– Significantly Enhances Takeda’s Global Oncology Portfolio –
– Accretive to FY2018 Underlying Core Earnings –
– Reinforces Takeda’s Commitment to Developing Medicines for Patients Living with Cancer –
Strategic Highlights
- Highly strategic deal which transforms global oncology portfolio and pipeline by expanding into solid tumors and reinforcing existing strength in hematology
- Accretive to Takeda’s Underlying Core Earnings by FY2018 and generates immediate and long-term revenue growth
- Attractive value drivers include two very innovative precision medicines, Iclusig®(ponatinib) and brigatinib, an exciting early stage pipeline and cost synergies
- Iclusig is a globally commercialized product with continued strong sales growth potential
- Brigatinib approval in the U.S. is expected in the first half of 2017, with peak sales potential over $1 billion and the potential to be the best-in-class ALK inhibitor
- Takeda will leverage ARIAD’s research and development capabilities and platform
- Takeda retains financial flexibility with no impact on dividend policy
CAMBRIDGE, MA, USA and OSAKA, Japan I January 9, 2017 I Takeda Pharmaceutical Company Limited (TSE: 4502) (“Takeda”) and ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) (“ARIAD”) today announced that they have entered into a definitive agreement under which Takeda will acquire all of the outstanding shares in ARIAD for $24.00 per share in cash, or an enterprise value of approximately $5.2 billion. The transaction has been approved unanimously by the boards of directors of both companies, and is expected to close by the end of February 2017, subject to required regulatory approvals and other customary closing conditions. Sarissa Capital, the holder of 6.6% of ARIAD’s common shares, as well as each of the members of ARIAD’s Board of Directors have agreed to tender their shares to Takeda pursuant to the offer.
“The acquisition of ARIAD is a unique opportunity that will enable us to positively impact the lives of more patients worldwide, advance our strategic priorities and generate attractive returns for our shareholders,” said Christophe Weber, president and chief executive officer of Takeda. “This is a very exciting time for Takeda as we will broaden our hematology portfolio and transform our global solid tumor franchise through the addition of two innovative targeted therapies. Opportunities to acquire such high-quality, complementary targeted therapies do not come often, and we are very excited about the potential for this transaction to benefit patients, our shareholders and other stakeholders.”
Paris Panayiotopoulos, president and chief executive officer of ARIAD, said, “We are very pleased to combine with Takeda, which will allow us to not only accelerate our mission to discover, develop and deliver precision therapies to patients with rare cancers, but also deliver immediate and meaningful value to our shareholders through a substantial cash premium. This exciting transaction is a testament to the hard work and dedication of ARIAD’s talented team of employees. We have tremendous respect for Takeda, and I believe our shared commitment to innovation and research-driven cultures will provide for a smooth transition.”
“This transaction is a great outcome for shareholders of ARIAD and Takeda. Both ARIAD and Takeda are passionate about helping cancer patients, and I believe the talent and resources of Takeda coupled with ARIAD’s pipeline and people will accelerate the development of cancer treatments. I would like to extend my deepest gratitude to the management team and everyone at ARIAD for their unrelenting dedication,” said Alexander J. Denner, Ph.D., Chairman of the Board of ARIAD.
Highly strategic deal which transforms global oncology portfolio and pipeline by expanding into solid tumors and reinforcing existing strength in hematology
The acquisition of ARIAD brings two innovative targeted therapies that will expand and enhance Takeda’s existing oncology portfolio. Brigatinib, an investigational drug product, has the potential to add a differentiated, global therapy in a genetically-defined subpopulation of non-small cell lung cancer (NSCLC). The addition of Iclusig will broaden Takeda’s strong hematology franchise to include chronic myeloid leukemia (CML) and a subset of acute lymphoblastic leukemia (ALL). Together, these two innovative targeted therapies will position Takeda for sustainable long-term growth in oncology.
Takeda’s track record of successful oncology product launches [ADCETRIS® (Brentuximab Vedotin), NINLAROTM (ixazomib) and VELCADE® (bortezomib)] means it has the experience and expertise required to deliver the successful launch of brigatinib and to ensure that it achieves global reach and share of voice thereafter.
Accretive to Takeda’s Underlying Core Earnings by FY2018 and generates immediate and long-term revenue growth
The transaction is a compelling opportunity for Takeda shareholders. It will provide immediate revenue, bring considerable long-term revenue potential and deliver synergy savings.
ARIAD provided calendar year 2016 revenue guidance for Iclusig of $170-180 million, and Takeda expects significant long-term revenue potential from the two lead assets.
Takeda projects the acquisition of ARIAD to be accretive to Underlying Core Earnings by FY2018 and broadly neutral in FY2017. Strong revenue growth and synergy savings will offset increased sales and marketing costs for the brigatinib launch.
Attractive value drivers include two very innovative medicines, Iclusig and brigatinib, an exciting early stage pipeline and cost synergies
Iclusig, a commercialized therapy with continued strong sales growth potential, delivers immediate value. Brigatinib, an investigational drug product with peak annual sales potential of over $1 billion, will generate significant long-term value for Takeda. U.S. approval is expected in the first half of 2017 with global filing thereafter. Beyond Iclusig and brigatinib, ARIAD’s commitment and expertise in targeted kinase inhibition linked to strong translational science generated further pipeline opportunities which provide additional long-term upside potential.
Takeda will leverage ARIAD’s R&D capabilities and platform, and largely absorb its R&D costs within Takeda’s existing R&D budget. G&A cost synergies will be fully captured by FY2018.
Takeda retains financial flexibility with no impact on dividend policy
The transaction will be funded by up to $4.0 billion of new debt and the remainder from existing cash. FY2017 Net Debt/EBITDA is estimated at approximately 2.6x, which is expected to remain investment grade. The transaction has no impact on Takeda’s dividend policy.
Transaction terms
The acquisition is structured as an all cash tender offer by a subsidiary of Takeda for all of the outstanding shares of ARIAD common stock, followed by a merger in which remaining shares of ARIAD would be converted into the right to receive the same $24.00 cash per share price paid in the tender offer and ARIAD will become an indirect wholly owned subsidiary of Takeda.
The transaction is subject to the tender of a majority of the outstanding shares of ARIAD common stock as well as other customary closing conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the antitrust laws of applicable foreign jurisdictions. The transaction is expected to close by the end of February 2017.
Takeda Pharmaceuticals U.S.A, a wholly owned subsidiary of Takeda, has established Kiku Merger Co., Inc. to effect the transaction.
| (1) |
Tender offeror |
Kiku Merger Co., Inc. |
| (2) |
Target company |
ARIAD Pharmaceuticals, Inc. |
| (3) |
Class of shares to be acquired |
Common stock |
| (4) |
Tender offer price |
$24.00 per share |
| (5) |
Acquisition amount (Aggregate tender offer price) |
Approximately $5.4 billion (estimate)
* The amount is an estimated amount calculated by multiplying the number of the target company’s shares (fully diluted basis) by the tender offer price per share. It does not include advisory fees. |
| (6) |
Payment |
Cash
* Funded by up to $4.0 billion of new debt and the remainder from existing cash. |
| (7) |
Period of tender offer |
From January, 2017 to February, 2017
** The initial period of the tender offer will commence within 10 business days following execution of the merger agreement with ARIAD [January 8, 2017 (U.S.)], and will close 20 business days after commencement. If the situation arises whereby the conditions of the tender offer are not satisfied, the period of the tender offer will be extended, but the extension period will not exceed May 2017 (or August 2017 if antitrust clearance not received). |
| (8) |
Minimum number of shares to be purchased |
Consummation of the tender offer will occur once the majority of shares outstanding of the company have been tendered and other customary closing conditions have been satisfied. |
| (9) |
Financial advisor to Takeda |
Evercore Partners |
| (10) |
Legal counsel to Takeda |
Cleary Gottlieb Steen & Hamilton LLP |
| (11) |
Financial advisor to ARIAD |
J.P. Morgan Securities LLC, Goldman, Sachs & Co., Lazard |
| (12) |
Legal counsel to ARIAD |
Paul, Weiss, Rifkind, Wharton & Garrison LLP |
Overview of ARIAD
| (1) |
Company name |
ARIAD Pharmaceuticals, Inc. |
| (2) |
Headquarters |
125 Binney Street, Cambridge, Massachusetts 02142, USA |
| (3) |
Representative |
Paris Panayiotopoulos, President and Chief Executive Officer |
| (4) |
Business description |
ARIAD Pharmaceuticals, Inc., headquartered in Cambridge, Massachusetts is focused on discovering, developing and commercializing precision therapies for patients with rare cancers. ARIAD is working on new medicines to advance the treatment of rare forms of chronic and acute leukemia, lung cancer and other rare cancers. ARIAD utilizes computational and structural approaches to design small-molecule drugs that overcome resistance to existing cancer medicines. |
| (5) |
Capital |
US$1,339 million (Additional paid-in capital as of December 31, 2015) |
| (6) |
Date of establishment |
April, 1991 |
| (7) |
Major shareholders and percentage of shares held* |
Wellington Management Group LLP |
8.8% |
| FMR LLC |
7.8% |
| Vanguard Group Inc. |
6.8% |
| Others |
| (8) |
Relationships between Takeda |
Capital relationship |
Not applicable |
| Personnel relationship |
Not applicable |
| Transactional relationship |
Not applicable |
| (9) |
Operating result and financial conditions for the last three years (consolidated) |
| Accounting period |
Fiscal year ended December 31, 2013 |
Fiscal year ended December 31, 2014 |
Fiscal year ended December 31, 2015 |
Net assets
(US$ in thousands) |
185,517 |
80,801 |
(103,141) |
Total assets
(US$ in thousands) |
370,894 |
603,116 |
546,692 |
Net assets per share
(US$) |
1.01 |
0.43 |
(0.55) |
Revenue
(US$ in thousands) |
45,561 |
105,412 |
118,804 |
Operating profit
(US$ in thousands) |
(273,566) |
(160,195) |
(217,276) |
Net loss
(US$ in thousands) |
(274,158) |
(162,602) |
(231,156) |
Net loss per share
(US$) |
(1.49) |
(0.87) |
(1.23) |
* As reported in the 13F filings. Percentage of shares is calculated by dividing the number of shareholdings (as of the end of September 2016) by the number of total shares outstanding of the target company.
Change in ownership before and after acquisition
| (1) |
Number of shares already acquired |
0 shares
Percentage of voting rights: 0% |
| (2) |
Number of shares to be acquired |
194,389,661 shares*
Percentage of voting rights: 100% (planned)
* Total shares outstanding |
Schedule
| (1) |
Board meeting resolution |
January 6, 2017 |
| (2) |
Signing date |
January 8, 2017 |
| (3) |
Commencement date and settlement date of the tender offer |
From January, 2017 to February, 2017
**The initial period of the tender offer will commence within 10 business days following execution of the merger agreement with ARIAD [January 8, 2017 (U.S.)], and will close 20 business days after commencement. If the conditions of the tender offer are not satisfied, the period of the tender offer will be extended, but the extension period will not exceed May 2017 (or August 2017 if antitrust clearance not received). |
| (4) |
Completion of acquisition |
By the end of February, 2017 (planned)* |
* Fulfillment of the terms and conditions of the U.S. Antitrust Law and the satisfaction of certain other customary conditions are required to complete the acquisition.
Outlook
FY2016
At this stage we expect minimal impact on Underlying Revenue and Underlying Core Earnings. We do expect to incur transition and integration expenses, however, these expenses are not material to the current year result. We will incorporate the financial impact in our FY2016 consolidated earnings forecast and announce at the third quarter earnings conference in February 2017.
FY2017 and beyond
It is expected that the acquisition of ARIAD will be accretive to Takeda’s Underlying Core Earnings by FY2018 and broadly neutral in FY2017. Strong revenue growth and synergy savings will offset increased sales and marketing costs for the brigatinib launch. Takeda’s financial guidance, including EPS, for FY2017 will be announced when Takeda reports earnings for FY2016 in May 2017.
Conference Call Webcast Information
Takeda will host a media/investors conference call at 7:30 p.m. EST January 9, 2017 (9:30 a.m. JST January 10, 2017) to discuss the transaction.
You can listen to the conference call at the following link:
http://www.Takeda.com/investor-information/results/
A replay of the conference call will be available within 24 hours.
In light of this announcement, ARIAD will not be presenting today at the 35th Annual J.P. Morgan Healthcare Conference.
About Takeda Pharmaceutical Company
Takeda Pharmaceutical Company Limited is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R&D efforts on oncology, gastroenterology and central nervous system therapeutic areas plus vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. New innovative products, especially in oncology and gastroenterology, as well as our presence in Emerging Markets, fuel the growth of Takeda. More than 30,000 Takeda employees are committed to improving quality of life for patients, working with our partners in health care in more than 70 countries. Additional information about Takeda is available through its corporate website, www.Takeda.com.
SOURCE: Takeda Pharmaceutical Co
Post Views: 29
– Significantly Enhances Takeda’s Global Oncology Portfolio –
– Accretive to FY2018 Underlying Core Earnings –
– Reinforces Takeda’s Commitment to Developing Medicines for Patients Living with Cancer –
Strategic Highlights
- Highly strategic deal which transforms global oncology portfolio and pipeline by expanding into solid tumors and reinforcing existing strength in hematology
- Accretive to Takeda’s Underlying Core Earnings by FY2018 and generates immediate and long-term revenue growth
- Attractive value drivers include two very innovative precision medicines, Iclusig®(ponatinib) and brigatinib, an exciting early stage pipeline and cost synergies
- Iclusig is a globally commercialized product with continued strong sales growth potential
- Brigatinib approval in the U.S. is expected in the first half of 2017, with peak sales potential over $1 billion and the potential to be the best-in-class ALK inhibitor
- Takeda will leverage ARIAD’s research and development capabilities and platform
- Takeda retains financial flexibility with no impact on dividend policy
CAMBRIDGE, MA, USA and OSAKA, Japan I January 9, 2017 I Takeda Pharmaceutical Company Limited (TSE: 4502) (“Takeda”) and ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) (“ARIAD”) today announced that they have entered into a definitive agreement under which Takeda will acquire all of the outstanding shares in ARIAD for $24.00 per share in cash, or an enterprise value of approximately $5.2 billion. The transaction has been approved unanimously by the boards of directors of both companies, and is expected to close by the end of February 2017, subject to required regulatory approvals and other customary closing conditions. Sarissa Capital, the holder of 6.6% of ARIAD’s common shares, as well as each of the members of ARIAD’s Board of Directors have agreed to tender their shares to Takeda pursuant to the offer.
“The acquisition of ARIAD is a unique opportunity that will enable us to positively impact the lives of more patients worldwide, advance our strategic priorities and generate attractive returns for our shareholders,” said Christophe Weber, president and chief executive officer of Takeda. “This is a very exciting time for Takeda as we will broaden our hematology portfolio and transform our global solid tumor franchise through the addition of two innovative targeted therapies. Opportunities to acquire such high-quality, complementary targeted therapies do not come often, and we are very excited about the potential for this transaction to benefit patients, our shareholders and other stakeholders.”
Paris Panayiotopoulos, president and chief executive officer of ARIAD, said, “We are very pleased to combine with Takeda, which will allow us to not only accelerate our mission to discover, develop and deliver precision therapies to patients with rare cancers, but also deliver immediate and meaningful value to our shareholders through a substantial cash premium. This exciting transaction is a testament to the hard work and dedication of ARIAD’s talented team of employees. We have tremendous respect for Takeda, and I believe our shared commitment to innovation and research-driven cultures will provide for a smooth transition.”
“This transaction is a great outcome for shareholders of ARIAD and Takeda. Both ARIAD and Takeda are passionate about helping cancer patients, and I believe the talent and resources of Takeda coupled with ARIAD’s pipeline and people will accelerate the development of cancer treatments. I would like to extend my deepest gratitude to the management team and everyone at ARIAD for their unrelenting dedication,” said Alexander J. Denner, Ph.D., Chairman of the Board of ARIAD.
Highly strategic deal which transforms global oncology portfolio and pipeline by expanding into solid tumors and reinforcing existing strength in hematology
The acquisition of ARIAD brings two innovative targeted therapies that will expand and enhance Takeda’s existing oncology portfolio. Brigatinib, an investigational drug product, has the potential to add a differentiated, global therapy in a genetically-defined subpopulation of non-small cell lung cancer (NSCLC). The addition of Iclusig will broaden Takeda’s strong hematology franchise to include chronic myeloid leukemia (CML) and a subset of acute lymphoblastic leukemia (ALL). Together, these two innovative targeted therapies will position Takeda for sustainable long-term growth in oncology.
Takeda’s track record of successful oncology product launches [ADCETRIS® (Brentuximab Vedotin), NINLAROTM (ixazomib) and VELCADE® (bortezomib)] means it has the experience and expertise required to deliver the successful launch of brigatinib and to ensure that it achieves global reach and share of voice thereafter.
Accretive to Takeda’s Underlying Core Earnings by FY2018 and generates immediate and long-term revenue growth
The transaction is a compelling opportunity for Takeda shareholders. It will provide immediate revenue, bring considerable long-term revenue potential and deliver synergy savings.
ARIAD provided calendar year 2016 revenue guidance for Iclusig of $170-180 million, and Takeda expects significant long-term revenue potential from the two lead assets.
Takeda projects the acquisition of ARIAD to be accretive to Underlying Core Earnings by FY2018 and broadly neutral in FY2017. Strong revenue growth and synergy savings will offset increased sales and marketing costs for the brigatinib launch.
Attractive value drivers include two very innovative medicines, Iclusig and brigatinib, an exciting early stage pipeline and cost synergies
Iclusig, a commercialized therapy with continued strong sales growth potential, delivers immediate value. Brigatinib, an investigational drug product with peak annual sales potential of over $1 billion, will generate significant long-term value for Takeda. U.S. approval is expected in the first half of 2017 with global filing thereafter. Beyond Iclusig and brigatinib, ARIAD’s commitment and expertise in targeted kinase inhibition linked to strong translational science generated further pipeline opportunities which provide additional long-term upside potential.
Takeda will leverage ARIAD’s R&D capabilities and platform, and largely absorb its R&D costs within Takeda’s existing R&D budget. G&A cost synergies will be fully captured by FY2018.
Takeda retains financial flexibility with no impact on dividend policy
The transaction will be funded by up to $4.0 billion of new debt and the remainder from existing cash. FY2017 Net Debt/EBITDA is estimated at approximately 2.6x, which is expected to remain investment grade. The transaction has no impact on Takeda’s dividend policy.
Transaction terms
The acquisition is structured as an all cash tender offer by a subsidiary of Takeda for all of the outstanding shares of ARIAD common stock, followed by a merger in which remaining shares of ARIAD would be converted into the right to receive the same $24.00 cash per share price paid in the tender offer and ARIAD will become an indirect wholly owned subsidiary of Takeda.
The transaction is subject to the tender of a majority of the outstanding shares of ARIAD common stock as well as other customary closing conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the antitrust laws of applicable foreign jurisdictions. The transaction is expected to close by the end of February 2017.
Takeda Pharmaceuticals U.S.A, a wholly owned subsidiary of Takeda, has established Kiku Merger Co., Inc. to effect the transaction.
| (1) |
Tender offeror |
Kiku Merger Co., Inc. |
| (2) |
Target company |
ARIAD Pharmaceuticals, Inc. |
| (3) |
Class of shares to be acquired |
Common stock |
| (4) |
Tender offer price |
$24.00 per share |
| (5) |
Acquisition amount (Aggregate tender offer price) |
Approximately $5.4 billion (estimate)
* The amount is an estimated amount calculated by multiplying the number of the target company’s shares (fully diluted basis) by the tender offer price per share. It does not include advisory fees. |
| (6) |
Payment |
Cash
* Funded by up to $4.0 billion of new debt and the remainder from existing cash. |
| (7) |
Period of tender offer |
From January, 2017 to February, 2017
** The initial period of the tender offer will commence within 10 business days following execution of the merger agreement with ARIAD [January 8, 2017 (U.S.)], and will close 20 business days after commencement. If the situation arises whereby the conditions of the tender offer are not satisfied, the period of the tender offer will be extended, but the extension period will not exceed May 2017 (or August 2017 if antitrust clearance not received). |
| (8) |
Minimum number of shares to be purchased |
Consummation of the tender offer will occur once the majority of shares outstanding of the company have been tendered and other customary closing conditions have been satisfied. |
| (9) |
Financial advisor to Takeda |
Evercore Partners |
| (10) |
Legal counsel to Takeda |
Cleary Gottlieb Steen & Hamilton LLP |
| (11) |
Financial advisor to ARIAD |
J.P. Morgan Securities LLC, Goldman, Sachs & Co., Lazard |
| (12) |
Legal counsel to ARIAD |
Paul, Weiss, Rifkind, Wharton & Garrison LLP |
Overview of ARIAD
| (1) |
Company name |
ARIAD Pharmaceuticals, Inc. |
| (2) |
Headquarters |
125 Binney Street, Cambridge, Massachusetts 02142, USA |
| (3) |
Representative |
Paris Panayiotopoulos, President and Chief Executive Officer |
| (4) |
Business description |
ARIAD Pharmaceuticals, Inc., headquartered in Cambridge, Massachusetts is focused on discovering, developing and commercializing precision therapies for patients with rare cancers. ARIAD is working on new medicines to advance the treatment of rare forms of chronic and acute leukemia, lung cancer and other rare cancers. ARIAD utilizes computational and structural approaches to design small-molecule drugs that overcome resistance to existing cancer medicines. |
| (5) |
Capital |
US$1,339 million (Additional paid-in capital as of December 31, 2015) |
| (6) |
Date of establishment |
April, 1991 |
| (7) |
Major shareholders and percentage of shares held* |
Wellington Management Group LLP |
8.8% |
| FMR LLC |
7.8% |
| Vanguard Group Inc. |
6.8% |
| Others |
| (8) |
Relationships between Takeda |
Capital relationship |
Not applicable |
| Personnel relationship |
Not applicable |
| Transactional relationship |
Not applicable |
| (9) |
Operating result and financial conditions for the last three years (consolidated) |
| Accounting period |
Fiscal year ended December 31, 2013 |
Fiscal year ended December 31, 2014 |
Fiscal year ended December 31, 2015 |
Net assets
(US$ in thousands) |
185,517 |
80,801 |
(103,141) |
Total assets
(US$ in thousands) |
370,894 |
603,116 |
546,692 |
Net assets per share
(US$) |
1.01 |
0.43 |
(0.55) |
Revenue
(US$ in thousands) |
45,561 |
105,412 |
118,804 |
Operating profit
(US$ in thousands) |
(273,566) |
(160,195) |
(217,276) |
Net loss
(US$ in thousands) |
(274,158) |
(162,602) |
(231,156) |
Net loss per share
(US$) |
(1.49) |
(0.87) |
(1.23) |
* As reported in the 13F filings. Percentage of shares is calculated by dividing the number of shareholdings (as of the end of September 2016) by the number of total shares outstanding of the target company.
Change in ownership before and after acquisition
| (1) |
Number of shares already acquired |
0 shares
Percentage of voting rights: 0% |
| (2) |
Number of shares to be acquired |
194,389,661 shares*
Percentage of voting rights: 100% (planned)
* Total shares outstanding |
Schedule
| (1) |
Board meeting resolution |
January 6, 2017 |
| (2) |
Signing date |
January 8, 2017 |
| (3) |
Commencement date and settlement date of the tender offer |
From January, 2017 to February, 2017
**The initial period of the tender offer will commence within 10 business days following execution of the merger agreement with ARIAD [January 8, 2017 (U.S.)], and will close 20 business days after commencement. If the conditions of the tender offer are not satisfied, the period of the tender offer will be extended, but the extension period will not exceed May 2017 (or August 2017 if antitrust clearance not received). |
| (4) |
Completion of acquisition |
By the end of February, 2017 (planned)* |
* Fulfillment of the terms and conditions of the U.S. Antitrust Law and the satisfaction of certain other customary conditions are required to complete the acquisition.
Outlook
FY2016
At this stage we expect minimal impact on Underlying Revenue and Underlying Core Earnings. We do expect to incur transition and integration expenses, however, these expenses are not material to the current year result. We will incorporate the financial impact in our FY2016 consolidated earnings forecast and announce at the third quarter earnings conference in February 2017.
FY2017 and beyond
It is expected that the acquisition of ARIAD will be accretive to Takeda’s Underlying Core Earnings by FY2018 and broadly neutral in FY2017. Strong revenue growth and synergy savings will offset increased sales and marketing costs for the brigatinib launch. Takeda’s financial guidance, including EPS, for FY2017 will be announced when Takeda reports earnings for FY2016 in May 2017.
Conference Call Webcast Information
Takeda will host a media/investors conference call at 7:30 p.m. EST January 9, 2017 (9:30 a.m. JST January 10, 2017) to discuss the transaction.
You can listen to the conference call at the following link:
http://www.Takeda.com/investor-information/results/
A replay of the conference call will be available within 24 hours.
In light of this announcement, ARIAD will not be presenting today at the 35th Annual J.P. Morgan Healthcare Conference.
About Takeda Pharmaceutical Company
Takeda Pharmaceutical Company Limited is a global, research and development-driven pharmaceutical company committed to bringing better health and a brighter future to patients by translating science into life-changing medicines. Takeda focuses its R&D efforts on oncology, gastroenterology and central nervous system therapeutic areas plus vaccines. Takeda conducts R&D both internally and with partners to stay at the leading edge of innovation. New innovative products, especially in oncology and gastroenterology, as well as our presence in Emerging Markets, fuel the growth of Takeda. More than 30,000 Takeda employees are committed to improving quality of life for patients, working with our partners in health care in more than 70 countries. Additional information about Takeda is available through its corporate website, www.Takeda.com.
SOURCE: Takeda Pharmaceutical Co
Post Views: 29
