On Thursday, Japan’s drugmaker Takeda Pharmaceutical Company Limited (NYSE:TAK) announced a restructuring after the company reported a fiscal year 2023 net profit of 144 billion yen (around $954 million), down 54.6% Y/Y. Core net profit fell 12.6% (down ...

The Japanese drugmaker reported a fourth-quarter loss and forecast a drop in annual net profit due partly to restructuring expenses.

Takeda will take a one-time $900m (Y140bn) charge for the restructuring changes in FY 2024, with lower related expenses expected in FY 2025 and FY 2026. The company said the plan will help boost its core operating profit margin to a target of approximately 30%, as per a 9 May press release.

Takeda said that while it will offer more specifics related to timing and actions for the restructuring at a later date, it expects to incur a one-time expense of $900 million for fiscal year 2024.

Japan's Takeda Pharmaceutical announced a restructuring on Thursday after annual profit slid by more than half following the loss of patent protection of major sellers.