Takeda takes $770M writedown on failed stem cell therapy and withdrawn cancer drug

Take­da record­ed $2.4 bil­lion (369.7 bil­lion yen) in amor­ti­za­tion and im­pair­ment loss­es in its fi­nan­cial re­port for the first half of fis­cal year 2023, a 35.1% in­crease from the same time last year fol­low­ing a se­ries of failed tri­als.

The com­pa­ny at­trib­uted the in­crease to the de­pre­ci­a­tion of the Japan­ese yen as well as $770.5 mil­lion (74 bil­lion yen) in im­pair­ment loss­es due to Alofisel, which flunked a Phase III tri­al, and an­oth­er $189.6 mil­lion (28.5 bil­lion yen) loss af­ter Take­da with­drew its can­cer drug Exkiv­i­ty from the mar­ket glob­al­ly.

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