The Japanese pharmaceutical company Takeda posted a net profit of 144.1 billion yen (863 million euros) for its fiscal year as a whole, which ended in March, which is equivalent to a decrease of 54.6% compared to the previous year. as reported by the company, which has announced a restructuring plan that will include workforce adjustments.

Turnover for the year as a whole was 4.26 trillion yen (25.51 billion euros), 5.9% more.

Looking ahead to the current financial year, Takeda expects to achieve a net profit of 58 billion yen (347 million euros), as well as a turnover of 4.35 trillion yen (26.05 billion euros).

“In an otherwise challenging year, our core financial results reinforce my confidence in our resilience and our ability to navigate the near-term impact of generic competition to return to sustainable revenue and profit growth from fiscal year 2025,” said Takeda President and CEO Christophe Weber.

On the other hand, Takeda announced this Thursday that its board of directors has approved a multi-year program to improve organizational agility, spending efficiency and better use the company’s capabilities in data, digital and technology (DD

The program will begin implementation in the current fiscal year and includes initiatives to optimize the workforce, simplify some divisional structures, and rigorously prioritize its R&D portfolio, while investing in DD

As a result of the planned initiatives, Takeda estimates that it will incur exceptional restructuring expenses of 140 billion yen (838 million euros) in the current fiscal year, which are already reflected in the forecast presented this Thursday for fiscal year 2024, while that the company anticipates lower restructuring expenses in fiscal years 2025 and 2026.

Takeda estimates that the efficiencies and savings resulting from the multi-year program, offset by investments in its project portfolio and DD