February 10, 2023
OSAKA, Japan and CAMBRIDGE, Massachusetts, February 10, 2023– Takeda (TSE:4502/NYSE:TAK) today announced that it received a notification from the Government of Japan’s Ministry of Health, Labour and Welfare (MHLW) cancelling the purchase of additional doses of the COVID-19 vaccine Nuvaxovid® Intramuscular Injection. In 2021, the MHLW agreed to purchase 150 million doses of the vaccine from Takeda. As a result of this notification, the government's purchase of the remaining 141.76 million doses, which excludes those already supplied by Takeda, will be cancelled. The agreement had been announced on September 7, 2021: “Takeda to Manufacture and Provide 150 Million Doses of Novavax’ COVID-19 Vaccine Candidate to the Government of Japan”.
Since Nuvaxovid is manufactured in response to the orders placed by the MHLW, there will be no disposal of manufactured products in association with the cancellation of this purchase schedule. Available doses of Nuvaxovid already supplied to the market can still be used as an option for individuals who cannot receive a bivalent omicron mRNA vaccine, or who wish to receive a recombinant protein vaccine.
Takeda is working with Novavax to develop vaccines against the future variants. In an effort to contribute to public health in Japan, Takeda will continue to work closely with the MHLW on the delivery of COVID-19 vaccines in FY 2023, including the potential delivery of vaccines for the Omicron variant.
There is no change in Takeda’s full year consolidated forecasts for the fiscal year ending March 31, 2023 (FY2022), as the financial impacts from the cancellation of the purchase schedule is immaterial. While Takeda recognizes a part of contractual amount as revenue under the terms of the agreement, there is no change in the approximately 50.0 billion JPY revenue contribution from COVID-19 vaccines, including Spikevax Intramuscular Injection, in FY2022.
U.S. and International Media
Takeda is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to discover and deliver life-transforming treatments, guided by our commitment to patients, our people and the planet. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Genetics and Hematology, Neuroscience, and Gastroenterology (GI), with expertise in immune and inflammatory diseases. We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people’s lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries and regions. For more information, visit https://www.takeda.com.
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