Takeda Pharmaceutical

Takeda is a Japanese pharmaceutical company. It sells medicines in six key business areas: gastroenterology (GI), rare diseases, plasma-derived therapies (PDT), oncology, vaccines and neuroscience. In the six months to September 30, 2026, revenue was ¥2,407.0 billion. GI gave ¥776.8 billion, PDT ¥561.2 billion, rare diseases ¥395.7 billion, oncology ¥317.0 billion and neuroscience ¥220.9 billion.

ENTYVIO, for ulcerative colitis and Crohn's disease, is the largest product, with sales of ¥541.7 billion in the six months. The United States gave ¥1,130.7 billion of revenue and Japan ¥213.9 billion. Takeda reports in yen under IFRS, and its fiscal year ends on March 31. Its shares trade in Tokyo, and TAK is an ADR on the New York Stock Exchange.

One ADS represents one half of one share. Julie Kim is President and Chief Executive Officer.

Takeda trades above the AI estimate because investors pay for its new medicines, such as ORZEYFUL for narcolepsy type 1 and MIMRYLO for polycythemia vera, both approved in the United States in August 2026, and for zasocitinib, an oral psoriasis medicine that waits for an FDA decision. At constant exchange rates, Takeda expects Core EPS to fall by a low-teens percentage in the fiscal year to March 31, 2027, because older products lose sales to generic medicines. For the shares to keep this price, three things must be true. The FDA must approve zasocitinib in the first quarter of 2027, and its launch must start well.

The new medicines must grow fast enough that Core EPS grows again in the fiscal year to March 2028. The ratio of adjusted net debt to adjusted EBITDA, 2.5 times at September 30, 2026, must not rise. The FDA decision on zasocitinib and the results for the nine months to December 2026, expected in late January 2027, are the next tests. A delay or a weak launch can push the shares down to the AI estimate.

AI estimate, checked by Kevin. How it is made

1. Oct 29, 2026Passed

   Results for the six months to September 2026 and forecastCore EPS growth and a confirmed or higher forecast pass; a lower forecast fails.Outcome: Core EPS rose to ¥308, and Takeda raised its Core EPS forecast to ¥482.
2. Jan 28, 2027 · est.Pending

   Results for the nine months to December 2026A confirmed Core EPS forecast of ¥482 or more and growth of the new launches pass; a forecast cut fails.
3. Q1 2027Pending

   FDA decision on zasocitinib for plaque psoriasisApproval by the target action date passes; a delay or a refusal fails.

Every passed and failed checkpoint across all picks

• October 29, 2026Takeda reported results for the six months to September 30, 2026. Revenue rose 8.4% to ¥2,407.0 billion, but fell 1.0% at constant exchange rates. Operating profit rose 60.4% to ¥406.7 billion, and Core EPS was ¥308, against ¥279 a year earlier. Takeda raised its forecast for the fiscal year to March 31, 2027 to revenue of ¥4,700.0 billion, Core operating profit of ¥1,190.0 billion and Core EPS of ¥482, mainly because of a weaker yen.
• September 14, 2026The FDA accepted the New Drug Application for zasocitinib (TAK-279), an oral TYK2 inhibitor, for adults with moderate-to-severe plaque psoriasis, under Priority Review. The target action date is in the first quarter of 2027. In the Phase 3 studies, about 70% of patients had clear or almost clear skin at week 16.
• August 28, 2026The FDA approved MIMRYLO (rusfertide) for erythrocytosis in adults with polycythemia vera, a blood cancer. In the Phase 3 VERIFY study, 76.9% of patients had a clinical response during weeks 20 to 32.

Next earnings

Expected about January 28, 2027. The company has not confirmed the date.

• 20-FAnnual report for the period ended Mar 31, 2026Filed June 17, 2026 · tak-20260331
• 20-FAnnual report for the period ended Mar 31, 2025Filed June 25, 2025 · tak-20250331

Every filing on SEC EDGAR (CIK 1395064)

• Older products lose sales to generic medicines. Takeda expects Core revenue to fall by a low-single-digit percentage at constant exchange rates in the fiscal year to March 31, 2027.
• The FDA can delay or refuse zasocitinib, and new medicines such as ORZEYFUL and MIMRYLO can sell less than planned.
• Bonds and loans were ¥4,575.6 billion at September 30, 2026. Higher interest rates and a stronger yen against the U.S. dollar can reduce profit and cash flow.
• Drug pricing rules in the United States, which gave 47% of revenue in the six months to September 30, 2026, can lower the prices of Takeda's medicines.
• Takeda accrued interest for a court judgment in the AMITIZA litigation, and other lawsuits can cause more costs.
• Takeda reports in yen. A stronger yen lowers the value of each ADS in U.S. dollars, because the ADS price follows the share price in Tokyo.

Takeda funds itself mainly with bonds, including hybrid subordinated bonds, and with cash flow. Much of the debt comes from the purchase of Shire. Read more

Paid per share

$0.00 in the last 12 months (0 payments)

Latest ex-dividend date

March 31, 2025, $0.339 per share

Dividends per share by year

Source: company filings and market data, read on November 10, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.