Strong FY2024 Performance and Strategic Outlook for FY2025
The company reported core revenue growth of 7.4% at actual exchange rates (AER) and 2.8% at constant exchange rates (CER) for fiscal year 2024, reflecting solid product performance across key markets. Core operating profit grew by 4.9% at CER, driven by the ongoing efficiency program that continues to deliver meaningful cost savings.
Looking ahead, the pipeline is advancing strongly, with up to six new molecular entities expected to enter Phase 3 development during fiscal year 2025. Notably, three Phase 3 data readouts have been recently completed or are anticipated in the near term, marking important milestones for the company’s future portfolio.
For fiscal year 2025, the company projects broadly flat revenue and core profit, as robust product momentum is balanced by increased investments in preparation for upcoming new product launches.
In line with its commitment to shareholder returns, the company has also proposed a dividend increase from JPY 196 to JPY 200.
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) today announced its financial results for fiscal year 2024, which ended on March 31, 2025. The company reported continued strong momentum from its Growth & Launch Products, which helped offset the impact of recent loss of exclusivity and drove both revenue and Core Operating Profit growth, supported by effective cost management initiatives.
Takeda has also built a robust late-stage pipeline, featuring several potentially life-changing treatment options for patients. Following the positive Phase 3 results for rusfertide in Oncology announced in March 2025, the company is preparing for two additional Phase 3 readouts in key therapeutic areas within this fiscal year.
For fiscal year 2025, Takeda’s management guidance (at constant exchange rates, CER) reflects the continued effects of the VYVANSE® generic impact, ongoing efficiency savings, and significant investment in R&D and launch preparation for its late-stage pipeline.
Christophe Weber, Chief Executive Officer of Takeda, commented:
“Takeda delivered excellent results in FY2024. Our return to Core Operating Profit margin growth highlights the strength of our Growth & Launch Products portfolio and the meaningful cost savings delivered through our multi-year efficiency program. FY2025 will be a pivotal year as we invest in launch readiness for our late-stage pipeline. While this will result in broadly flat Core Operating Profit for the year, it will be critical for unlocking Takeda’s long-term growth potential.”
Milano Furuta, Chief Financial Officer, added:
“Takeda’s strong performance in FY2024, with growth in both revenue and Core Operating Profit, along with our outlook for broadly flat results in FY2025, reflects our ability to navigate one of the largest generic impacts in Takeda’s history. At the same time, we continue to advance a highly promising late-stage pipeline. Our performance and guidance underscore the strength of our Growth & Launch Products, the innovation embedded in our pipeline, and the resilience of our organization. Takeda is now at an inflection point, with multiple Phase 3 data readouts expected this fiscal year, and I am excited about our growth trajectory ahead.
FINANCIAL HIGHLIGHTS for FY2024 Ended March 31, 2025
(Billion yen, except percentages and per share amounts)
| Item | FY2024 | FY2023 | vs. PRIOR YEAR (Actual % change) |
|---|---|---|---|
| Revenue | 4,581.6 | 4,263.8 | +7.5% |
| Operating Profit | 342.6 | 214.1 | +60.0% |
| Net Profit | 107.9 | 144.1 | -25.1% |
| EPS (Yen) | 68 | 92 | -25.8% |
| Operating Cash Flow | 1,057.2 | 716.3 | +47.6% |
| Adjusted Free Cash Flow (Non-IFRS) | 769.0 | 283.4 | +171.3% |
Core (Non-IFRS)
(Billion yen, except percentages and per share amounts)
| Item | FY2024 | FY2023 | vs. PRIOR YEAR (Actual % change) | vs. PRIOR YEAR (CER % change) |
|---|---|---|---|---|
| Revenue | 4,579.8 | 4,263.8 | +7.4% | +2.8% |
| Operating Profit | 1,162.6 | 1,054.9 | +10.2% | +4.9% |
| Margin | 25.4% | 24.7% | +0.6pp | ― |
| Net Profit | 775.6 | 756.8 | +2.5% | -3.4% |
| EPS (Yen) | 491 | 484 | +1.5% | -4.3% |
FY2025 Outlook
(Billion yen, except percentages and per share amounts)
| Item | FY2025 FORECAST | FY2025 MANAGEMENT GUIDANCE Core Change at CER(Non-IFRS) |
|---|---|---|
| Revenue | 4,530.0 | ― |
| Core Revenue (Non-IFRS) | 4,530.0 | Broadly flat |
| Operating Profit | 475.0 | ― |
| Core Operating Profit (Non-IFRS) | 1,140.0 | Broadly flat |
| Net Profit | 228.0 | ― |
| EPS (Yen) | 145 | ― |
| Core EPS (Yen) (Non-IFRS) | 485 | Broadly flat |
| Adjusted Free Cash Flow (Non-IFRS) | 750.0-850.0 | ― |
| Annual Dividend per Share (Yen) | 200 | ― |
Additional Information About Takeda’s FY2024 Results
For more details about Takeda’s FY2024 results, commercial progress, pipeline updates and other financial information, including key assumptions in the FY2025 forecast and management guidance as well as definitions of non-IFRS measures, please refer to Takeda’s FY2024 Q4 investor presentation
About Takeda
Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries
