Japanese pharmaceutical company Takeda Pharmaceutical reports a 56% drop in full-year profits for fiscal year 2024 due to patent loss and drug pipeline rebuilding.
Japanese pharmaceutical company Takeda Pharmaceutical reported a 56% drop in full-year profits for the year ended March 2024, attributing this to a focus on rebuilding its drug pipeline after losing patent protection for some major products. Operating profit for the 12-month period amounted to 214.1 billion yen, down from 490.5 billion yen in the previous year. Despite the significant drop in earnings, Takeda anticipates its operating profit to reach 225 billion yen in the current fiscal year and is planning to incur restructuring expenses of around 140 billion yen.
May 09, 2024
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