Matsubara

Asked for the reasons behind the weak Q1 sales performance in the U.S. market overall, and specifically for the product TAKHZYRO, while also inquiring about the upcoming competitive threat to TAKHZYRO.

Answer

The company attributed the weak U.S. performance primarily to the significant impact of Vyvanse generic erosion and the Medicare Part D redesign. For TAKHZYRO, the softness was explained by lower channel inventory, and the company expressed confidence in defending its market share against new competitors based on its strong long-term safety and efficacy profile.

Matsubara from Nomura Securities questioned the flat quarter-on-quarter growth of Entyvio, asking if it was due to shipment timing or competitive pressures. He also asked about the strategic expectations for incoming CEO Julie Kim.

Answer

CEO Christophe Weber attributed the Entyvio growth rate to one-off effects, including shipment phasing and a gross-to-net adjustment, stating underlying year-to-date growth was strong at over 9%. Regarding the CEO transition, he emphasized that Julie Kim was integral to the current strategy and no major directional changes are expected.

An analyst named Matsubara inquired about the current supply situation for VYVANSE generics and the expected timing of its revenue decline. He also asked about Takeda's immunoglobulin business, specifically regarding measures to improve its operating profit margin, such as managing donor fees.

Answer

Julie Kim, President of Takeda's U.S. Business Unit, explained that while VYVANSE demand was higher than expected in Q1, generic supply is improving and erosion is expected to accelerate as planned. President and CEO Christophe Weber added that the Plasma-Derived Therapies (PDT) margin has been improving due to supply chain optimization, full capacity utilization, and stable donor fees, with faster growth in subcutaneous products also contributing positively.

An analyst identified as Matsubara asked about the current supply situation for VYVANSE generics and the expected timing of its impact on revenue, and also inquired about measures to improve the operating profit margin for the immunoglobulin business.

Answer

Julie Kim, an executive at Takeda, explained that generic supply for VYVANSE is improving and the erosion of Takeda's brand is expected to proceed as planned. President and CEO Christophe Weber added that the margin for the Plasma-Derived Therapies (PDT) business is improving due to supply chain optimization, full manufacturing capacity utilization, and stable donor fees.

Katsura Matsubara from Nomura Securities asked for the reasons behind the weak Q1 revenue performance in the U.S. and specifically for TAKHZYRO. He also inquired about the future competitive threat to TAKHZYRO from a new market entrant.

Answer

U.S. Business Unit President Julie Kim cited the impact of Medicare Part D redesign as a factor in the overall U.S. performance. For TAKHZYRO, she stated the product remains strong and competitive based on its long-term efficacy and safety data. CFO Milano Furuta added that the Vyvanse loss of exclusivity was the biggest driver of the soft U.S. numbers and that lower channel inventory also impacted TAKHZYRO's reported sales.