Takeda’s 3Q Earnings Strong, Upgrading to Narrow Moat on Change of Coverage
Takeda’s earnings were strong this quarter, driven by strong margin expansion and continued growth of its key drugs. Its R&D progress was mixed but fairly inconsequential. At the same time, we are transferring coverage to a new analyst, and have decided to upgrade its moat rating to narrow in consideration of Shire’s assets and global footprint. Finally, we are maintaining our fair value estimate of JPY 5,100 per share. While we raised our WACC due to the more global nature of Takeda’s busin...Takeda Pharmaceutical is a public company incorporated in Japan. Co. and its subsidiaries is a global pharmaceutical group and is engaged in the research, development, manufacturing and marketing of pharmaceutical products, over-the-counter (“OTC”) medicines and quasi-drug consumer products, and other healthcare products. Co.'s principal pharmaceutical products include medicines in the following therapeutic areas: gastroenterology, oncology and neuroscience.
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