Takeda Pharmaceutical Company (TAKN) Q2 2026 Earnings Report
MX:TAKN Q2 2026 EPS Results
- Actual EPS
- MXN 7.22
- Consensus EPS
- MXN 2.72
- Beat/Miss
- Beat by +MXN 4.49
- One Year Ago EPS
- -MXN 0.47
MX:TAKN Q2 2026 Revenue Results
- Actual Revenue
- MXN 140.08B
- Expected Revenue
- MXN 137.90B
- Beat/Miss
- Beat by +MXN 2.18B
- YoY Revenue Growth
- -1.24%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 10/29/2026
- Time
- Before Open
- Conference Call
- Thursday, October 29, 2026
Takeda Pharmaceutical Company's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
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.
For FY ’26, Takeda maintained management guidance for revenue of low single-digit percent decline at CER, raised its core operating profit forecast by JPY 30 billion to JPY 1.19 trillion from JPY 1.16 trillion, and raised core EPS guidance, mainly due to transaction FX benefits; revenue guidance on an absolute basis was raised by JPY 60 billion. The company expects a growth rebound in immunoglobulin in the second half, expects China to return to growth in the near term for albumin, and expects SCIG to sustain its strong growth and IVIG growth to accelerate, driven by the momentum of the large contracts in the U.S. The transformation program remains on track to achieve JPY 100 billion of gross savings, with JPY 160 billion of restructuring costs in FY ’26, JPY 10 billion less than the original forecast. Takeda expects to launch ORZEYFUL in the U.S. by early November, a potential U.S. launch of zasocitinib following the FDA approval decision planned in the fourth quarter of fiscal year 2026, a Phase IIb Crohn’s readout around the end of fiscal year 2026, TAK-360 results in Q4 of fiscal year 2026, and a TAK-921 regulatory filing in Japan during fiscal year 2027.
- Core Operating Profit Increased Despite Investment YearFirst-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 ImprovedReported 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 RaisedTakeda 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 SavingsThe 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 RapidlyProducts 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 ChinaORZEYFUL 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 PreparedTakeda 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 InnovationORZEYFUL 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 FeedbackMIMRYLO, 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 RecommendationMIMRYLO 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 DataThe 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 ResultsTAK-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 ChemotherapyIn 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 AdvanceTakeda 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 PerformanceENTYVIO 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 ENTYVIOThe 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 StrongUnderlying 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 ProgressesTakeda 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.
MX:TAKN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 28, 2027 | 2026 (Q3) | 5.30- | 4 | ― | ― |
| Oct 29, 2026 | 2026 (Q2) | 2.727.22 | -0.47 | 1636.00% (+7.69) | |
| Jul 30, 2026 | 2026 (Q1) | 3.184.23 | 4.96 | -14.77% (-0.73) | |
| May 13, 2026 | 2025 (Q4) | -1.41-0.92 | -4.28 | 78.51% (+3.36) | |
| Jan 29, 2026 | 2025 (Q3) | 2.564.00 | 0.92 | 334.69% (+3.08) | |
| Oct 30, 2025 | 2025 (Q2) | 1.32-0.47 | 3.57 | -113.16% (-4.04) | |
| Jul 29, 2025 | 2025 (Q1) | 3.194.96 | 3.81 | 30.05% (+1.15) | |
| May 08, 2025 | 2024 (Q4) | -0.53-4.28 | -0.13 | -3157.14% (-4.15) | |
| Jan 30, 2025 | 2024 (Q3) | 1.600.92 | 4.28 | -78.51% (-3.36) | |
| Oct 31, 2024 | 2024 (Q2) | 2.333.57 | -1.95 | 282.69% (+5.52) |
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.
