<p>武田製藥公司最近的財報電話會議呈現出複雜的前景，既有令人鼓舞的發展，也面臨顯著的挑戰。儘管公司展示了強勁的產品管線進展和戰略合作伙伴關係，但這些積極因素被 VYVANSE 的仿製藥影響和影響盈利能力的匯率逆風所掩蓋。</p>
<h2>上市產品的增長</h2>
<p>武田報告稱，其上市產品在固定匯率下增長了 5.3%，預計在財年的下半年將實現更高的增長。這一增長是公司創新能力和成功推出新產品的積極指標。</p>
<h2>產品管線進展</h2>
<p>公司分享了 rusfertide 和 oveporexton 的第三階段研究的積極結果，並預計在日曆年末將公佈 zasocitinib 在銀屑病中的進一步第三階段數據。這些進展表明武田致力於擴大其治療產品，並滿足未被滿足的醫療需求。</p>
<h2>與信達生物的合作</h2>
<p>武田與信達生物建立了戰略合作伙伴關係，以增強其腫瘤學產品管線。此次合作旨在利用 IBI363 和 IBI343 等差異化資產，可能增強武田在競爭激烈的腫瘤學市場中的地位。</p>
<h2>Oveporexton 的潛力</h2>
<p>Oveporexton 在 1 型嗜睡症症狀方面顯示出顯著改善，並計劃在今年晚些時候提交美國申請。這一進展可能為患者提供新的治療選擇，並有助於武田在神經學領域的增長。</p>
<h2>強勁的現金流</h2>
<p>公司報告調整後的自由現金流為 5254 億日元，反映了營運資本的改善。這一強勁的現金流突顯了武田的財務健康狀況及其投資未來增長機會的能力。</p>
<h2>VYVANSE 收入影響</h2>
<p>VYVANSE 失去獨佔權導致約 1000 億日元的顯著收入損失，影響了上半年的業績。這一損失突顯了製藥公司在專利到期時面臨的挑戰。</p>
<h2>匯率逆風</h2>
<p>外匯交易影響，特別是來自歐元的影響，已影響武田的盈利能力，導致利潤指引略有下調。這突顯了在匯率波動的全球市場中運營的挑戰。</p>
<h2>ENTYVIO 增長修正</h2>
<p>由於競爭壓力和預期的轉化速度較慢，武田將 ENTYVIO 的增長預測下調至 6%（固定匯率）。這一修正表明競爭環境對產品表現的影響。</p>
<h2>減值損失</h2>
<p>由於更大的減值損失，報告的營業利潤下降了 27.7%，其中包括與停止細胞治療工作相關的 582 億日元費用。這些損失反映了製藥行業研發相關的風險。</p>
<h2>中國市場的挑戰</h2>
<p>由於發貨時機和成本控制措施，中國的白蛋白銷售略有下降。然而，武田預計下半年的增長將加速，表明這一關鍵市場可能會復甦。</p>
<h2>前瞻性指引</h2>
<p>武田對財年的指引反映了未來的挑戰和機遇。公司預計下半年的增長動態將改善，因為 VYVANSE 的影響減弱，上市產品的增長加速。儘管上半年的收入有所下降，武田對與信達生物的戰略合作伙伴關係仍持樂觀態度，預計將豐富其後期產品管線。</p>
<p>總之，武田製藥公司的財報電話會議突顯了複雜的情緒，平衡了有希望的產品管線進展和戰略合作伙伴關係與 VYVANSE 的仿製藥影響和匯率逆風等重大挑戰。公司的前瞻性指引表明對財年下半年的樂觀，預計增長動態將改善，創新將持續。</p>

4502

<p>武田藥品工業公司最近的財報電話會議透露了一個複雜的前景，展示了強勁的產品管線進展和戰略合作伙伴關係，但受到 VYVANSE 仿製藥影響和匯率逆風的重大損失的掩蓋。公司報告稱，推出產品增長了 5.3%，並且 rusfertide 和 oveporexton 的第三階段試驗結果積極。然而，VYVANSE 約 1000 億日元的收入損失和匯率影響導致利潤指引下調。儘管面臨挑戰，武田對下半財年的增長仍持樂觀態度，認為創新和戰略合作將推動增長</p>

<p>Takeda Pharmaceutical Company’s recent earnings call presented a mixed outlook, highlighting both promising developments and notable challenges. While the company showcased strong pipeline advancements and strategic partnerships, these positives were overshadowed by significant losses from VYVANSE’s generic impact and currency headwinds affecting profitability.</p>
<div class="lb-trans"><p>武田製藥公司最近的財報電話會議呈現出複雜的前景，既有令人鼓舞的發展，也面臨顯著的挑戰。儘管公司展示了強勁的產品管線進展和戰略合作伙伴關係，但這些積極因素被 VYVANSE 的仿製藥影響和影響盈利能力的匯率逆風所掩蓋。</p>
</div><h2>Growth in Launch Products</h2>
<div class="lb-trans"><h2>上市產品的增長</h2>
</div><p>Takeda reported a 5.3% growth in its launch products at constant exchange rates (CER), with expectations for even higher growth in the second half of the fiscal year. This growth is a positive indicator of the company’s ability to innovate and bring new products to market successfully.</p>
<div class="lb-trans"><p>武田報告稱，其上市產品在固定匯率下增長了 5.3%，預計在財年的下半年將實現更高的增長。這一增長是公司創新能力和成功推出新產品的積極指標。</p>
</div><h2>Pipeline Advancements</h2>
<div class="lb-trans"><h2>產品管線進展</h2>
</div><p>The company shared positive results from Phase III studies for rusfertide and oveporexton, with further Phase III data for zasocitinib in psoriasis expected by the end of the calendar year. These advancements signal Takeda’s commitment to expanding its therapeutic offerings and addressing unmet medical needs.</p>
<div class="lb-trans"><p>公司分享了 rusfertide 和 oveporexton 的第三階段研究的積極結果，並預計在日曆年末將公佈 zasocitinib 在銀屑病中的進一步第三階段數據。這些進展表明武田致力於擴大其治療產品，並滿足未被滿足的醫療需求。</p>
</div><h2>Innovent Biologics Partnership</h2>
<div class="lb-trans"><h2>與信達生物的合作</h2>
</div><p>Takeda has entered into a strategic partnership with Innovent Biologics to enhance its oncology pipeline. This collaboration aims to leverage differentiated assets like IBI363 and IBI343, potentially strengthening Takeda’s position in the competitive oncology market.</p>
<div class="lb-trans"><p>武田與信達生物建立了戰略合作伙伴關係，以增強其腫瘤學產品管線。此次合作旨在利用 IBI363 和 IBI343 等差異化資產，可能增強武田在競爭激烈的腫瘤學市場中的地位。</p>
</div><h2>Oveporexton’s Potential</h2>
<div class="lb-trans"><h2>Oveporexton 的潛力</h2>
</div><p>Oveporexton has shown significant improvement in symptoms of narcolepsy type 1 and is on track for a U.S. filing later this year. This development could provide a new treatment option for patients and contribute to Takeda’s growth in the neurology segment.</p>
<div class="lb-trans"><p>Oveporexton 在 1 型嗜睡症症狀方面顯示出顯著改善，並計劃在今年晚些時候提交美國申請。這一進展可能為患者提供新的治療選擇，並有助於武田在神經學領域的增長。</p>
</div><h2>Strong Cash Flow</h2>
<div class="lb-trans"><h2>強勁的現金流</h2>
</div><p>The company reported an adjusted free cash flow of JPY 525.4 billion, reflecting improvements in working capital. This robust cash flow underscores Takeda’s financial health and ability to invest in future growth opportunities.</p>
<div class="lb-trans"><p>公司報告調整後的自由現金流為 5254 億日元，反映了營運資本的改善。這一強勁的現金流突顯了武田的財務健康狀況及其投資未來增長機會的能力。</p>
</div><h2>VYVANSE Revenue Impact</h2>
<div class="lb-trans"><h2>VYVANSE 收入影響</h2>
</div><p>The loss of exclusivity for VYVANSE resulted in a significant revenue loss of approximately JPY 100 billion, impacting the first half results. This loss highlights the challenges pharmaceutical companies face when patents expire.</p>
<div class="lb-trans"><p>VYVANSE 失去獨佔權導致約 1000 億日元的顯著收入損失，影響了上半年的業績。這一損失突顯了製藥公司在專利到期時面臨的挑戰。</p>
</div><h2>Currency Headwinds</h2>
<div class="lb-trans"><h2>匯率逆風</h2>
</div><p>Transactional foreign exchange impacts, particularly from the euro, have affected Takeda’s profitability, leading to a slight reduction in profit guidance. This underscores the challenges of operating in a global market with fluctuating currency values.</p>
<div class="lb-trans"><p>外匯交易影響，特別是來自歐元的影響，已影響武田的盈利能力，導致利潤指引略有下調。這突顯了在匯率波動的全球市場中運營的挑戰。</p>
</div><h2>ENTYVIO Growth Revision</h2>
<div class="lb-trans"><h2>ENTYVIO 增長修正</h2>
</div><p>Takeda revised down the growth forecast for ENTYVIO to 6% at CER due to competitive pressures and slower-than-expected pen conversion. This revision indicates the competitive landscape’s impact on product performance.</p>
<div class="lb-trans"><p>由於競爭壓力和預期的轉化速度較慢，武田將 ENTYVIO 的增長預測下調至 6%（固定匯率）。這一修正表明競爭環境對產品表現的影響。</p>
</div><h2>Impairment Losses</h2>
<div class="lb-trans"><h2>減值損失</h2>
</div><p>Reported operating profit decreased by 27.7% due to larger impairment losses, including a JPY 58.2 billion expense related to discontinuing cell therapy efforts. These losses reflect the risks associated with research and development in the pharmaceutical industry.</p>
<div class="lb-trans"><p>由於更大的減值損失，報告的營業利潤下降了 27.7%，其中包括與停止細胞治療工作相關的 582 億日元費用。這些損失反映了製藥行業研發相關的風險。</p>
</div><h2>Challenges in China</h2>
<div class="lb-trans"><h2>中國市場的挑戰</h2>
</div><p>Albumin sales in China declined slightly due to the timing of shipments and cost containment measures. However, Takeda expects growth to accelerate in the second half, indicating potential recovery in this key market.</p>
<div class="lb-trans"><p>由於發貨時機和成本控制措施，中國的白蛋白銷售略有下降。然而，武田預計下半年的增長將加速，表明這一關鍵市場可能會復甦。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指引</h2>
</div><p>Takeda’s guidance for the fiscal year reflects the challenges and opportunities ahead. The company expects better growth dynamics in the second half as the impact of VYVANSE moderates and launch product growth accelerates. Despite a revenue decrease in the first half, Takeda remains optimistic about its strategic partnership with Innovent Biologics, which is anticipated to enrich its late-stage pipeline.</p>
<div class="lb-trans"><p>武田對財年的指引反映了未來的挑戰和機遇。公司預計下半年的增長動態將改善，因為 VYVANSE 的影響減弱，上市產品的增長加速。儘管上半年的收入有所下降，武田對與信達生物的戰略合作伙伴關係仍持樂觀態度，預計將豐富其後期產品管線。</p>
</div><p>In summary, Takeda Pharmaceutical Company’s earnings call highlighted a mixed sentiment, balancing promising pipeline advancements and strategic partnerships against significant challenges like VYVANSE’s generic impact and currency headwinds. The company’s forward-looking guidance suggests optimism for the second half of the fiscal year, with expectations for improved growth dynamics and continued innovation.</p>
<div class="lb-trans"><p>總之，武田製藥公司的財報電話會議突顯了複雜的情緒，平衡了有希望的產品管線進展和戰略合作伙伴關係與 VYVANSE 的仿製藥影響和匯率逆風等重大挑戰。公司的前瞻性指引表明對財年下半年的樂觀，預計增長動態將改善，創新將持續。</p>
</div>

武田製藥的財報電話會議：在面臨挑戰的情況下展現出喜憂參半的前景