Slide 1: Zasocitinib IR Event: Phase 3 Psoriasis Data Presented at AAD
Zasocitinib IR Event Phase 3 Psoriasis Data Presented at AAD March 28th, 2026 ET / March 29th, 2026 JST This material is prepared and distributed solely for the purpose of providing information about Takeda's management or business to shareholders, investors, and analysts, and is not intended to ind
Slide 2: Important Notice and Forward-Looking Statements
For the purposes of this notice, “presentation” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this presentation. This presentation (including any oral
Slide 3: Agenda
Opening Remarks Julie Kim, CEO-Elect Phase 3 Psoriasis Results Chinwe Ukomadu, Head of GI&I Therapeutic Area Market Opportunity Rhonda Pacheco, President, U.S. Business Unit; U.S. Country Head Question & Answer Session AGENDA 1. 2. 3. 4.
Slide 4: Preparing to launch transformative medicines in the next 5 months
Preparing to launch 3 transformative medicines in the next 15 months setting Takeda on a new growth trajectory 4 Oveporexton Narcolepsy Type 1 Rusfertide Polycythemia Vera Zasocitinib Psoriasis Expected launch 2026 (H2) Expected launch 2026 (H2) Expected launch 2027 (H1) First orexin agonist to NDA
Slide 5: Zasocitinib: Poised to be a leading oral treatment option for psoriasis
Zasocitinib: Poised to be a leading oral treatment option for patients with psoriasis – significantly expanding the oral market 1 32 Convenient once-daily pill without fasting restrictions Rapid and durable skin clearance, with no new safety signals Next-generation, highly selective oral TYK2 inhibi
Slide 6: Zasocitinib Phase 3 Psoriasis Results
Zasocitinib Phase 3 Psoriasis Results
Slide 7: Zasocitinib: Next-generation, highly selective oral TYK2 inhibitor
Zasocitinib: Next-generation, highly selective oral TYK2 inhibitor1,2 7 • More than 1 millionfold greater binding selectivity for TYK2 versus JAK1, JAK2 and JAK31,2 • Maintains 24-hour inhibition of IL-23 plus other core disease-driving immune pathways without any inhibition of JAK1, JAK2 and JAK3 p
Slide 8: LATITUDE-PsO-3001 and 3002 trial design
LATITUDE-PsO-3001 and 3002 were randomized, multicenter, double-blind, placebo- and apremilast-controlled phase 3 trials 8 Endpoints Co-primary endpoints at Week 16 (versus placebo): • sPGA 0/1a • PASI 75 Key secondary endpoints (versus placebo or apremilast) included: • PASI 75 at Week 4 • sPGA 0,
Slide 9: Baseline demographics and characteristics
Baseline demographics and characteristics were generally similar across treatment arms in each study 9 LATITUDE-PsO-3001 LATITUDE-PsO-3002 Zasocitinib (n = 416) Apremilast (n = 137) Placebo (n = 140) Zasocitinib (n = 555) Apremilast (n = 276) Placebo (n = 277) Age, years 43.8 (13.26) 46.0 (14.10) 45
Slide 10: Zasocitinib met the co-primary endpoints in both studies
LATITUDE-PsO-3002 Zasocitinib met the co-primary endpoints in both studies (sPGA 0/1 and PASI 75 versus placebo at Week 16) 10 PASI 75sPGA 0/1a PASI 75sPGA 0/1a aWith a ≥ 2-point decrease from baseline. Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-300
Slide 11: Rapid skin clearance as early as week 4
LATITUDE-PsO-3002 LATITUDE-PsO-3001 Rapid skin clearance as early as week 4 with zasocitinib 11 PASI 75 PASI 75sPGA 0/1a aWith a ≥ 2-point decrease from baseline. Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-3001: Zasocitinib (n = 416), apremilast (n
Slide 12: PASI 90 results versus apremilast or placebo
Zasocitinib led to greater proportions of patients achieving PASI 90 than apremilast or placebo as early as Week 4 12 Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-3001: Zasocitinib (n = 416), apremilast (n = 137), placebo (n = 140). LATITUDE-PsO-3002:
Slide 13: Clear skin versus apremilast or placebo as early as Week 8
Zasocitinib led to greater proportions of patients achieving clear skin versus apremilast or placebo as early as Week 8 13 sPGA 0 sPGA 0 PASI 100 PASI 100 Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-3001: Zasocitinib (n = 416), apremilast (n = 137),
Slide 14: Clear skin (PASI 100) results in LATITUDE-PsO-3001
LATITUDE-PsO-3001 Zasocitinib led to greater proportions of patients achieving clear skin versus apremilast or placebo as early as Week 8 14 Baseline PASI: 31.3 PASI: 0 Week 16 PASI 100 Responder: Baseline BSA 62% PASI 100 PASI 100 Number of patients based on the full analysis set with non-responder
Slide 15: Superior improvement in DLQI versus apremilast or placebo
Zasocitinib demonstrated superior improvement in DLQI versus apremilast or placebo as early as Week 4 15 LATITUDE-PsO-3002LATITUDE-PsO-3001 DLQI 0/1a DLQI 0/1a aBased on evaluable patients defined as a subset of full analysis set with a baseline DLQI score ≥2 (with nonresponder imputation). Number o
Slide 16: Well tolerated with no new safety signals through Week 16
Zasocitinib was well tolerated with no new safety signals identified through Week 16 16 Day 0 to Week 16 TEAEs from LATITUDE-PsO-3001 and 3002a Zasocitinib (n = 970) Apremilast (n = 412) Placebo (n = 417) n %b, (95% CI)c n %b, (95% CI)c n %b, (95% CI)c Any TEAE 605 62.1 (59.0–65.1) 207 50.5 (45.7–5
Slide 17: Trial design including randomized withdrawal
LATITUDE-PsO-3001 and 3002 were randomized, multicenter, double-blind, placebo- and apremilast-controlled phase 3 trials 17 Endpoints Co-primary endpoints at Week 16 (versus placebo): • sPGA 0/1a • PASI 75 Key secondary endpoints (versus placebo or apremilast) included: • PASI 75 at Week 4 • sPGA 0,
Slide 18: Maintenance of response through Week 60
More than 90% of patients continuing zasocitinib at Week 40 maintained sPGA 0/1, PASI 75 and PASI 90 through Week 60 18 sPGA 0/1 PASI 75 LATITUDE-PsO-3002 randomized withdrawal Most (59%, 69% and 52%) patients re-randomized from zasocitinib to placebo at Week 40 maintained sPGA 0/1, PASI 75, and PAS
Slide 19: Zasocitinib: Enabling expansion with focused LCM programs
Zasocitinib: Enabling expansion with focused LCM programs 19 PHASE 2 START PHASE 2b READOUT PHASE 3 START PHASE 3 READOUT FILING Psoriasis March 2023 Nov 2023 Dec 2025 Target FY2026 Psoriasis H2H vs deucravacitinib July 2025 Target FY2026 Psoriasis Pediatric Dec 2025 Psoriatic Arthritis Sept 2023 Ma
Slide 20: Zasocitinib was generally well-tolerated
Zasocitinib was generally well-tolerated • The safety profile of zasocitinib was consistent with that previously reported1 • No observed trends in labs over time such as cholesterol or lipids increases2 20 Week 24 3001 Study 3002 Study sPGA 0/1 74% 71% PASI 90 69% 63% sPGA 0 49% 41% PASI 100 42% 32%
Slide 21: Zasocitinib Market Opportunity & Commercialization
Zasocitinib Market Opportunity & Commercialization 21
Slide 22: Expansion of the US oral psoriasis market
22 Conventional Therapies Biologics Orals ~1M ~1.3M 27% 40% 51% 10% 22% 1. Conventional therapies include Oral + Topical Steroid, DMARD, & Retinoid 2. US Claim Data (IQVIA SOB Report) and Takeda Forecasting Insights Ad va nc ed T he ra py Ad va nc ed T he ra py 50% FY24 FY34 ~3x the number of patie
Slide 23: Meeting patient needs with a treatment that fits into daily life
Zasocitinib: Meeting patient needs with a treatment that fits effortlessly into daily life 2. Profile based on Ph3 data Rapid and Durable Skin Clearance in a Convenient Once-Daily Pill, No Fasting Restrictions2 Zasocitinib delivered clear to almost clear skin for ~70% of patients by week 16 • Rapid
Slide 24: Continued investment to maximize commercial impact
24 Continued investment to maximize zasocitinib’s commercial impact and market potential Demonstrated success in an adjacent, highly competitive autoimmune market with Entyvio – #1 prescribed IBD treatment (UC and Crohn’s combined)1 In-depth knowledge and experience of payer dynamics to drive effect
Slide 25: Positioned to transform and expand the oral advanced therapy market
Zasocitinib is positioned to transform and expand the oral advanced therapy market in psoriatic disease Enabling Expansion with Focused LCM Programs that Unlock Significant Future Upside Hidradenitis Suppurativa Ph2 started FY25Dermatology → Vitiligo Ph2 started FY25 Ulcerative Colitis Ph2 data expe
Slide 26: Zasocitinib: Poised to be a leading oral treatment option
Zasocitinib: Poised to be a leading oral treatment option for patients with psoriasis – significantly expanding the oral market 1 32 Convenient once-daily pill without fasting restrictions Rapid and durable skin clearance, with no new safety signals Next-generation, highly selective oral TYK2 inhibi
Slide 27: Q&A Session
Q&A Session JULIE KIM CEO Elect RHONDA PACHECO President, U.S. Business Unit; U.S. Country Head CHINWE UKOMADU Head of GI&I Therapeutic Area Unit
Slide 28: Appendix
Appendix
Slide 29: Once-daily Oral Zasocitinib Demonstrates Rapid and Reproducible Skin Clearance
29 Once-daily Oral Zasocitinib Demonstrates Rapid and Reproducible Skin Clearance with a Consistent Safety Profile in Moderate-to-Severe Plaque Psoriasis: Results from Two Randomized Phase 3 Trials (LATITUDE-PsO-3001 and 3002) Melinda Gooderham, Vivian Laquer, Jianzhong Zhang, Joanna Narbutt, Akimic
Slide 30: Disclosures
30 Disclosures Dr Melinda Gooderham has been an investigator, speaker and/or advisor for: AbbVie, Acelyrin, Akros, Alumis, Amgen, AnaptysBio, Apogee, Arcutis, Aristea, Bausch Health, Bristol Myers Squibb, Boehringer Ingelheim, Dermavant, Dermira, Eli Lilly, Galderma, GSK, Incyte, Inmagene, JAMP Phar
Slide 31: Zasocitinib is an investigational, oral, allosteric TYK2 inhibitor
31 Zasocitinib is an investigational, oral, allosteric, highly selective and potent TYK2 inhibitor1,2 ATP, adenosine triphosphate; IFN, interferon; IL, interleukin; JAK, Janus kinase; TYK, tyrosine kinase. 1. Leit S et al. J Med Chem 2023;66:10473–96; 2. Mehrotra S et al. J Invest Dermatol 2025;146:
Slide 32: LATITUDE-PsO-3001 and 3002 trial design
32 LATITUDE-PsO-3001 and 3002 were randomized, multicenter, double-blind, placebo- and apremilast-controlled phase 3 trials Eligibility • Adults (≥ 18 years) • Plaque psoriasis diagnosis for ≥ 6 months prior to screening • PASI ≥ 12, sPGA ≥ 3, ≥ 10% BSA • Candidate for phototherapy or systemic thera
Slide 33: LATITUDE-PsO-3001 and 3002 trial design
33aWith a ≥ 2-point decrease from baseline. bWith a baseline DLQI score ≥2. BSA, body surface area; DLQI, Dermatology Life Quality Index; F/U, follow-up; PASI, Psoriasis Area and Severity Index; sPGA, static Physician’s Global Assessment; TEAE, treatment-emergent adverse events. Eligibility • Adults
Slide 34: Baseline demographics and characteristics
34 LATITUDE-PsO-3001 LATITUDE-PsO-3002 Baseline demographics and characteristics were generally similar across treatment arms in each study Data are mean (SD) unless otherwise stated. aData missing for one patient receiving zasocitinib (LATITUDE-PsO-3002). bData missing for three patients receiving
Slide 35: Co-primary endpoints: sPGA 0/1
35 Zasocitinib met the co-primary endpoints in both studies (sPGA 0/1 and PASI 75 versus placebo at Week 16) aWith a ≥ 2-point decrease from baseline. Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-3001: zasocitinib (n = 416), apremilast (n = 137), plac
Slide 36: Co-primary endpoints: PASI 75 and sPGA 0/1
36 Zasocitinib met the co-primary endpoints in both studies (sPGA 0/1 and PASI 75 versus placebo at Week 16) aWith a ≥ 2-point decrease from baseline. Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-3001: zasocitinib (n = 416), apremilast (n = 137), plac
Slide 37: PASI 90 versus apremilast or placebo
37 Zasocitinib led to greater proportions of patients achieving PASI 90 than apremilast or placebo as early as Week 4 Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-3001: zasocitinib (n = 416), apremilast (n = 137), placebo (n = 140). LATITUDE-PsO-3002:
Slide 38: PASI 90 with patient example
38 Zasocitinib led to greater proportions of patients achieving PASI 90 than apremilast or placebo as early as Week 4 Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-3001: zasocitinib (n = 416), apremilast (n = 137), placebo (n = 140). LATITUDE-PsO-3002:
Slide 39: Clear skin as early as Week 8
39 Zasocitinib led to greater proportions of patients achieving clear skin versus apremilast or placebo as early as Week 8 Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-3001: zasocitinib (n = 416), apremilast (n = 137), placebo (n = 140). LATITUDE-PsO-
Slide 40: Clear skin with patient example
40 Zasocitinib led to greater proportions of patients achieving clear skin versus apremilast or placebo as early as Week 8 Number of patients based on the full analysis set with non-responder imputation. LATITUDE-PsO-3001: zasocitinib (n = 416), apremilast (n = 137), placebo (n = 140). LATITUDE-PsO-
Slide 41: Superior improvement in DLQI
41 Zasocitinib demonstrated superior improvement in DLQI versus apremilast or placebo as early as Week 4 aBased on evaluable patients defined as a subset of full analysis set with a baseline DLQI score ≥2 (with nonresponder imputation). Number of evaluable patients for LATITUDE-PsO-3001:zasocitinib
Slide 42: Well tolerated with no new safety signals through Week 24
42 Zasocitinib was well tolerated with no new safety signals identified through Week 24 TEAEs were coded using MedDRA v28.1. bSample size adjusted incidence proportion x 100. c95% Wald CI unless 0 events occur in either trial, in which case a 95% exact binomial CI is used. Most frequently reported a
Slide 43: Maintenance of response through Week 60
43 More than 90% of patients continuing zasocitinib at Week 40 maintained sPGA 0/1, PASI 75 and PASI 90 through Week 60 sPGA 0/1 PASI 75 Evaluable patients based on the full analysis set for randomized withdrawal with nonresponder imputation. Number of patients for sPGA 0/1: zasocitinib–zasocitinib
Slide 44: Conclusions
44 Conclusions Once-daily oral zasocitinib demonstrated rapid reproducible and durable skin clearance, and a consistent safety and laboratory parameter profile, across two pivotal phase 3 trials • Clear skin was achieved by ~one-third of zasocitinib-treated patients by Week 16 • More than 90% of pat
Slide 45: Acknowledgments
45 Acknowledgments We would like to acknowledge and thank all study sites and patients for their participation in this study This study was funded by Takeda Development Center Americas, Inc. Medical writing assistance was provided by Tina Borg, PhD, of Oxford PharmaGenesis, UK, under the direction o