Highlights 

  • First half revenue decreased 3.9% at CER, driven by VYVANSE® erosion and FX pressures 
  • Core operating profit declined 8.8% at CER, with operational efficiencies partially offsetting impact 
  • Regulatory submissions for rusfertide and oveporexton anticipated in second half of FY2025 

Takeda Pharmaceutical Company Limited (NYSE:TAK) announced results for the first half of fiscal year 2025, covering the six months ended September 30, 2025. Revenue fell 3.9% at constant exchange rate and 6.9% at actual exchange rate, mainly due to the generic erosion of VYVANSE® and the impact of foreign exchange fluctuations. 

Core operating profit was down 8.8% at CER, reflecting the decline in revenue and product mix changes. The company said these effects were partially mitigated by operational efficiency initiatives. Reported operating profit declined 27.7% at AER, reflecting impairment losses recognized in the second quarter. 

CEO: FY2025 Represents a Year of Transition 

Chief executive officer Christophe Weber stated that the results were consistent with the company’s expectations for a year of strategic transition toward new product launches. 

“Takeda’s fiscal year 2025 first half results are consistent with our expectations for core business progress in this year of transition to a new phase focusing on new product launches. Our updated full-year outlook reflects impairment charges associated with strategic pipeline decisions taken in Q2, as well as transactional FX. 

“Looking ahead, our current Growth and Launch Products portfolio will continue to generate moderate growth, which will accelerate in the future with new launches. We see FY2025 as a pivotal year for Takeda with regulatory filings for rusfertide and oveporexton expected in the second half of the year, as well as Phase 3 results for zasocitinib. We continue to expand our external partnerships to enhance the depth and breadth of our R&D pipeline and recently announced a global strategic partnership with Innovent Biologics to further strengthen our position in oncology.” 

Updated FY2025 Outlook and Pipeline Developments 

Takeda revised its full-year forecast to incorporate the effects of foreign exchange volatility and pipeline-related impairments recorded in the second quarter. The company continues to emphasize the advancement of its Growth and Launch Products and preparation for key regulatory submissions in the latter half of FY2025. 

Planned filings include rusfertide and oveporexton, while zasocitinib remains on track for Phase 3 trial results before the fiscal year-end. 

About Takeda 

Takeda Pharmaceutical Company Limited is a research and development–focused biopharmaceutical company headquartered in Japan. The company operates in therapeutic areas including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience, and vaccines. Takeda has operations in approximately 80 countries and regions worldwide.