out.
Looking ahead, we expect more transformative data from our pipeline, with programs that we hope will transform the lives of patients around the world.
Listen to a playback of the Fireside Chat on Takeda's IR Events page.
(1) Core results adjust our reported results calculated and presented pursuant to IFRS to exclude the effect of items unrelated to Takeda’s core operations, such as, to the extent applicable for each line item, amortization and impairment of intangible assets, other operating income and expenses, certain JV-related accounting adjustments, non-recurring items, purchase accounting effects and transaction related costs. Further information regarding Takeda’s Non-IFRS measures, including Core Revenue, is available in Takeda’s Q1 FY2022 investor presentation on slides 2 and A-1 through A-16 (available at https://www.takeda.com/investors/financial-results/),.
(2) CER (Constant Exchange Rate) change eliminates the effect of foreign exchange rates from year-over-year comparisons by translating Reported or Core results for the current period using corresponding exchange rates in the same period of the previous fiscal year. Further information regarding Takeda’s Non-IFRS measures, including CER, is available in Takeda’s Q1 FY2022 investor presentation on slides 2 and A-1 through A-16 (available at https://www.takeda.com/investors/financial-results/).
Medical information: This presentation contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development.