Takeda Pharmaceutical Company Limited (NYSE:TAK) Fiscal Year 2023 Earnings Conference Call May 9, 2024 6:00 AM ET

Company Participants

Christopher O’Reilly – Head-Investor Relations
Christophe Weber – President and Chief Executive Officer
Andy Plump – President of R&D
Milano Furuta – Chief Financial Officer
Ramona Sequeira – President of Global Portfolio Division
Julie Kim – President of U.S. Business Unit
Giles Platford – President, PDT Business Unit

Conference Call Participants

Steve Barker – Jefferies
Hidemaru Yamaguchi – Citi
Mike Nedelcovych – Cowen
Shinichiro Muraoka – Morgan Stanley
Tony Ren – Macquarie
Hiroyuki Matsubara – Nomura Securities
Kasumi Haruta – UBS
Geoff Watson – SMBC Nikko Securities

Christopher O’Reilly

Thank you very much for your participation in the Conference Call for the Financial Results for Fiscal Year 2023 of Takeda Pharmaceutical Company Limited. My name is O'Reilly, Head of Investor Relations. First, I'd like to explain about language settings. There are language selection button at the bottom of Zoom window. If we wish to listen in Japanese, please select Japanese. If you wish to listen in English, please select English or if you wish to listen to the raw original audio, please select off.

Before starting, I'd like to remind everyone that we'll be discussing forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those discussed today. The factors that could cause our actual results to differ materially are discussed in our most recent Form 20-F and in our other SEC filings. Please also refer to the important notice on Page 2 of the presentation regarding the forward-looking statements and our non-IFRS financial measures, which will also be discussed during this call. Definitions of our non-IFRS measures and reconciliations with a comparable IFRS financial measures are included in the appendix to the presentation. And I would like to move on to the presentation. Christophe Weber, President and CEO; Andy Plump, President of R&D; and Milano Furuta, Chief Financial Officer, will make a presentation. After that, we will have a question-and-answer session.

Now I would like to begin.

Christophe Weber

Thank you, Chris. Thank you all for joining our fiscal year 2023 earning call. It's really a pleasure to be with you all today. In fiscal year 2023, we continued to demonstrate our ability to discover and deliver life-transforming treatments. This vision, along with our values, is central to our strategy and daily execution. I will now review our full year performance and our priorities ahead. First, fiscal year 2023. To summarize, fiscal year 2023, it was a well managed, but tough year. Despite significant generic headwinds, our top line performance exceeded management guidance with core revenue growth of plus 1.5% at constant exchange rate. This growth was driven primarily by the performance of our growth and launch products, which increased 12.8% year-over-year and now represent 43% of our total revenues.