Seiji Wakao's questions to Takeda Pharmaceutical Co Ltd (TAK) leadership • Q1 2025
Question
Seiji Wakao of JPMorgan asked if the recent approval of SKYRIZI for ulcerative colitis would negatively impact ENTYVIO's market share. He also questioned why the gross margin is expected to decline from 68% in Q1 to the full-year target of 65.5%.
Answer
Julie Kim, President, U.S. Business Unit, responded that ENTYVIO maintains its strong leadership in first-line treatment, as new entrants like SKYRIZI primarily compete in the second-line and beyond setting. CFO Milano Furuta explained the gross margin will decline due to the accelerating erosion of high-margin products like VYVANSE and a sales recovery for lower-margin albumin.