Takeda sales, net income fall in FY10
Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) said on Wednesday that net income and sales fell in the fiscal year ended March 31 as a result of patent expiration for peptic ulcer drug Prevacid lansoprazole. Full-year sales were Y1.42 trillion ($17.2 billion), down 3% from Y1.47 trillion in the prior year. Takeda reported FY10 net income of Y247.9 billion ($3 billion), down 17% from Y297.7 billion in FY09.
The pharma projected that sales and net income would recover slightly in FY11 before trailing off in fiscal years 2012-13 as a result of the entry of generic competition for diabetes drug Actos pioglitazone in 2012. Sales are expected to grow to Y1.45 trillion in FY11, before falling to Y1.26 trillion in FY13. By FY15, Takeda hopes to return to FY10 financial levels through a combination of acquisitions, licensing activities and cost reductions, as well as investments in emerging markets. The pharma plans to enter the Russia/CIS and Eastern European markets by FY13. Takeda also said it would focus R&D investment in core therapeutic areas such as metabolic disease, cancer, CNS diseases, and inflammatory/inflammation diseases. ...