Takeda Q1 FY2026 results and ORZEYFUL China approval
- Revenue +10.2% on an actual exchange rate basis and -0.5% on a constant exchange rate basis, largely affected by VYVANSE loss of exclusivity.
- Core operating profit +11.5% AER and -0.5% CER; reported operating profit +9.1% AER.
- Adjusted free cash flow amounted to JPY 68.6 billion.
- ORZEYFUL (oveporexton) received its first approval in China and launch preparations for ORZEYFUL, rusfertide and zasocitinib are progressing on schedule.
Quarter performance
Takeda reported FY2026 first-quarter results for the period April 1–June 30, 2026, describing the quarter as a solid start driven by disciplined execution and resilient demand across core in-line brands under a new operating model. Management noted the loss of exclusivity for VYVANSE negatively affected constant-currency comparatives.
Financial metrics
Revenue rose +10.2% versus the prior-year period on an actual exchange rate (AER) basis and fell -0.5% on a constant exchange rate (CER) basis. Core operating profit increased +11.5% AER and -0.5% CER, while reported operating profit increased +9.1% AER. Core EPS was +1.5% AER and -11.8% CER; reported EPS declined -9.8% year‑on‑year. Adjusted free cash flow totalled JPY 68.6 billion. Management said transformation-driven OPEX savings are being strategically reinvested to fund future growth opportunities.
Pipeline and launches
Launch preparations for late-stage assets ORZEYFUL (oveporexton), rusfertide and zasocitinib are progressing on schedule. ORZEYFUL achieved its first approval in China, establishing a foundation for the next wave of medicines.
Guidance and investor timetable
Takeda left its FY2026 full-year forecast and management guidance unchanged. A Capital Markets Day is scheduled for December 11, 2026 in Tokyo, where the company will present its strategic roadmap and two-horizon growth priorities.
Source: Takeda
