Takeda Pharmaceutical Company Limited (NYSE:TAK) reported a fiscal year 2024 net profit of 107.9 billion yen (around $709.86 million), down 25.1% year over year.

Core net profit increased 2.5% (down 3.4% at constant currency) to 775.6 billion yen.

Takeda CEO Christophe Weber said, "Takeda delivered excellent results in FY2024. Our return to Core Operating Profit margin growth underscores the strength of our Growth & Launch Products portfolio and the ability of our multi-year efficiency program to deliver meaningful cost savings.

Revenue was 4.26 trillion yen (around $28.4 billion), up 7.5% (or up 29% at constant currency).

• The increase is attributable to favorable foreign exchange rates and growth from business momentum of Gastroenterology (GI), Rare Diseases, Plasma-Derived Therapies (PDT), Oncology, and Vaccines, partly offset by a decrease in Neuroscience.

Takeda reported the fiscal year 2024 operating profit of 342.6 billion yen, up 60%, and core operating profit of 1.162 trillion yen, up 10.2% (up 4.9% on constant currency).

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Takeda expects the potential exposure to U.S. and China tariffs to be limited. It notes:

• 50% of the total Takeda revenue is from the U.S.
• The value of imports (primarily from Europe/Japan/Singapore) is around 8 to 10% of total U.S. revenue.
• Around 4% of the total Takeda revenue is from China.
• The value of imports (from the U.S.) is around 12% to 15% of total China revenue.
• Takeda said it is taking mitigation measures (e.g., inventory and supply chain management) for imports that may be subject to potential tariff impacts.

Guidance: Takeda forecasts its operating profit will reach 475 billion yen in the fiscal year 2025, broadly flat year over year on a constant currency basis.

The company expects revenues of 4.53 trillion yen, reported earnings per share of 145 yen, and core earnings of 485 yen per share.

"FY2025 will be a pivotal year as we invest in launch readiness for the late-stage pipeline, which will contribute to our broadly flat Core Operating Profit outlook for FY2025 but will be key to achieving Takeda's long-term growth potential," Weber said.

Price Action: TAK stock is down 5.2% at $14.26 at last check Thursday.

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