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May 12, 2022

Takeda announces 11.6% reported revenue growth in FY2021

For the fiscal year, the operating cash flow witnessed a 11.1% rise to $8.63bn (JPY1,123.1bn).

Takeda has recorded an 11.6% rise in its reported revenue to $27.4bn (JPY3,569bn) during the fiscal year 2021 (FY2021) compared to $24.6bn (JPY3,197.8bn) in FY2020.

The increase in revenue was attributed to growth in products’ performance, launch of new products and strength across its crucial business areas.

For the FY2021 ended 31 March 2022, the company reported a 9.5% decline in operating profit to $3.54bn (JPY460.8bn), versus $3.91bn (JPY509.3bn) in the prior year.

The reported net profit and earnings per share (EPS) for FY2021 declined 38.8% to $1.77bn (JPY230.1bn) and 38.9% to $1.1 (JPY147), respectively.

For the fiscal year, the operating cash flow witnessed a 11.1% jump to $8.63bn (JPY1,123.1bn). 

Furthermore, the company provided commercial updates across its five core business areas: gastroenterology (GI), rare diseases, plasma derived therapy (PDT) immunology, oncology and neuroscience.

In the GI business, the reported revenue rose by 7% to $6.73bn (JPY875.7bn) on an underlying basis.

Gut-selective Entyvio and anti-acid therapy, Takecab steered the growth in revenue in this business.

A 1% decline on an underlying basis in reported revenue to $4.7bn (JPY611.2bn) in the rare diseases business was reported.

In the PDT Immunology and Oncology business of the company, reported revenue rose 14% to $3.9bn (JPY507bn) and 8% to $3.6bn (JPY468.7bn), on an underlying basis, respectively.

A 10% growth in reported revenue to $3.7bn (JPY482.3bn) on an underlying basis was seen in the neuroscience business, which was steered by high demand for Vyvanse following Covid-19.

Takeda chief financial officer Costa Saroukos said: “Takeda’s strong FY2021 performance against our management guidance provides a solid foundation for our FY2022 outlook for continued topline growth and robust cash flow generation. 

“This will allow us to allocate capital to maximise value for patients and shareholders as we invest in our R&D engine, new product launches and other growth drivers while continuing to rapidly reduce debt and return cash to shareholders.”

In May last year, the company reported a 2.8% year-on-year (YOY) decline in its reported revenue to $24.6bn (JPY3,197.8bn) during the FY2020.

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