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.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER