Asia Healthcare Analyst, Pathology Associates Limited

Dion Stéfan Büchner M.D., FCAP

Asia Healthcare Analyst

Pathology Associates Limited

Equity Bottom-Up

<p>While sales of Takeda's long listed products (~ 20% of sales in FY15) continue to decline, expectations remain bleak for its late stage pipeline.</p><p>We see Trintellix as one of the key building blocks (after Ninlaro and Entyvio) that, despite a modest contribution to top-line sales, is expected to provide much required stability to Takeda’s topline over the next five years.In the absence of label expansion to treat cognitive dysfunction, we project Trintellix to generate ~US$700m at peak for the…</p>

While sales of Takeda's long listed products (~ 20% of sales in FY15) continue to decline, expectations remain bleak for its late stage pipeline.We see Trintellix as one of the key building blocks (after Ninlaro and Entyvio) that, despite a modest contribution to top-line sales, is expected to provide much required stability to Takeda’s topline over the next five years.In the absence of label expansion to treat cognitive dysfunction, we project Trintellix to generate ~US$700m at peak for the…

Trintellix (Vortioxetine) – Selective Serotonin Reuptake Inhibitor (SSRI) And Partial Agonist

Takeda Pharmaceutical

Trintellix (Vortioxetine) – Selective Serotonin Reuptake Inhibitor (SSRI) And Partial Agonist