Takeda Pharmaceutical Company Limited (NYSE:TAK) Q2 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 05:30 am ET


Takeda Pharmaceutical Company Limited (NYSE:TAK) Q2 2020 Earnings Conference Call - Final Transcript


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Christophe Weber

to demonstrate and to show that performance during Q1. But we are continuing to be an even better company. One example is that we are introducing an employee stock purchase plan first in the United States, Singapore and Switzerland. There is one existing in Japan and that will be something that we will expand in as many country in the world as possible.

On Slide 5, we are continuing to focus on three areas regarding the coronavirus situation; keeping our employees safe, and we have been extremely successful at that; maintaining our business continuing, and we didn't see any supply disruption because of the coronavirus, which is great. Our clinical trial are resuming as well for those who were on a slowdown path. So, I think we are starting to see a return to normal in many areas. And we are committed to develop potential therapies with our hyperimmune globulin development first, but also looking at potential product in our pipeline, which could have some efficacy against coronavirus.

I will finish the introduction with the next slide to update you on the Hikari situation. First, I will insist on the fact that quality has always been a priority for Takeda. So we have a very strong expertise and background in quality. And so, we know how to resolve the situation. We have a very clear path to resolve the -- and to remediate the situation in Hikari. So, we have submitted our reply to the FDA and we are working very intensively to remediate the situation as quickly as possible.

At the same time, we really are aiming to limit, reduce the potential impact, the potential shortage for patients. We were able to resume -- to restart production of leuprorelin for the Japanese market and also other countries on July 20. So that's very important because it will very much limit the potential shortage and we'll be able to resupply the product in September. At the same times, we gave some guidance to the doctors in Japan to manage as well as possible their patients. So, I apologize to the doctor, to the patient about the inconvenience, but I think we are doing really our best to limit that impact.

We don't believe that there will be a global shortage of leuprorelin. There might be periodic shortage in Japan, potentially in the US, but we don't believe that it will have financially it won't have a material impact on the company as a whole. So, I think that it's more good news in term of managing the situation and capability of resupplying leuprorelin.

Thank you. And I will pass now to Andy for the R&D presentation.

Andrew S. Plump

Terrific. Thank you very much, Christophe, and good evening, everybody. If we could please advance to the next slide.

As many of you know, we had a chance at the end of 2019 during our R&D Day to roll out our core R&D strategy and our pipeline. It's a very diverse pipeline. It's one