Takeda Releases 2024 Financial Report, Revenue Grows 7.4% YoY to 4.58 Trillion Yen

May 8, 2025 - Takeda Pharmaceutical Company Limited released its Q4 and full-year financial results for the fiscal year 2024. The report shows that despite global macroeconomic fluctuations and exchange rate impacts, Takeda has achieved steady growth in its core business areas and made significant breakthroughs in its R&D pipeline, laying a strong foundation for future growth.

Financial Highlights: Core Business Drives Growth

In fiscal year 2024, Takeda achieved total revenue of 4.58 trillion yen (approximately 30.56 billion USD), a 7.5% increase year-on-year (YoY) (at actual exchange rates, AER), and a 2.9% increase at constant exchange rates (CER). Core revenue reached 4.58 trillion yen, a 7.4% increase YoY (AER) and 2.8% (CER). Core operating profit was 1.16 trillion yen, up 10.2% YoY (AER) and 4.9% (CER). Although net profit decreased by 25.1% YoY to 107.9 billion yen due to one-time costs and exchange rate fluctuations, the core business showed strong performance, demonstrating the company’s sustained growth potential.

Performance by Business Segment:

• Gastroenterology (GI): Revenue grew 11.6% YoY to 1.36 trillion yen, driven by strong performance of the core product ENTYVIO (vedolizumab), which saw a 14.1% increase in sales to 914.1 billion yen. The launch of the subcutaneous formulation further supported market penetration.
• Rare Diseases: Revenue increased by 9.4% YoY to 752.8 billion yen, with TAKHZYRO (lanadelumab) growing 24.9% YoY to 223.2 billion yen, becoming a major driver of growth.
• Plasma-Derived Therapies (PDT): Revenue grew 14.3% YoY to 1.03 trillion yen, with the immunoglobulin product portfolio performing strongly, growing 17.6% YoY to 757.8 billion yen.
• Oncology: Revenue grew 21.2% YoY to 560.4 billion yen, driven primarily by the rapid uptake of FRUZAQLA (furmonertinib), with sales growing 375.7% to 48 billion yen.
• Neuroscience: Revenue decreased 9.8% YoY to 565.8 billion yen, mainly due to generic competition for VYVANSE (lisdexamfetamine) in the U.S. market.

R&D Pipeline Progress: Several Key Milestones Achieved

Takeda continued to advance innovation in R&D in fiscal year 2024, with several breakthroughs in its core therapeutic areas:

Gastroenterology and Inflammation:

• ENTYVIO (vedolizumab): The U.S. FDA approved the subcutaneous formulation in April 2024 for the maintenance treatment of Crohn's disease (CD), based on positive data from the VISIBLE 2 study.
• TAK-755 (apadazime): The European Commission approved it in August 2024 for the treatment of congenital thrombotic thrombocytopenic purpura (cTTP), and Japan submitted a pediatric indication application in March 2025.
• TAK-625 (maraliximab): The Japanese Ministry of Health, Labour and Welfare approved it in March 2025 for the treatment of pruritus in Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC).

Neuroscience:

• TAK-861 (orevoretinib): The Phase IIb study showed significant efficacy in narcolepsy type 1 (NT1), and it received breakthrough therapy designation from the U.S. FDA.
• TAK-935 (soticlestat): Due to the failure to meet primary endpoints in Phase III studies, the company decided to discontinue its development in Dravet syndrome and Lennox-Gastaut syndrome.

Oncology:

• ADCETRIS (brentuximab vedotin): The European CHMP recommended approval in April 2025 for its use in combination chemotherapy (BrECADD regimen) for newly diagnosed Hodgkin lymphoma.
• FRUZAQLA (furmonertinib): Approved in the EU and Japan in June and September 2024, respectively, for the treatment of metastatic colorectal cancer (mCRC).
• TAK-121 (ropeginterferon alfa-2b): The Phase III VERIFY study met its primary endpoint, significantly reducing the need for phlebotomy in patients with polycythemia vera (PV).

Financials and Capital Allocation: Robust Cash Flow and Shareholder Returns

In fiscal year 2024, Takeda generated operating cash flow of 1.06 trillion yen, a 47.6% increase YoY, and adjusted free cash flow grew significantly by 171.3% to 769 billion yen. The company continued to optimize its capital structure, reducing its net debt to adjusted EBITDA ratio from 3.1x to 2.8x, demonstrating strong financial health.

Regarding shareholder returns, Takeda announced a dividend of 196 yen per share for fiscal year 2024, with plans to increase the dividend to 200 yen per share in fiscal year 2025, reflecting the company’s commitment to shareholder returns. Additionally, in January 2025, Takeda launched a 100 billion yen share repurchase program to further optimize capital allocation.

Outlook for Fiscal Year 2025: Focus on Core Growth and Innovation

For fiscal year 2025, Takeda expects revenue to decline slightly by 1.1% to 4.53 trillion yen, mainly due to generic competition for VYVANSE in the U.S. market. However, core operating profit is expected to remain stable, and the company will continue to invest in R&D and core growth products, including ENTYVIO, TAKHZYRO, and QDENGA (dengue vaccine).

Management Guidance: Core revenue (CER) is expected to remain flat, and core operating profit and core earnings per share (Core EPS) are expected to remain stable. Despite short-term challenges, the company emphasizes that it has strong long-term growth drivers, with over 40 clinical-stage projects in its pipeline providing ongoing growth engines for the future.

Christophe Weber, President and CEO of Takeda Pharmaceutical, stated: "The results of fiscal year 2024 demonstrate the resilience of our core business and the potential of our innovative pipeline. Despite external challenges, we achieved steady growth through strategic execution and made significant progress in R&D. Moving forward, we will continue to focus on delivering transformative therapies to patients worldwide while creating sustainable value for shareholders."