Takeda Pharmaceutical Co. Ltd. · TSE:4502

Takeda Pharmaceutical — Q1 2025 Earnings Presentation

51 slides from Takeda Pharmaceutical's earnings presentation, Jul 30, 2025

  1. Slide 1: Committed to Growth & Shareholder Returns

    TSE: 4502 Committed to Growth & Shareholder Returns FY2025 Q1 Earnings Announcement July 30th, 2025

  2. Slide 2: Important Notice

    Important Notice 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 (i

  3. Slide 3: Agenda

    Opening Remarks Christophe Weber, President & CEO Financial Highlights Milano Furuta, Chief Financial Officer AGENDA Pipeline Update Andy Plump, President, R&D Q&A Question & Answer Session

  4. Slide 4: Agenda

    Opening Remarks Christophe Weber, President & CEO Financial Highlights Milano Furuta, Chief Financial Officer AGENDA Pipeline Update Andy Plump, President, R&D Q&A Question & Answer Session

  5. Slide 5: FY2025 Q1 Financial Results (Summary)

    FY2025 Q1: Expected to be the Quarter Most Impacted by LOE due to Strong VYVANSE Performance in FY24 Q1; No Change to Full-Year Guidance FY2025 Q1 (APR -JUN) FINANCIAL RESULTS (SUMMARY) 1 (BN YEN, except EPS) REPORTED CORE ACTUAL % ACTUAL % CER2 % CHANGE FY2025 Q1 FY2024 Q1 CHANGE FY2025 Q1 FY2024 Q

  6. Slide 6: Growth & Launch Products +5.0% at CER in Q1

    Growth & Launch Products +5.0% at CER in Q1 with Higher Growth Rate Anticipated in Subsequent Quarters Balanced Portfolio Across 6 Key Business Areas PLASMA-DERIVED GI RARE DISEASES THERAPIES (PDT) ONCOLOGY VACCINES NEUROSCIENCE % of Sales: 31% % of Sales: 18% % of Sales: 24% % of Sales: 13% % of Sa

  7. Slide 7: FY2025 Q1 Revenue vs Prior Year

    FY2025 Q1 Revenue: Growth Rate Reflects VYVANSE Rebound in FY24 Q1 and FX Headwind FY2025 Q1 REVENUE VS PRIOR YEAR (BN JPY) -8.4% -3.7% at CER 1,208.0 Growth of +5.0% at CER -56.1 Mainly VYVANSE 1,106.7 FY2024 Q1 Growth & Launch LOE impacted Other products FX FY2025 Q1 Revenue Products products Reve

  8. Slide 8: FY2025 Q1 Core Operating Profit

    FY2025 Q1 Core Operating Profit: Operational Efficiencies Partially Offset VYVANSE LOE Impact FY2025 Q1 CORE OPERATING PROFIT VS PRIOR YEAR (BN JPY) -15.8% -11.9% at CER 382.3 -14.8 321.8 Gross Profit Impact FY2024 Q1 Growth & Launch LOE impacted Investment in Other OPEX FX FY2025 Q1 Core Operating

  9. Slide 9: FY2025 Q1 Reported Operating Profit

    FY2025 Q1 Reported Operating Profit: Increase Reflects Lower Impairment & Restructuring Expenses Compared to Prior Year FY2025 Q1 REPORTED OPERATING PROFIT VS PRIOR YEAR (BN JPY) +11.0% -5.0 184.6 166.3 Mainly due to lower restructuring costs and higher divestiture income in FY25 Q1 Improvement refl

  10. Slide 10: Debt Maturity Ladder and Bond Issuances

    Repaid Maturing Debt in Q1; Executed JPY & USD Bond Issuances in June/July to Re-finance Syndicated Loans Pre-Paid in FY2024 MATURITY LADDER AS OF 30 JUNE 2025 (AS ADJUSTED) 1 800 LEVERAGE NEUTRAL DEBT FINANCING 600 JPY Bond (JPY 184.0B), June 2025 USD Bond ($2.4B), July 2025 BILLION JPY 400 HYBRID

  11. Slide 11: No Change to Full-Year FY2025 Outlook

    No Change to Full-Year FY2025 Outlook Announced in May (BN YEN, except EPS) REPORTED CORE CORE CHANGE AT CER FY2025 FORECAST VS. PRIOR YEAR FY2025 FORECAST VS. PRIOR YEAR FY2025 MANAGEMENT GUIDANCE REVENUE 4,530.0 -1.1% 4,530.0 -1.1% Broadly Flat OPERATING PROFIT 475.0 +38.7% 1,140.0 -1.9% Broadly F

  12. Slide 12: Takeda's Global Manufacturing and Tariff Exposure

    Takeda’s Global Manufacturing is Centered in U.S., Europe, Japan & Singapore • Tariff exposure is determined by revenue contribution of imports, manufacturing location / country of origin, and transfer pricing policy. • Based on current assumptions, Takeda believes our likely potential exposure to U

  13. Slide 13: Agenda

    Opening Remarks Christophe Weber, President & CEO Financial Highlights Milano Furuta, Chief Financial Officer AGENDA Pipeline Update Andy Plump, President, R&D Q&A Question & Answer Session

  14. Slide 14: Oveporexton Phase 3 Met All Primary and Secondary Endpoints

    Oveporexton (TAK-861): Phase 3 Met All Primary and Secondary Endpoints; Transformative Potential to Establish New Standard of Care in NT1 1 Majority of NT1 Patients Achieved Normative Ranges 12-week treatment period Across a Broad Spectrum of Symptoms Placebo Ph3 TAK-861 3001 Primary Endpoint: ✓ Mai

  15. Slide 15: Oveporexton Results Reinforce Conviction in Orexin Biology

    Oveporexton Phase 3 Results Reinforce Conviction in Orexin Biology Moving Full Speed Ahead With Multi-Asset Orexin Pipeline • Potential significant first mover advantage with orexin agonist launch – addressing Oveporexton: the underlying pathophysiology of orexin deficiency in NT11 First & Fast in N

  16. Slide 16: Beyond Oveporexton: Pipeline Achievements Since Q4

    Beyond Oveporexton: Significant Pipeline Achievements Since Q4 rusfertide zasocitinib Polycythemia Vera Psoriasis ASCO Plenary Presentation Phase 3 Head-to-Head Start vs deucravacitinib Major NME Milestones elritercept 2L Anemia-associated MDS Phase 3 Start Regional Approvals FL HL (BrECADD) EU Appr

  17. Slide 17: FY25 is a Pivotal Year for the Late-Stage Pipeline

    FY25 is a Pivotal Year for the Late-Stage Pipeline Rusfertide Oveporexton Zasocitinib VERIFY Study The First Light Study Polycythemia Vera The Radiant Light Study ASCO Plenary Session 2025 Narcolepsy Type 1 H1 FY25 Positive Phase 3 Data Positive Phase 3 Data The First Light Study LATITUDE-PsO-3004 T

  18. Slide 18: Accelerating Development of Life Transforming Medicines

    Accelerating the Development of Life Transforming Medicines which have the Potential to Generate Significant Value FY25 FY26 FY27 - 29 Psoriasis Psoriasis Head-to-Head vs. deucravacitinib Start Target Filing Psoriatic Arthritis Target Filing zasocitinib (TAK-279) Crohn’s -- Ph2b Readout UC -- Ph2b R

  19. Slide 19: Q&A Session

    Q&A SESSION C H R I ST O P H E W E B E R ANDY PLUMP M I L ANO FU R U T A JULIE KIM Representative Director; Director; President, Director; President, President & CEO Research & Development Chief Financial Officer US Business Unit

  20. Slide 20: Appendix

    APPENDIX

  21. Slide 21: ENTYVIO Momentum Continues with Expansion of ENTYVIO PEN

    G A ST ROE NTEROLOGY (G I) ENTYVIO Momentum Continues with Expansion of ENTYVIO PEN GI PORTFOLIO FY2025 Q1 Revenue JPY 232.5B (+4.9% growth at CER) FY 2 0 2 5 Q1 R E V E N U E (BN JPY) • In the U.S., ENTYVIO remains the #1 prescribed brand in IBD (UC and Crohn’s combined)1 and is the only gut- focus

  22. Slide 22: Sustained TAKHZYRO Growth; LIVTENCITY Strong Penetration

    R A R E D ISE A SE S Sustained TAKHZYRO Growth with ~6,500 Patients Treated Globally; LIVTENCITY Strong Market Penetration in the U.S. & Rapid Geo Expansion RARE DISEASES PORTFOLIO FY2025 Q1 Revenue JPY 55.1B (+3.7% growth at CER) FY 2 0 2 5 Q1 R E V E N U E • 7 years in the market, TAKHZYRO continu

  23. Slide 23: PDT Portfolio Continues to Deliver Solid Growth

    PLA SMA - D ERIVED T H ER A PIES PDT Portfolio: Continues to Deliver Solid Growth Driven by Sales of Immunoglobulin and Albumin Products PDT PORTFOLIO Immunoglobulin Albumin FY 2 0 2 5 Q 1 R E V E N U E FY25 Q1 Revenue JPY 194.0B FY25 Q1 Revenue JPY 32.2B (BN JPY) (+2.0% growth at CER) (+16.2% growt

  24. Slide 24: Growth of Oncology Portfolio Driven by ADCETRIS and FRUZAQLA

    O N C O LO G Y Growth of Oncology Portfolio Driven by ADCETRIS and FRUZAQLA ONCOLOGY PORTFOLIO FY2025 Q1 Revenue JPY 37.2B (+13.2% growth at CER) FY 2 0 2 5 Q1 R E V E N U E (BN JPY) • Increased use in 1L Hodgkin lymphoma is primary driver of growth • In June, the European Commission approved ADCETR

  25. Slide 25: QDENGA Demand Continues to Exceed Expectations

    V A C C IN E S QDENGA Demand Continues to Exceed Expectations, with Q1 Growth Impacted by Shipment Timing VACCINES PORTFOLIO FY 2 0 2 5 Q1 R E V E N U E FY2025 Q1 Revenue JPY 8.8B (-4.8% change at CER) (BN JPY) • Q1 year-on-year growth impacted by shipment timing; Full-year guidance of 65% growth at

  26. Slide 26: VYVANSE U.S. Loss of Exclusivity Impact

    N E UR O SC IE N CE VYVANSE U.S. Loss of Exclusivity Impact from August 2023 NEUROSCIENCE PORTFOLIO FY2025 Q1 Revenue JPY 57.9B (-46.9% change at CER) FY 2 0 2 5 Q1 R E V E N U E (BN JPY) VYVANSE U.S. Weekly Volume (million units)2 • U.S. revenue declined -53.8% at CER in FY2025 Q1, reflecting broad

  27. Slide 27: Maximizing Potential of Marketed Portfolio Through LCM Expansions

    Maximizing Potential of Marketed Portfolio Through LCM Expansions FY25 FY26 ENTYVIO IV Target Filing Crohn’s/UC Peds (US, EU) GASTROINTESTINAL AND INFLAMMATION ADZYNMA ADZYNMA iTTP Proof-of-concept Ph3 Start iTTP mirvetuximab ONCOLOGY Target filing PROC (JP) GAMMAGARD LIQUID TAK-881 Ph3 Start SID Ta

  28. Slide 28: Potential Key Phase 3 NME Readouts and Indication Expansions

    Potential Key Phase 3 NME Readouts and Indication Expansions oveporexton Narcolepsy type 1 Phase 3 readout KEY PIVOTAL zasocitinib Psoriasis Phase 3 readout READOUTS mirvetuximab Platinum resistant ovarian cancer Pivotal readout1 ADCETRIS Frontline Hodgkin lymphoma (BrECADD regimen) EU approval KEY

  29. Slide 29: Consolidated Development Pipeline by Phase

    Consolidated Development Pipeline by Phase PHASE 1 (2 NMEs) PHASE 2 (9 NMEs + 2 LCM) GASTROINTESTINAL TAK-004 zasocitinib zasocitinib TAK-101 TAK-227 ADZYNMA® Crohn’s Disease Ulcerative Colitis Celiac Disease Celiac Disease iTTP AND INFLAMMATION Nausea & Vomiting danavorexton TAK-341 TAK-594 NEUROSC

  30. Slide 30: Consolidated Development Pipeline by Phase

    Consolidated Development Pipeline by Phase PHASE 3 (6 NMEs + 12 LCMs) FILED (10 LCMs) zasocitinib zasocitinib mezagitamab mezagitamab ADZYNMA® Psoriasis Psoriatic Arthritis ITP IgAN1 cTTP (CN) GASTROINTESTINAL AND INFLAMMATION fazirsiran ENTYVIO® IV ENTYVIO® SC AATD Liver Disease Pediatric UC/Crohn’

  31. Slide 31: Zasocitinib (TAK-279): Best-in-class potential

    Zasocitinib (TAK-279): Best-in-class potential due to high selectivity, once daily oral administration PHASE 2 START PHASE 2b READOUT PHASE 3 FILING Ph2b March 2023 Ph3 Start FY2023 Target FY2026 Psoriasis H2H vs. deucra Start FY2025 Psoriatic Arthritis Ph2b September 2023 Ph3 Start FY2024 Target FY

  32. Slide 32: Continuing Evidence Generation and Indication Expansion

    Continuing Evidence Generation and Indication Expansion PHASE 3 PHASE 3b / 4 PUBLISHED APPROVED ENTYVIO® IV ENTYVIO® IV (VERDICT) ENTYVIO® IV (VARSITY) ENTYVIO® IV Pediatric (Global) (Global)3,4 ENT vs. ada1 (Global) ENTYVIO® SC ENTYVIO® IV (EXIGEM) ENTYVIO® SC Ulcerative colitis Pediatric (Global)

  33. Slide 33: Glossary of Abbreviations

    Glossary of Abbreviations Regional Abbreviations: CN: China; EU: Europe; JP: Japan; U.S.: United States of America AA anemia-associated H2H head-to-head NT1 or 2 narcolepsy type 1 or 2 AATD α1-antitrypsin deficiency HAE hereditary angioedema OX2R orexin 2 receptor AATD LD α1-antitrypsin deficiency a

  34. Slide 34: Financial Appendix

    Exhibit 99.1 FINANCIAL APPENDIX Definition of Non-IFRS Measures Definition and Explanation of Non-IFRS Measures and U.S. Dollar Convenience Translations A-1 Reconciliations and Other Financial Information FY2025 Q1 Reported Results with CER % Change A-4 FY2025 Q1 Core Results with CER % Change A-5 F

  35. Slide 35: Definition and Explanation of Non-IFRS Measures

    Definition and Explanation of Non-IFRS Measures and U.S. Dollar Convenience Translations Core Financial Measures Takeda’s Core Financial Measures, particularly Core Revenue, Core Operating Profit, Core Net Profit for the Year attributable to owners of the Company and Core EPS, exclude revenue from d

  36. Slide 36: Free Cash Flow and Adjusted Free Cash Flow

    Free Cash Flow and Adjusted Free Cash Flow Takeda defines Free Cash Flow as cash flows from operating activities less acquisition of property, plant and equipment (“PP&E”). Takeda defines Adjusted Free Cash Flow as cash flows from operating activities, subtracting payments for acquisition of PP&E, i

  37. Slide 37: Net Debt and Adjusted Net Debt

    Net Debt and Adjusted Net Debt Takeda defines Net Debt as the book value of bonds and loans on consolidated statements of financial position adjusted only for cash and cash equivalents and Adjusted Net Debt first by calculating the sum of the current and non-current portions of bonds and loans as sh

  38. Slide 38: FY2025 Q1 Reported Results with CER % Change

    FY2025 Q1 Reported Results with CER % Change (Million USD, AER CER except EPS) FY2024 FY2025 (Billion JPY, except EPS) FY2025 Q1 Q1 Q1 JPY Change % Change % Change Convenience USD Translation Revenue 1,208.0 1,106.7 (101.3) (8.4)% (3.7)% 7,676 Cost of sales (387.0) (384.7) 2.3 0.6% (4.3)% (2,668) Gr

  39. Slide 39: FY2025 Q1 Core Results with CER % Change

    FY2025 Q1 Core Results with CER % Change (Million USD, AER CER except EPS) FY2024 FY2025 (Billion JPY, except EPS) FY2025 Q1 Q1 Q1 JPY Change % Change % Change Convenience USD Translation Revenue 1,208.0 1,106.7 (101.3) (8.4)% (3.7)% 7,676 Cost of sales (387.1) (384.9) 2.2 0.6% (4.4)% (2,670) Gross

  40. Slide 40: FY2025 Q1 Reconciliation from Reported to Core

    FY2025 Q1 Reconciliation from Reported to Core Reported to Core adjustments (Billion JPY, except EPS and number of shares) Reported Amortization of Impairment of Other Core intangible intangible operating income/ Others assets assets expenses Revenue 1,106.7 1,106.7 Cost of sales (384.7) (0.2) (384.

  41. Slide 41: FY2024 Q1 Reconciliation from Reported to Core

    FY2024 Q1 Reconciliation from Reported to Core Reported to Core adjustments (Billion JPY, except EPS and number of shares) Reported Amortization of Impairment of Other Core intangible intangible operating income/ Others assets assets expenses Revenue 1,208.0 1,208.0 Cost of sales (387.0) (0.1) (387.

  42. Slide 42: FY2025 Q1 Adjusted Free Cash Flow

    FY2025 Q1 Adjusted Free Cash Flow (Million USD) FY2024 FY2025 FY2025 Q1 (Billion JPY) JPY Change % Change Q1 Q1 Convenience USD Translation Net profit 95.3 124.3 29.0 30.4 % 862 Depreciation, amortization and impairment losses 218.2 184.0 (34.2) 1,276 Decrease (increase) in trade working capital (95

  43. Slide 43: FY2025 Q1 Adjusted Net Debt to Adjusted EBITDA

    FY2025 Q1 Adjusted Net Debt to Adjusted EBITDA ADJUSTED NET DEBT/ADJUSTED EBITDA RATIO NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FY2025 FY2024 FY2025 JPY (Billion JPY) (Billion JPY) Q1 Q1 Q1 Change % Change Book value of bonds and loans on consolidated statement of Net cash from operating

  44. Slide 44: FY2024 Adjusted Net Debt to Adjusted EBITDA

    FY2024 Adjusted Net Debt to Adjusted EBITDA ADJUSTED NET DEBT/ADJUSTED EBITDA RATIO NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS JPY (Billion JPY) FY2024 (Billion JPY) FY2023 FY2024 Change % Change Book value of bonds and loans on consolidated statement of Net cash from operating activities

  45. Slide 45: FY2025 Q1 Net Profit to Adjusted EBITDA Bridge

    FY2025 Q1 Net Profit to Adjusted EBITDA Bridge FY2024 FY2025 (Billion JPY) JPY Change % Change Q1 Q1 Net profit 95.3 124.3 29.0 30.4 % Income tax expenses (benefit) 41.3 26.4 Depreciation and amortization 192.2 181.6 Interest expense, net 26.6 29.2 EBITDA 355.4 361.5 6.0 1.7 % Impairment losses 26.0

  46. Slide 46: FY2025 Q1 Net Profit to Adjusted EBITDA LTM Bridge

    FY2025 Q1 Net Profit to Adjusted EBITDA LTM Bridge FY2024 FY2024 FY2025 FY2025 (Billion JPY) Full Year Q1 Q1 Q1 LTM*1 (Apr - Mar) (Apr - Jun) (Apr - Jun) (Jul - Jun) Net profit 108.1 95.3 124.3 137.1 Income tax expenses (benefit) 66.9 41.3 26.4 52.0 Depreciation and amortization 761.4 192.2 181.6 75

  47. Slide 47: FY2025 Q1 CAPEX, Depreciation and Amortization and Impairment Losses

    FY2025 Q1 CAPEX, Depreciation and Amortization and Impairment Losses (Billion JPY) FY2024 Q1 FY2025 Q1 JPY Change % Change FY2025 Forecast Capital expenditures*1 137.8 75.1 (62.7) (45.5)% 270.0 - 320.0 Tangible assets 57.4 47.9 (9.5) (16.6)% Intangible assets 80.4 27.2 (53.2) (66.2)% Depreciation an

  48. Slide 48: FY2025 Full Year Detailed Forecast

    FY2025 Full Year Detailed Forecast FY2024 FY2025 Forecast JPY % (BN JPY) (May 8, 2025) Change Change Variances Actual LOE impact (mainly VYVANSE), pricing and FX headwinds, partially offset by Growth & Revenue 4,581.6 4,530.0 (51.6) (1.1)% Launch Products Cost of sales (1,580.2) (1,540.0) 40.2 2.5%

  49. Slide 49: FY2025 Full Year Reconciliation to Core Operating Profit Forecast

    FY2025 Full Year Reconciliation from Reported Operating Profit to Core Operating Profit Forecast Reported to Core adjustments (Billion JPY) Reported Amortization of Impairment of Core Other operating intangible intangible income (expenses) assets assets Revenue 4,530.0 4,530.0 Cost of sales (1,540.0

  50. Slide 50: FY2025 FX Rates Assumptions and Currency Sensitivity

    FY2025 Full Year FX Rates Assumptions and Currency Sensitivity vs. Forecast Average Exchange Rates vs. JPY Impact of depreciation of yen from April 2025 to March 2026 (100 million JPY) Core FY2024 FY2025 FY2025 Full Year Operating Revenue Net Profit Operating Actual Actual Assumption Profit (IFRS) (

  51. Slide 51: Takeda Investor Relations

    Takeda Investor Relations: takeda.ir.contact@takeda.com © 2025 Takeda Pharmaceutical Company Limited. All rights reserved.

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