EarningsQ2 2026 Earnings Report
DE:TKDA Q2 2026 EPS Results
Actual EPS€0.34
Consensus EPS€0.13
Beat/MissBeat by +€0.21
One Year Ago EPS-€0.02
DE:TKDA Q2 2026 Revenue Results
Actual Revenue€6.65B
Expected Revenue€6.55B
Beat/MissBeat by +€103.68M
YoY Revenue Growth-1.24%
Earnings Announcement Details
QuarterQ2 2026
Date10/29/2026
TimeBefore Open
Conference CallThursday, October 29, 2026
DE:TKDA Upcoming Earnings
Takeda Pharmaceutical Company's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:TKDA Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive. Takeda reported core operating profit growth, raised full-year core profit and EPS guidance, advanced multiple regulatory and pipeline milestones, launched ORZEYFUL and MIMRYLO, and highlighted strong results for ENTYVIO and TAK-921. These positives were tempered by a 1% constant-exchange-rate revenue decline, a 1.2% core EPS decline, mature-portfolio and albumin headwinds, lower adjusted free cash flow, developing reimbursement for new products, and uncertainty around zasocitinib's ulcerative colitis dose response. Highlights significantly outweighed the lowlights.Company Guidance
Core Operating Profit Increased Despite Investment Year
First-half core operating profit was JPY 710.6 billion, up 0.7% at constant exchange rates and up 11.2% at actual exchange rates. Savings from the transformation program helped fund investments in new product launches and R&D.
Reported Financial Performance Improved
Reported EPS was JPY 193, representing year-on-year growth of 169% at actual exchange rates. Reported operating profit improved 60.4%, mainly due to lower amortization costs following the conclusion of VYVANSE amortization in January 2026 and lower impairment expenses.
Full-Year Core Profit and EPS Guidance Raised
Takeda maintained its revenue guidance for a low single-digit percent decline but raised management guidance for core operating profit and core EPS to reflect transaction FX benefits. The absolute revenue forecast was increased by JPY 60 billion and the core operating profit forecast by JPY 30 billion, with the operating profit forecast rising from JPY 1.16 trillion to JPY 1.19 trillion.
Transformation Program Delivering Savings
The transformation program remains on track to achieve JPY 100 billion of gross savings, with JPY 160 billion of restructuring costs in FY2026, JPY 10 billion less than originally forecast. Approximately 3,000 impacted roles had been communicated as of September 30, and procurement initiatives had generated approximately JPY 30 billion of annualized savings.
New Launches Growing Rapidly
Products launched within the past five years represented 4% of total revenue but grew 17.3% at constant exchange rates. Takeda expects the category to expand as ORZEYFUL, MIMRYLO and zasocitinib launch and gain uptake.
ORZEYFUL Launches in Japan and China
ORZEYFUL launched simultaneously in Japan and China on October 15 for narcolepsy type 1, with the company reporting very positive early responses from patients and healthcare professionals. The product had also received approval in the United States, where launch was expected immediately after DEA scheduling, anticipated by early November.
ORZEYFUL U.S. Launch Infrastructure Prepared
Takeda stated that its U.S. commercial and medical teams, specialty pharmacy distribution, payer engagement and patient support programs were ready for launch. The company had reached thousands of healthcare professionals through meetings, congress participation and educational programs, with feedback described as overwhelmingly positive.
ORZEYFUL Recognized for Scientific Innovation
ORZEYFUL was selected as one of TIME Magazine's Best Inventions of 2026 in the scientific innovation category. Its Phase III data were also published in the New England Journal of Medicine.
MIMRYLO Receives Early Positive Launch Feedback
MIMRYLO, a first-in-class hepcidin mimetic for polycythemia vera, received FDA approval on August 28 and became commercially available shortly thereafter. Management reported positive early feedback from physicians and patients, with launch execution proceeding as planned.
MIMRYLO Gains NCCN Category 1 Recommendation
MIMRYLO was incorporated into the NCCN guidelines in September as the only category 1 option for both low- and high-risk polycythemia vera. The product provides rapid, stable and durable hematocrit control, reduces phlebotomy requirements and improves fatigue in clinical trials.
Zasocitinib Regulatory Progress and Psoriasis Data
The FDA accepted zasocitinib's application for psoriasis under priority review, and the EMA accepted its marketing authorization application. In the Phase III LATITUDE Atlas trial, 36.5% of patients achieved complete skin clearance at week 16, described as the highest rate demonstrated by an oral psoriasis therapy, with itch improvement beginning as early as week 2 and a safety profile consistent with prior trials.
TAK-921 Demonstrates Positive Phase III Gastric Cancer Results
TAK-921 met its dual primary endpoints of overall survival and progression-free survival in previously treated advanced gastric cancer. The study showed a statistically significant and clinically meaningful overall survival benefit with a hazard ratio of 0.57, as well as an exceptional improvement in objective response rate.
TAK-921 Safety Profile Differentiated Versus Chemotherapy
In the TAK-921 Phase III study, grade III or higher treatment-related adverse events, dose reductions and treatment delays were less frequent than in the chemotherapy arm. Severe gastrointestinal toxicities, including nausea and vomiting, were limited.
Late-Stage Pipeline Continues to Advance
Takeda initiated a Phase III study of elritercept in myelofibrosis and stated that the program had also started a Phase III study in first-line myelodysplastic syndrome and was enrolling well. The company expects to file TAK-921 in Japan for previously treated advanced gastric cancer during fiscal year 2027.
ENTYVIO Maintains Resilient Performance
ENTYVIO continued to perform in line with expectations, supported by sustained demand growth, growth with the first-line market and uptake of the pen formulation. Global Q2 growth was 2.7% at constant exchange rates, and Takeda remained confident in its 2026 ENTYVIO guidance.
VERDICT Study Supports Treat-to-Target Use of ENTYVIO
The VERDICT study found that treating ulcerative colitis to more stringent endpoints with ENTYVIO reduced the risk of ulcerative-colitis-related complications by approximately 70%, with the benefit extending up to 80 weeks after target achievement. A total of 52.1% of patients assigned to Group III achieved the stringent disease-clearance target, while safety was similar across groups.
Immunoglobulin Demand and Subcutaneous Growth Remain Strong
Underlying immunoglobulin demand grew by mid-single digits. Subcutaneous immunoglobulin grew 17% in the first half, supported by Takeda's differentiated portfolio, and the company expects subcutaneous growth to remain strong while intravenous immunoglobulin growth accelerates in the second half due to large U.S. contracts.
TAK-881 Filing Progresses
Takeda completed the U.S. regulatory filing for TAK-881, its 20% next-generation facilitated subcutaneous immunoglobulin program for primary immune deficiency, and remained on track to complete filings in multiple indications in Europe and Japan later in the fiscal year.
DE:TKDA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed