Takeda Pharmaceutical Company Limited (TYO:4502) (NYSE:TAK) ("Takeda") today announced financial results for the year ended March 31, 2020 (FY2019). As a top 10 global R&D-driven biopharmaceutical company, Takeda is demonstrating its innovation and values in its response to COVID-19 and in positioning itself for long-term success.
- FY2019 reported revenue JPY 3,291 billion, up 57% in first full year following acquisition of Shire.
- FY2019 reported operating profit greatly exceeded initial guidance to reach over JPY 100 billion, despite significant non-cash acquisition-related impact.
- Core operating profiti increased 110% year on year to JPY 962 billion.
- Takeda raised its cost synergy target to $2.3 billion and is on track to deliver on its targets to rapidly pay down debt and continue to divest non-core assets.
- Free cash flow up sharply by 156% to JPY 968 billion, enabling Takeda to sustain its well-established dividend policy of 180 yen per share.
- Takeda delivered positive reported net profit of JPY 44 billion for FY2019.
- Reported operating profit forecast to more than triple to JPY 355 billion in FY2020; Takeda's growth momentum expected to continue this year and accelerate in the medium term.