4502 武田薬 2019-11-14 20:00:00
R&D説明会(2019年11月14日NY開催)プレゼンテーション資料(3/5) [pdf]

LONG-TERM VALUE FOR
PATIENTS, SOCIETY AND
            INVESTORS




                    15
SCIENCE
DRIVEN
COMPANY
WITH A
FOCUSED
MIND
           BRINGING
          INNOVATION
          TO PATIENTS
                                       Positioned for Sustainable Revenue Growth
                                                                                                                                             Potential Wave 2 pipeline not included


                                         WAVE 1                              Vyvanse
                                        PIPELINE*1                           Velcade                                                              WAVE 1                               Entyvio
                                                                              Azilva                                                             PIPELINE
                                                                          Hemophilia                                                                                                   Others
                                                                                                                                                    14
                                                                              Others                                                              GLOBAL
                                            14                                                                                                    BRANDS
                                          GLOBAL
                                          BRANDS




         2018                                                                                                    2024                                                                                                      2029
  PRO-FORMA
   REVENUE

Note: The above chart represents conceptual changes in revenue through 2024 and 2029 demonstrating growth over time offsetting loss of exclusivities and achieving a single digit growth as compared to 2018 pro forma revenue
which represents the sum of Takeda revenue for FY2018 plus Shire revenue for the same period (not including the Legacy Shire oncology business, which was sold in August 2018), converted to JPY at the rate of $1 = 111 JPY, and
converted from US GAAP to IFRS. Actual future net sales achieved by our commercialized products and pipelines will be different, perhaps materially so, as there is a range of possible outcomes from clinical development, driven by a
number of variables, including safety, efficacy and product labelling. In addition, if a product is approved, the effect of commercial factors including the patient population, the competitive environment, pricing and reimbursement is   17
also uncertain. Sales estimate in Wave 1 Pipeline is non-risk adjusted.
R&D DAY AGENDA – NEW YORK, NOVEMBER 14, 2019

       TIME            AGENDA
                       Welcome and Opening Remarks
       12:30 – 12:35
                       Sheelagh Cawley-Knopf, Head R&D Global Portfolio Strategy
                       Takeda: A Global Values-Based, R&D-Driven Biopharmaceutical Leader
       12:35 – 12:45
                       Christophe Weber, President & CEO Takeda
                       Translating Science into Highly Innovative, Life-changing Medicines
       12:45 – 13:20
                       Andy Plump, President R&D
                       Oncology and Cell Therapies with Spotlight on CAR-NK
       13:20 – 13:45
                       Chris Arendt, Head Oncology Drug Discovery Unit
                       Spotlight on Oncology Opportunities
       13:45 – 14:05    • TAK-788 : Rachael Brake, Global Program Lead
                        • Pevonedistat : Phil Rowlands, Head Oncology Therapeutic Area Unit
       14:05 – 14:20   Break
                       Rare Diseases & Gene Therapy
       14:20 – 14:45
                       Dan Curran, Head Rare Disease Therapeutic Area Unit
                       Spotlight on Orexin2R agonists
       14:45 – 15:00
                       Deborah Hartman, Global Program Lead
                       Therapeutic Area Focus in GI with Spotlight on Celiac Disease
       15:00 – 15:20
                       Asit Parikh, Head GI Therapeutic Area Unit

       15:20 – 16:00   Panel Q&A Session

       16:00           Drinks reception
                                                                                              19
TRANSLATING SCIENCE INTO HIGHLY INNOVATIVE
LIFE-CHANGING MEDICINES
Andy Plump MD, PhD
President R&D
Takeda Pharmaceutical Company Limited
New York, NY
November 14, 2019
WHAT YOU WILL HEAR TODAY




  1                   2                      3
  Our portfolio       We are investing in    We have cultivated
  and pipeline will   novel mechanisms       an environment of
  drive growth and    and capabilities for   empowerment,
  offset key patent   a sustainable          accountability and
  expirations         future                 agility


                                                                  21
 WE ARE POSITIONED TO DELIVER NEAR-TERM & SUSTAINED GROWTH
                                                                   WAVE 11                                                                                                              WAVE 22
  TARGET                                                                                            CLINICAL-STAGE NMEs                                                                                                     PLATFORMS
 APPROVAL                          FY20              FY21              FY22              FY23              FY24                                                                 FY25 AND BEYOND
                                                   TAK-7883                            TAK-007            TAK-924                TAK-164           TAK-252
                                                    2L NSCLC                           Hematologic           AML               GI malignancies     Solid tumors                                                               TARGETED
                                                                                       malignancies                                                                                                         CELL THERAPY        INNATE   NEXT-GEN
          ONCOLOGY                                                                                                                                                                                          AND IMMUNE
                                                                                                                                                                                                             ENGAGERS          IMMUNE
                                                                                                                                                                                                                                        CHECKPOINT
                                                   TAK-9243                             TAK-788                                  TAK-573           TAK-981                                                                   MODULATION MODULATORS
                                                    HR-MDS                              1L NSCLC                                  R/R MM         Multiple cancers


                                                   TAK-620                             TAK-611            TAK-607               TAK-0794           TAK-754             TAK-755
                                                  CMV infect. in                         MLD (IT)      Complications of           MG, ITP             HemA               iTTP, SCD
                          Immunology
          RARE            Hematology
                                                   transplant                                            prematurity                                                                                            GENE
                                                                                                                                                                                                               THERAPY
          DISEASES        Metabolic
                                                   TAK-609                              TAK-755                                  TAK-531
                                                 Hunter CNS (IT)                           cTTP                                  Hunter CNS


                                                                                       TAK-935         Orexin2R-ag               TAK-341         Orexin2R-ag           TAK-041
                                                                                           DEE          (TAK-925/994)            Parkinson’s     Sleep Disorders         CIAS NS                                                OTHER
                                                                                                        Narcolepsy T1             Disease                                                                       GENE          PLATFORMS
                                                                                                                                                                                                               THERAPY        RNA Modulation

          NEUROSCIENCE                                                                                                           TAK-418           TAK-653             TAK-831                                               Antibody Transport
                                                                                                                                                                                                                                   Vehicle
                                                                                                                              Kabuki Syndrome          TRD               CIAS NS

                                                                                                                              WVE-120101 WVE-120102
                                                                                                                                Huntington’s      Huntington’s
                                                                                                                                  Disease           Disease


                                 TAK-721                                                                                        Kuma062            TAK-101             TAK-018              TAK-671
                                       EoE                                                                                     Celiac Disease     Celiac Disease    Crohn’s Disease           Acute
          GASTRO-                                                                                                                                                   (post-op and ileitis)   Pancreatitis        GENE
                                                                                                                                                                                                                              MICROBIOME
                                                                                                                                                                                                                                                    CELL
                                                                                                                                                                                                               THERAPY                            THERAPY
          ENTEROLOGY                                                                                                             TAK-954           TAK-906             TAK-951
                                                                                                                                   POGD           Gastroparesis          Nausea &
                                                                                                                                                                         vomiting


                                                   TAK-003                                                                       TAK-214           TAK-426             TAK-021
          VACCINES                               Dengue Vaccine                                                                  Norovirus         Zika Vaccine       EV71 vaccine
                                                                                                                                  Vaccine

1. Projected timing of approvals depending on data read-outs; some of these Wave 1 target approval dates assume accelerated approval                                                          Orphan potential in at least one indication
2. Some Wave 2 assets could be accelerated into Wave 1 if they have breakthrough data                                                                                                                                                                22
                                                                                                                                                                                              Estimated dates as of November 14, 2019
3. Projected approval date assumes filing on Phase 2 data
4. TAK-079 to be developed in Rare Diseases indications myasthenia gravis (MG) and immune thrombocytopenic purpura (ITP) (FPI projected in each indication in 2H FY19)
2019: A WATERSHED YEAR FOR TAKEDA




           INTEGRATION OF SHIRE                               EXPANSION OF OUR GLOBAL BRANDS                            UNPRECEDENTED NMEs

• 18 assets added to the clinical pipeline*                   • VARSITY study demonstrated head-to-head          • 17 NMEs in Phase 2 and Phase 3
                                                                superiority of Entyvio vs Humira and published
• Creation of a Rare Diseases Therapeutic Area                  in New England Journal of Medicine               • Potentially curative novel mechanisms (e.g.
                                                                                                                   TAK-101, Orexin2R-ag, CAR-NK)
• Access to world-class Gene Therapy                          • TAKHZYRO indication expansions in bradykinin
  capabilities                                                  mediated angioedema                              • Momentum in Cell Therapies, including new
                                                                                                                   partnership with MD Anderson
                                                              • Expecting >15 approvals in China over the next
                                                                5 years

                                                                                                                                                            23
  * Including approved products with ongoing R&D investment
PATIENT-DRIVEN AND SCIENCE-FIRST IN 3 CORE AREAS



                                     INNOVATIVE BIOPHARMA


            ONCOLOGY             RARE DISEASES    NEUROSCIENCE       GASTROENTEROLOGY




           PLASMA DERIVED THERAPIES                   VACCINES BUSINESS UNIT

                       Complementing our                          Differentiated
                        rare disease focus                       Dengue vaccine



                                                                                        24
WE ARE DOING MORE FOR OUR PATIENTS




                8
         POTENTIAL BIC/FIC NMEs IN
                                                                                                                    ~40
                                                                                                                     NEW MOLECULAR
                                                                                                                                         ~4,500
                                                                                                                                          R&D EMPLOYEES
         PIVOTAL STUDIES1                                                                                            ENTITY CLINICAL      GLOBALLY
                                                                                                                     STAGE ASSETS




   DIVERSIFIED
   MODALITIES
   IN RESEARCH
                                        ~70%                                                ~50%
                                                                                                                         PIPELINE WITH
                                                                                                                         ORPHAN DRUG
                                                                                                                         DESIGNATION2
                                                                                                                                                  200+
                                                                                                                                                  ACTIVE PARTNERSHIPS




 1. BIC/FIC Best-In-Class/First-In-Class (incl. relugolix). Three NMEs in pivotal studies in 2018                                                                       25
 2. 31 Orphan Drug Designations in at least one indication for assets in Phase 1 through LCM in 2019 versus 15 in 2018
WE ARE TAKING COURAGEOUS RISKS TO MAKE A CRITICAL DIFFERENCE




                                                                                           5
   “There is a considerable need
    for improved treatments for                                                                Accelerated programs
                                                                  Cell Tx
   individuals with NT1, which is                                Gene Tx


                                                                                          20
    caused by the loss of orexin-                                Biologics
  producing neurons in the brain”                                Peptides
                                                                                 ~70%          NME stage-ups since FY18

                               Dr. Makoto Honda, Sleep        Oligonucleotide


                                                                                          19
                               Disorders Project Leader,
                               Tokyo Metropolitan
                                                               Microbiome                      Indications terminated or
                               Institute of Medical Science
                                                              Small Molecule                   externalized since FY18
  Data presented at World Sleep conference



          NOVEL TARGET                                                     MODALITY        FAST GO / NO-GO
        MECHANISMS WITH                                                 DIVERSIFICATION    DECISION MAKING
        HUMAN VALIDATION



                                                                                                                           26
WE ARE CULTIVATING THE BEST SCIENCE THROUGH
DIFFERENTIATED PARTNERSHIPS…
     Select partnerships*


                                                                                  Access to Innovation


                              RESEARCH                        IN-LICENSE               Risk-Sharing
                           COLLABORATIONS
                                  ~ 110                            ~ 50

                                                                                   Expanding Capacity
                                 JOINT                         NEWCO
                             DEVELOPMENT                     FORMATION
                                   ~ 20                            ~ 20
                                                                           Total Value in Public & Private Equity

                                                                                        >$1B
     * Externalizations and venture investments are not included


                                                                                                                    27
WE ARE NURTURING INNOVATION WHEREVER IT OCCURS



                                CHARACTERISTICS               TAKEDA                   PARTNER-SOURCED

              TAKEDA           GREATER VALIDATION     TAK-925, TAK-994 Narcolepsy       TAK-573 Multiple Myeloma
            DEVELOPS &           AND / OR LOWER
          COMMERCIALIZES       DEVELOPMENT COST       TAK-951 Vomiting Syndromes            CD19 1XX (CAR-T)

                                                    TAK-924 Myelodysplastic Syndrome        Kuma-062 Celiac




         TAKEDA/PARTNER        UNCERTAIN SCIENCE            Psychiatry Assets               Alzheimer Disease
       SHARE DEVELOPMENT         AND / OR HIGH
      & COMMERCIALIZATION      DEVELOPMENT COST




                                                                                                                   28
Representative examples only
TO DRIVE HIGHER RETURN ON OUR $4.5B ANNUAL R&D INVESTMENT



                          PRIORITIZED R&D PORTFOLIO                FLEXIBLE R&D FUNDING MODEL




      BALANCED SPEND                        TARGETED POPULATIONS                          PARTNERSHIP MODEL

    Minimize internal spend and           Smaller trials, lower costs, potential           Success driven milestone
          infrastructure                           longer exclusivity                             payments




                                                                                                                      29
A RESEARCH ENGINE FUELING A SUSTAINABLE PIPELINE

POTENTIAL NME PIVOTAL STUDY STARTS BY YEAR                                      IMPROVED PRODUCTIVITY


                                                                                • Research momentum building
                                                                    Projected
                                                                                  with a projected ~18 portfolio
               Clinical                                        Replenishment
                                                                    Research      entries in FY19
               Pipeline                                               Engine
                                                                                • Productivity likely to increase with
                                        11
                                                                                  expansion of cell and gene
                                                           8                      therapy capabilities
                                                                6
          4                                                               4     • Leveraging partnerships to access
                          2
                                                                                  the best clinical or preclinical
  FY   2019            2020           2021            2022     2023     2024      innovation
       Note: Projections assume successful data readouts




                                                                                                                      30
PIPELINE INVESTMENTS SUPPORTING NEAR-TERM GROWTH




                                    WAVE 1

                                             INNOVATIVE EXPANSIONS


                                         NEW MOLECULAR ENTITIES




                                                                     31
WE ARE DRIVING EXPANSION OF OUR GLOBAL BRANDS
    SELECT GLOBAL GROWTH BRANDS
                   TAU                               Therapies                                   New Indications / Geographic Expansions                        Target (FY)

                                                 Alunbrig                             1L Non Small Cell Lung Cancer                                                 2020

                  ONC                            Ninlaro                              ND MM Maintenance (non-SCT and post-SCT)                                  2020 / 2022

                                                 Entyvio                              Bradykinin Mediated Angioedema                                                2024
                  Rare                                            *                   Prophylactic Treatment of von Willebrand Disease                              2021
                                                 Alofisel                             Ulcerative Colitis, Crohn’s Disease (subcutaneous formulation)            2019 / 2020

                                                 Takhzyro                             Graft versus Host Disease (prophylaxis)                                       2022
                    GI
                                                                                      Complex Perianal Fistulas                                                     2021


    SELECT REGIONAL EXPANSIONS
               Region                                                    Therapies                                         Region                       Therapies

                                                                                                                                                       relugolix, cabozantinib,
                China                                                                                                       Japan                      niraparib


                                                                                                                                                                                  32
 ND MM: newly diagnosed multiple myeloma   * VONVENDI is emerging as a global brand
 SCT: stem cell transplant                  Estimated dates as of November 14, 2019
WAVE 1 NEW MOLECULAR ENTITIES HAVE POTENTIAL
TO DELIVER >$10B AGGREGATE PEAK SALES…
  TARGET APPROVAL1                                 FY20                    FY21                     FY22                    FY23               FY24

                                                                         TAK-7882                                          TAK-007           TAK-924
                                                                                                                          Hematologic
                                                                           2L NSCLC                                       malignancies           AML

               ONCOLOGY
                                                                         TAK-9242                                          TAK-788
                                                                           HR-MDS                                           1L NSCLC
                                                                                                                                                                         14 potential NME
                                                                          TAK-620                                          TAK-611           TAK-607
                                                                                                                                                                          launches which
                                                                                                                                                                              represent
                                                                        CMV infect. in                                      MLD (IT)       Complications of
                                Immunology                               transplant                                                          prematurity
               RARE             Hematology
               DISEASES         Metabolic
                                                                          TAK-609
                                                                        Hunter CNS (IT)
                                                                                                                           TAK-755
                                                                                                                              cTTP
                                                                                                                                                                            best-in-class
                                                                                                                                                                                   or
               NEUROSCIENCE                                                                                                TAK-935
                                                                                                                              DEE
                                                                                                                                           Orexin2R-ag
                                                                                                                                            (TAK-925/994)
                                                                                                                                                                            first-in-class
                                                                                                                                                                              therapies
                                                                                                                                            Narcolepsy T1




               GASTRO-                           TAK-721                                                                                                                to advance patient
                                                                                                                                                                          standard of care
               ENTEROLOGY                            EoE




               VACCINES                                                   TAK-003
                                                                       Dengue Vaccine



  Peak sale estimate of >$10B is non-risk adjusted                                                                                       Orphan potential in at least one indication         33
  1. Projected timing of approvals depending on data read-outs; some of these Wave 1 target approval dates assume accelerated approval
  2. Projected approval date assumes filing on Phase 2 data                                                                              Estimated dates as of November 14, 2019
…AND ARE EXPECTED TO DELIVER LIFE-CHANGING MEDICINES
 POTENTIAL FIRST-IN-CLASS OR BEST-IN-CLASS NMEs
                                                                                                                                                               TARGET                    ADDRESSABLE               ADDRESSABLE
                                     PRODUCT                            MECHANISM                                 INDICATION                                APPROVAL DATE                POPULATION                POPULATION
                                                                                                                                                                (FY)1                      (IN US)2                  (WW)2,3

                                     TAK-788                            EGFR inhibitor (exon 20)                  NSCLC – 2L / 1L                             20214 / 2023                     ~2k                    ~20 - 30k

                                     pevonedistat (TAK-924)             NAE inhibitor                             HR-MDS / AML                                20214 / 2024                 ~7k / ~12k           15 - 20k / 20 - 25k
             ONCOLOGY
                                     TAK-007                            CD19 CAR-NK                               Hematologic malignancies                         2023                        ~9k                    ~15 - 25k


                                     TAK-609                            ERT / I2S replacement                     Hunter CNS (IT)                                  2021                       ~250                    ~1 - 1.5k

             RARE                    maribavir (TAK-620)                UL97 kinase inh                           CMV infect. in transpl.                          2021                      ~7 - 15k                 ~25 - 45k
             DISEASES
                                     TAK-607                            IGF-1/ IGFBP3                             Complications of prematurity                     20245                       ~25k                   ~80 - 90k
              Immunology
              Hematology             TAK-611                            ERT / arylsulfatase A                     MLD (IT)                                         2023                       ~350                     ~1 - 2k
              Metabolic

                                     TAK-755                            ERT/ ADAMTS-13                            cTTP / iTTP                                  2023 / 2025                 ~500 / ~2k              2 - 6k / 5 - 18k


                                     Orexin programs                    Orexin 2R agonist                         Narcolepsy Type 1                                2024                     70 - 140k               300k - 1.2M
            NEUROSCIENCE
                                     TAK-935                            CH24H inhibitor                           Developmental and Epileptic                      2023                        ~50k                   ~70 - 90k
                                                                                                                  Encephalopathies (DEE)

            GASTRO-
            ENTEROLOGY               TAK-721                            Oral anti-inflammatory                    Eosinophilic Esophagitis                         2020                       ~150k              Under evaluation



            VACCINES                 TAK-003                            Vaccine                                   Dengue                                           2021                       ~32M                      ~1.8B

1. Projected timing of approvals depending on data read-outs; some of these target approval dates assume accelerated approval   4. Projected approval date assumes filing on Phase 2 data
2. Estimated number of patients projected to be eligible for treatment in markets where the product is anticipated to be        5. Currently in a non-pivotal Ph 2; interim stage gates may advance program into pivotal trial for               34
   commercialized, subject to regulatory approval                                                                                  target approval by 2024
3. For TAK-788, TAK-924, TAK-007, TAK-607 and TAK-620 the addressable population represent annual incidence                        Currently in pivotal study or potential for registration enabling Ph-2 study (note: table excludes relugolix)
IN SUMMARY: ROBUST NEAR-TERM GROWTH
                                                                                         TAK-609        Hunter CNS (IT)                                                                              Potential NME Approval
                                                                 Eosinophilic
                                                   TAK-721
                                                                 Esophagitis1
                                                                                         TAK-003        Dengue vaccine
                                                                                                                                                                                                     Potential Global Brand Extension
                                                                 UC/CD, CN               maribavir
                                                   ENTYVIO       sc UC/CD, US, EU, JP2   TAK-620
                                                                                                        CMV transplant                                                                               Potential Regional Brand Extension
                                                                 NDMM nSCT, US,          pevonedistat
                                                   NINLARO                                            HR-MDS
                                                                 EU                      TAK-924
                                                                 1L NSCLC, US, EU
                                                   ALUNBRIG                              TAK-788        2L NSCLC3
                                                                 2L NSCLC, JP

                                                   GATTEX        SBS, JP                 TAKHZYRO       HAE, JP               GATTEX        SBS, CN               TAK-755       cTTP 5

                                                                                                        1L NSCLC, CN                        NDMM SCT, US,                       Hematologic
                                                   TAKHZYRO      HAE, CN                 ALUNBRIG                              NINLARO                            TAK-007
                                                                                                        2L NSCLC, CN                        EU                                  malignancies
                                                                 Gaucher Disease,                       H2H alectinib, EU
                                                   VIPRIV                                ALUNBRIG                              ALUNBRIG     H2H alectinib, US     TAK-611       MLD (IT)
                                                                 CN                                     Post-2Gen, US, EU
                             sc UC, US                                                                  NDMM, US, EU, JP
               ENTYVIO                             FIRAZYR       HAE CN                  NINLARO                               ENTYVIO      GvHD, EU              TAK-935       DEE4
                             CD, JP                                                                     NDMM nSCT, JP
                                                                                                                                                                                                                    Complications of
               GATTEX        Pediatric, US         REPLAGAL      Fabry Disease, CN       ALOFISEL       CPF, JP                VONVENDI     Peds, US, EU, JP      TAK-788       1L NSCLC4,5          TAK-607
                                                                                                                                                                                                                    prematurity
                                                                 Ovarian 1L, 2L, JP                                                                                             CPF, US
               NINLARO       NDMM SCT, JP          niraparib                             cabozantinib 1L RCC, JP               ICLUSIG      1L Ph+ ALL, US        ALOFISEL                           Orexin 2R ag   Narcolepsy T1
                                                                 Ov Salvage 1L, JP                                                                                              CCF
                                                                                                                                                                                                     pevonedistat
               ADCETRIS      FL PTCL, JP           VONVENDI      VWD, JP                 vonoprazan     OD ARD, JP             ADYNOVATE    HemA, CN              VONVENDI      Prophy, JP                        AML5
                                                                                                                                                                                                     TAK-924

               cabozantinib 2L RCC, JP             ADCETRIS      FL PTCL, EU             relugolix      Prostate, JP           relugolix    Prostate, CN          ICLUSIG       1L Ph+ ALL, EU, JP   TAKHZYRO       BMA, US
REGIONAL                     Acid Reflux Dis.
               vonoprazan                          cabozantinib HCC, JP                  VONVENDI       Prophy, US, EU         OBIZUR       CHAWI, EU             OBIZUR        CHAWI, US            NINLARO        NDMM nSCT, CN
                             JP, CN


                          FY19                                 FY20                                  FY21                                  FY22                              FY23                              FY24
1. China approval in 2023                                                                          Potential approvals by fiscal year as of November 14, 2019
2. US approval for sc CD, EU approval for sc UC & CD, Japan approval for sc CD                     The target dates are estimates based on current data and subject to change
3. Includes approval in China
4. China approval in 2024                                                                                                                                                                                                              35
5. New indication for currently unapproved asset
SUSTAINED GROWTH BEYOND FY25




                               WAVE 2

                                        NOVEL MECHANISMS


                                   NEXT-GENERATION PLATFORMS




                                                               36
DRIVEN BY A CLINICAL PIPELINE OF NOVEL MECHANISMS…
      TARGET APPROVAL1                                                           FY25 AND BEYOND

                                                         TAK-164            TAK-252
                                                       GI malignancies      Solid tumors
                 ONCOLOGY
                                                         TAK-573            TAK-981
                                                          R/R MM          Multiple cancers




                                                                                                                                             Rich early
                                                        TAK-0792            TAK-754             TAK-755
                                                          MG, ITP              HemA              iTTP, SCD
                 RARE         Immunology
                              Hematology
                 DISEASES     Metabolic                  TAK-531
                                                         Hunter CNS                                                                            clinical
                                                         TAK-341
                                                         Parkinson’s
                                                                         Orexin2R-ag            TAK-041
                                                                                                                                             pipeline of
                                                                                                                                             potentially
                                                          Disease         Sleep Disorders         CIAS NS

                                                         TAK-418            TAK-653             TAK-831
                 NEUROSCIENCE                         Kabuki Syndrome           TRD               CIAS NS
                                                                                                                                          transformative
                                                      WVE-120101 WVE-120102
                                                        Huntington’s
                                                          Disease
                                                                           Huntington’s
                                                                             Disease                                                        and curative
                                                        Kuma062
                                                       Celiac Disease
                                                                            TAK-101
                                                                           Celiac Disease
                                                                                                TAK-018
                                                                                               Crohn’s Disease
                                                                                                                     TAK-671
                                                                                                                       Acute
                                                                                                                                                NMEs
                 GASTRO-                                                                     (post-op and ileitis)   Pancreatitis
                 ENTEROLOGY                              TAK-954            TAK-906             TAK-951
                                                           POGD            Gastroparesis         Nausea &
                                                                                                 vomiting

                                                         TAK-214            TAK-426             TAK-021
                  VACCINES                                Norovirus         Zika Vaccine       EV71 Vaccine
                                                           Vaccine

       1. Some Wave 2 assets could be accelerated into Wave 1 if they have breakthrough data                                           Orphan potential in at least one indication
       2. TAK-079 to be developed in Rare Diseases indications myasthenia gravis (MG) and immune thrombocytopenic purpura (ITP) (FPI
          projected for 2H FY19)                                                                                                       Estimated dates as of November 14, 2019
                                                                                                                                                                                     37
…AND WITH OUR NEXT-GENERATION PLATFORMS
  TARGET APPROVAL                                                                       FY25 AND BEYOND

                                                  CELL THERAPIES AND               TARGETED INNATE IMMUNE          NEXT-GEN CHECKPOINT
                                                  IMMUNE ENGAGERS                       MODULATION                     MODULATORS
                                                    CAR-T       GammaDelta
                                                                                            Attenukine           Agonist-redirected checkpoints
                                                                                                Teva                        Shattuck
            ONCOLOGY                           MSKCC, Noile-
                                                  Immune
                                                                   CAR-T
                                                               GammaDelta Tx                   STING                      Humabodies
                                               T-CiRA, Takeda Conditional T cell          CuraDev, Takeda                  Crescendo
                                                   CAR-NK        engagers                  SUMOylation
                                                MD Anderson      Maverick                     Takeda




            RARE
            DISEASES
                              Immunology
                              Hematology
                              Metabolic
                                                     GENE THERAPY
                                                       Hemophilia
                                                                                                                                                          Harnessing the
                                                                                                                                                        potential of cell and
                                                Lysosomal Storage Diseases



                                                                                                                                                        gene therapies and
            NEUROSCIENCE
                                                     GENE THERAPY
                                               Neurodegenerative Diseases
                                                                                      OTHER PLATFORMS
                                                                                         RNA Modulation
                                                                                          Wave, Skyhawk
                                                                                                                                                           other diverse
                                                       StrideBio                    Antibody Transport Vehicle
                                                                                              Denali                                                        modalities

                                                                                         MICROBIOME
            GASTRO-                                  GENE THERAPY                           FIN-524                     CELL THERAPY
                                                            Liver                            FInch
            ENTEROLOGY                                     Ambys                                                            Ambys
                                                                                       Microbial Consortia
                                                                                            NuBiyota



 Some Wave 2 assets could be accelerated into Wave 1 if they have breakthrough data                                                               Estimated dates as of November 14, 2019


                                                                                                                                                                                            38
INVESTING IN CAPABILITIES TO POSITION US FOR SUCCESS


                           • 5 clinical programs by end of FY20
           Cell Therapy    • Disruptive platforms, including off-the-
                             shelf cell-therapies


                           • World-class gene therapy
                             manufacturing
           Gene Therapy
                           • Accessing innovation through
                             partnerships (e.g. Stridebio, Ambys)


                           • Accelerate clinical development with
                             real world data (e.g. TAK-788)
           Data Sciences
                           • Use machine learning to identify rare
                             disease patients



                                                                        39
COMMITTED TO OUR PEOPLE




                          40
LIVING OUR VALUES THROUGHOUT THE INTEGRATION PROCESS




                                  December 2018
                         Leadership Team and Proposed R&D
                            Operating Model Announced

                                      April 2019
                             Prioritization of Combined
                                Pipeline and Portfolio

                                    August 2019
                              R&D Employees Informed
                               of Employment Status*




                                                            41
   * Where legally cleared
STRONG LEADERSHIP EXECUTING ON OUR VISION



  ASIT PARIKH                       PHIL ROWLANDS               DAN CURRAN                    EMILIANGELO RATTI               SARAH SHEIKH                               New hire
  Head, Gastroenterology            Head, Oncology              Head, Rare Diseases           Head, Neuroscience              Head, Neuroscience
  Therapeutic Area Unit             Therapeutic Area Unit       Therapeutic Area Unit         Therapeutic Area Unit           Therapeutic Area Unit*
                                                                                                                                                             *Sarah Sheik to succeed Emiliangelo Ratti
                                                                                                                                                             upon his retirement beginning November 25
                                                                                                                                                             †includes  Regulatory, Global Patient Safety
                                                                                                                                                             Evaluation, Development Operations, and
                                                                                                                                                             Clinical Supply Chain



  STEVE HITCHCOCK                   NENAD GRMUSA                GEORGIA KERESTY               ANNE HEATHERINGTON              WOLFRAM NOTHAFT
  Head, Research                    Head, Center for            R&D Chief Operating Officer   Head, Data Sciences Institute   Chief Medical Officer
                                    External Innovation




   STEFAN WILDT                      JEREMY CHADWICK             WOLFGANG HACKEL              ERIKA MARDER                    COLLEEN BEAUREGARD       TOSHIO FUJIMOTO
   Head, Pharmaceutical Sciences     Head, Global Development    Head, Global R&D Finance     Head, Global R&D Human          Head, Global R&D         General Manager, Shonan
   and Translational Engine, Cell    Office†                                                  Resources                       Communications           Health Innovation Park (iPark)
   Therapies




                                                                                                                                                                                                            42
OUR COMMITMENT TO OUR PEOPLE IS BEING RECOGNIZED




                                                   43
 WE ARE POSITIONED TO DELIVER NEAR-TERM & SUSTAINED GROWTH
                                                                   WAVE 11                                                                                                              WAVE 22
  TARGET                                                                                            CLINICAL-STAGE NMEs                                                                                                     PLATFORMS
 APPROVAL                          FY20              FY21              FY22              FY23              FY24                                                                 FY25 AND BEYOND
                                                   TAK-7883                            TAK-007            TAK-924                TAK-164           TAK-252
                                                    2L NSCLC                           Hematologic           AML               GI malignancies     Solid tumors                                                               TARGETED
                                                                                       malignancies                                                                                                         CELL THERAPY        INNATE   NEXT-GEN
          ONCOLOGY                                                                                                                                                                                          AND IMMUNE
                                                                                                                                                                                                             ENGAGERS          IMMUNE
                                                                                                                                                                                                                                        CHECKPOINT
                                                   TAK-9243                             TAK-788                                  TAK-573           TAK-981                                                                   MODULATION MODULATORS
                                                    HR-MDS                              1L NSCLC                                  R/R MM         Multiple cancers


                                                   TAK-620                             TAK-611            TAK-607               TAK-0794           TAK-754             TAK-755
                                                  CMV infect. in                         MLD (IT)      Complications of           MG, ITP             HemA               iTTP, SCD
                          Immunology
          RARE            Hematology
                                                   transplant                                            prematurity                                                                                            GENE
                                                                                                                                                                                                               THERAPY
          DISEASES        Metabolic
                                                   TAK-609                              TAK-755                                  TAK-531
                                                 Hunter CNS (IT)                           cTTP                                  Hunter CNS


                                                                                       TAK-935         Orexin2R-ag               TAK-341         Orexin2R-ag           TAK-041
                                                                                           DEE          (TAK-925/994)            Parkinson’s     Sleep Disorders         CIAS NS                                                OTHER
                                                                                                        Narcolepsy T1             Disease                                                                       GENE          PLATFORMS
                                                                                                                                                                                                               THERAPY        RNA Modulation

          NEUROSCIENCE                                                                                                           TAK-418           TAK-653             TAK-831                                               Antibody Transport
                                                                                                                                                                                                                                   Vehicle
                                                                                                                              Kabuki Syndrome          TRD               CIAS NS

                                                                                                                              WVE-120101 WVE-120102
                                                                                                                                Huntington’s      Huntington’s
                                                                                                                                  Disease           Disease


                                 TAK-721                                                                                        Kuma062            TAK-101             TAK-018              TAK-671
                                       EoE                                                                                     Celiac Disease     Celiac Disease    Crohn’s Disease           Acute
          GASTRO-                                                                                                                                                   (post-op and ileitis)   Pancreatitis        GENE
                                                                                                                                                                                                                              MICROBIOME
                                                                                                                                                                                                                                                    CELL
                                                                                                                                                                                                               THERAPY                            THERAPY
          ENTEROLOGY                                                                                                             TAK-954           TAK-906             TAK-951
                                                                                                                                   POGD           Gastroparesis          Nausea &
                                                                                                                                                                         vomiting


                                                   TAK-003                                                                       TAK-214           TAK-426             TAK-021
          VACCINES                               Dengue Vaccine                                                                  Norovirus         Zika Vaccine       EV71 vaccine
                                                                                                                                  Vaccine

1. Projected timing of approvals depending on data read-outs; some of these Wave 1 target approval dates assume accelerated approval                                                          Orphan potential in at least one indication
2. Some Wave 2 assets could be accelerated into Wave 1 if they have breakthrough data                                                                                                                                                                44
                                                                                                                                                                                              Estimated dates as of November 14, 2019
3. Projected approval date assumes filing on Phase 2 data
4. TAK-079 to be developed in Rare Diseases indications myasthenia gravis (MG) and immune thrombocytopenic purpura (ITP) (FPI projected in each indication in 2H FY19)
R&D DAY AGENDA – NEW YORK, NOVEMBER 14, 2019

       TIME            AGENDA
                       Welcome and Opening Remarks
       12:30 – 12:35
                       Sheelagh Cawley-Knopf, Head R&D Global Portfolio Strategy
                       Takeda: A Global Values-Based, R&D-Driven Biopharmaceutical Leader
       12:35 – 12:45
                       Christophe Weber, President & CEO Takeda
                       Translating Science into Highly Innovative, Life-changing Medicines
       12:45 – 13:20
                       Andy Plump, President R&D
                       Oncology and Cell Therapies with Spotlight on CAR-NK
       13:20 – 13:45
                       Chris Arendt, Head Oncology Drug Discovery Unit
                       Spotlight on Oncology Opportunities
       13:45 – 14:05    • TAK-788 : Rachael Brake, Global Program Lead
                        • Pevonedistat : Phil Rowlands, Head Oncology Therapeutic Area Unit
       14:05 – 14:20   Break
                       Rare Diseases & Gene Therapy
       14:20 – 14:45
                       Dan Curran, Head Rare Disease Therapeutic Area Unit
                       Spotlight on Orexin2R agonists
       14:45 – 15:00
                       Deborah Hartman, Global Program Lead
                       Therapeutic Area Focus in GI with Spotlight on Celiac Disease
       15:00 – 15:20
                       Asit Parikh, Head GI Therapeutic Area Unit

       15:20 – 16:00   Panel Q&A Session

       16:00           Drinks reception
                                                                                              45
TAKEDA ONCOLOGY: INNOVATIVE CELL THERAPIES
& NEW FRONTIERS IN IMMUNO-ONCOLOGY
Chris Arendt, PhD
Head of Oncology Drug Discovery Unit
Takeda Pharmaceutical Company Limited
New York, NY
November 14, 2019
A CURATIVE-INTENT IMMUNO-ONCOLOGY PIPELINE IS TAKING SHAPE
 WAVE 1                                        WAVE 2
 NMEs that complement our global brands        Leading platforms in immuno-oncology and cell therapies

        Hematologic                                                             Hematologic
        Malignancies                                  Immuno-Oncology           Malignancies
                        TAK-924
                        FY21 target approval

                        TAK-007
                        FY23 target approval
        Lung Cancer &                                                           Lung Cancer &
         Solid Tumors                                                            Solid Tumors


                        TAK-788
                        FY21 target approval




                                                                                                         47
PARTNERSHIPS DRIVE OUR DIFFERENTIATED EARLY CLINICAL PIPELINE



      Unique                                Differentiated
      Partnership                           Portfolio
      Model


       • Innovative, disruptive platforms    • Harness innate immunity

       • Agility in ‘open lab’ model         • Eye towards solid tumors




                                                                          48
THE FIRST BREAKTHROUGHS IN CANCER IMMUNOTHERAPY
TARGET T CELLS
T CELL CHECKPOINT INHIBITORS                                                  FIRST-GEN CAR-Ts

  PD-1          T cell
                                                                                                          CAR
                                                                                                 T cell


CTLA-4




                               Cancer cell death




                                                                                                                49
                                 Adapted from Chen & Mellman, Immunity 2013
OUR FOCUS IS ON NOVEL MECHANISMS IN THE
CANCER-IMMUNITY CYCLE

             Novel-scaffold immune
         2   checkpoint platforms
                                                                                      Next-gen cell therapy &
                                                                                  3   immune engager platforms




         Innate immuno-
     1   modulation
                                 Cancer cell death




                                                                                                                 50
                                     Adapted from Chen & Mellman, Immunity 2013
  EMERGING STRENGTH IN TARGETED INNATE IMMUNE
1
  MODULATION
                                                      HIGH UNMET           Patients refractory/ unresponsive to current
                                                         NEED              immunotherapies


                                                          OUR              Systemic therapies leveraging innate immunity to
                                                     DIFFERENTIATED        enhance response breadth, depth & durability
                                                        APPROACH
       Cancer cell death

     PLATFORM                              PARTNER      MECHANISM-OF-ACTION PROGRAMS                                 PRE-CLINICAL              PH 1
                                                                                       TAK-676 (STING agonist)
     STING agonism                                      • Innate-to-adaptive priming
                                                                                       Targeted STING agonist

                                                                                       TAK-981
    SUMOylation                                         • Innate immune enhancer
                                                                                       TAK-981 (ADCC combo)

                                                                                       TAK-573 (CD38-AttenukineTM)
     AttenukineTM                                       • Targeted attenuated IFN-α
                                                                                       Next-gen AttenukineTM
                                                                                                                                                      51
ADCC = Antibody-dependent cellular cytotoxicity                                                                             = first-in-class
   ATTENUKINETM PLATFORM ELICITS BOTH DIRECT
 1
   TUMOR KILL AND IMMUNE ACTIVATION
TARGETED ATTENUATED TYPE I IFN PAYLOAD                                                                     TAK-573 POM IN ONGOING PHASE 1 R/R MM STUDY

                            TAK-573
                                                                                                                           Activation of CD8+ T cells in bone marrow
Binds CD38                                                Immunomodulation in
                                                                                                                           Baseline              Cycle 1 Day 16            Cycle 2 Day 2
                                                          preclinical models
                                                                                                                             7.3%                     18.4%                        28.8%
                                                          Includes CD8+ T cell




                                                                                                         CD8+ T cells
   Human IgG4 Fc
                                                          migration / activation

Attenuated IFNα2b

                                                                                                                                      Activation Marker (CD69+)

  NEXT-GEN                                                  Binds innate
                                                            immune
  ATTENUKINETM                                              target
                                                                                                                        EXPECTED                 2019               2020
                                                                                                                        MILESTONES (FY)      Ph1 FPI in solid     Ph1b MM (incl.
                                                                                                                                                tumors            combinations)
                                                    Attenuated IFNα2b


   FPI = first patient in   R/R MM = Relapsed / refractory multiple myeloma   POM = proof-of-mechanism
                                                                                                                                                                                           52
1 NOVEL SCAFFOLD NEXT-GENERATION CHECKPOINT MODULATORS


                                        HIGH UNMET              Current checkpoint modulators fail to improve
                                           NEED                 overall survival in majority of patients


                                            OUR                 New classes of checkpoint inhibitors designed
                                       DIFFERENTIATED           to increase breadth and depth of responses
                                          APPROACH
      Cancer cell death



 PLATFORM                    PARTNER   MECHANISM-OF-ACTION              PROGRAMS                              PRE-CLINICAL             PH 1
                                                                       Concept 1
 Humabody Vh                            • Unique pharmacology
                                                                       Concept 2

 Agonist-redirected                     • Co-inhibition & co-          TAK-252 / SL-279352 (PD1-Fc-OX40L)
 checkpoints                              stimulation                  TAK-254 / SL-115154 (CSF1R-Fc-CD40L)



                                                                                                                                              53
                                                                                                                    = first-in-class
Vh = Variable heavy domain
  BRINGING 5 NOVEL CELL THERAPY PLATFORMS
1
  TO THE CLINIC BY THE END OF FY20

                                                   HIGH UNMET      Current CAR-T therapies have significant
                                                      NEED         challenges & fail to address solid tumors



                                                       OUR         Leverage novel cell platforms & engineering to
                                                  DIFFERENTIATED   address shortcomings in liquid & solid tumors
                                                     APPROACH
                Cancer cell death



                      INNATE IMMUNE PLATFORMS                                         Innate tumor sensors & effectors

                      • Multiple mechanisms of tumor killing              NK &
                                                                          γδT              Engineered CAR
                      • ‘Off-the-shelf’
                                                                          cells
                      • Utility in solid tumors
                                                                                             Fc-mediated killing
                                                                                                                         54
NK = Natural killer
   A NETWORK OF TOP INNOVATORS IS
 1
   FUELING TAKEDA’S CELL THERAPY ENGINE
                              CUTTING-EDGE ENGINEERING & CELL PLATFORMS

                                 IPSC                             γδT cell                         Armored                        Next-gen                 IPSC             CAR-NK
                               expertise                          platform                          CAR-Ts                         CARs                   CAR-Ts            platform




                                  Shinya                             Adrian                              Koji                       Michel                 Shin               Katy
                                Yamanaka                             Hayday                            Tamada                      Sadelain               Kaneko
                                                                                                                                                          Kaneko             Rezvani
                 2016




                                                                    2017




                                                                                                                       2018




                                                                                                                                                             2019
     Dec 2015                                                                  May 2017               Sept 2017                               July 2018             April 2019   Nov 2019



                                                                                                                                      Takeda Cell Therapy                 First Development-Stage
                                                                                                                                      Translational Engine                       Partnership
IPSC = Induced pluripotent stem cell     NK = Natural killer
                                                                                                                                                                                                    55
Dr. Sadelain is a co-inventor on patents relative to next-gen CARs, intellectual property that MSK has licensed to Takeda. As a
result of these licensing arrangements, Dr. Sadelain and MSK have financial interests related to these research efforts.
  TAKEDA IS EMBARKING ON A TRANSFORMATIVE CAR-NK
1
  PARTNERSHIP THAT COULD ENTER PIVOTAL TRIALS IN 2021

                                                IL-15     Activating
                                                         NK receptor
       NK CAR
       Platform
       Multiple mechanisms
       of tumor killing

       Potentiation of innate
       & adaptive immunity
                                                        CAR19




                                                                       56
1 FOUR NOVEL, OFF-THE-SHELF CAR-NK THERAPIES IN DEVELOPMENT

PATIENT VALUE PROPOSITION                                                                                                      PLATFORM VALUE INFLECTIONS
       Rapid and deep responses with a short-time-to-treatment,                                                                      FY
       safe, off-the-shelf CAR-NK available in outpatient &                                                                               Ongoing maturation of clinical data: Efficacious dose,
       community settings
                                                                                                                                  2H 2020 durability, partial vs. full allo, cryopreserved product
                      Initial opportunity in G7 countries (CD19)*                                                                         Manufacturing process complete
                       3L+ DLBCL                                           ~8,000
                                                                                                                                    2021     Pivotal trials in r/r DLBCL / CLL / Indolent NHL
                         3L+ CLL                                           ~5,000
                        3L+ iNHL                                           ~6,000

       Potential to move into earlier lines of therapy                                                                              2023     BLA filing



     PLATFORM                                 PARTNER                           MECHANISM-OF-ACTION                                PROGRAMS                           PRECLINICAL                  PH 1
                                                                                                                                   TAK-007 (CD19 CAR-NK)
     CAR-NK                                                                •     Non-autologous NK cell therapy                    BCMA CAR-NK
     (allo cord blood)                                                                                                             Platform expansion
                                           Dr. Katy Rezvani

                                                                                                                                                                                = first-in-class
CLL = Chronic lymphocytic leukemia DLBCL = Diffuse large B-cell lymphoma iNHL = Indolent non-Hodgkin’s lymphoma                                                                                           57
*Estimated number of patients projected to be initially eligible for treatment in G7 markets, subject to regulatory approval
1 DRAMATIC COMPLETE RESPONSE IN FIRST PATIENT TREATED

47-YEAR OLD MALE WITH RELAPSED TRANSFORMED                                     KINETICS OF CAR-NK VERSUS ENDOGENOUS T AND B
DOUBLE-HIT (C-MYC / BCL-2) DLBCL                                               CELLS IN PERIPHERAL BLOOD


                                                                                                                                CAR-NK cells




                                                                                % positive cells
                                                                                                    Days post-CAR-NK infusion




                                                                                X1000/ml of blood
                                                                                                                                T cells
                                                                                                                                B cells

            Baseline scan                                                                           Days post-CAR-NK infusion
                                                        Day 30 post CAR19-NK
                                                                                                                                               58
Data from Dr. Katy Rezvani, MD Anderson Cancer Center
1 IMPRESSIVE RESPONSES IN OTHER HEAVILY PRETREATED PATIENTS

61-YEAR OLD MALE CLL/RICHTER’S TRANSFORMATION                                        60-YEAR OLD FEMALE WITH CLL / ACCELERATED CLL
(5 PRIOR LINES OF THERAPY)                                                           (5 PRIOR LINES OF THERAPY)




                                                                                                                                  CAR-NK




             Baseline scan                              Day 30 post CAR19-NK                Baseline scan       Day 30 post CAR19-NK
                                                        CR in Richter’s; SD in CLL                                                     59
CLL = Chronic lymphocytic leukemia CR = Complete response SD = Stable disease
Data from Dr. Katy Rezvani, MD Anderson Cancer Center
  CAR-NK CELLS PERSIST IN PATIENTS AND DO NOT TRIGGER
1
  CYTOKINE RELEASE SYNDROME (CRS)
CAR-NK CELLS PERSIST UP TO 4 MONTHS POST INFUSION                            IL-6 LEVLS POST CAR-NK INFUSION DO NOT INDICATE CRS


                                                                                            Median IL-6 level in grade 2-5 CRS post-CAR-T treatment*
Vector transgene copy per µg of genomic DNA




                                                                             IL-6 (pg/ml)
                                                 Time from infusion (days)                                Time from infusion (days)
         CRS = Cytokine Release Syndrome                                                                                                               60
         *Turtle et al. 2017
         Data from Dr. Katy Rezvani, MD Anderson Cancer Center
1 CAR-NK EFFICACY & TOXICITY TREATING MULTPLE DIAGNOSES
                                                               Lines of                                   CRS /     Complete
              Diagnosis                                                                  HLA Match
                                                              Treatment                                  Neurotox   Response
                                                                       3
               DLBCL - Relapsed transformed double-hit
                                                                  Incl. ASCT
                                                                                         Partial match     None        
Dose
               DLBCL - Refractory                                      7                 Partial match     None         PD
Level 1
                                                                       4
               CLL
                                                          Incl. ibrutinib & venetoclax
                                                                                         Partial match     None
                                                                                                                       
               CLL                                                     4                 Partial match     None         PD
                                                                 Incl. ibrutinib


Dose
               CLL/Richter’s transformation                            5
                                                                 Incl. ibrutinib
                                                                                         Partial match     None         *
                                                                                                                     Richter’s
Level 2                                                                5
               CLL/Accelerated CLL
                                                          Incl. ibrutinib & venetoclax
                                                                                         Partial match     None                 CLL = Chronic lymphocytic leukemia
                                                                       4
               CLL
                                                                 Incl. ibrutinib
                                                                                         Partial match     None
                                                                                                                                CRS = Cytokine release syndrome

                                                                                                                                 DLBCL = Diffuse large B-cell lymphoma
                                                                      11
               DLBCL - Refractory
                                                                  Incl. ASCT
                                                                                         Partial match     None
                                                                                                                                ASCT = Autologous stem cell transplant

                                                                       4
                                                                                                                        
                                                                                                                                 HLA = Human leukocyte antigen
Dose           DLBCL - Relapsed transformed double-hit                                   Partial match     None
                                                                  Incl. ASCT                                                     PD = Progressive disease
Level 3                                                                4
               Follicular lymphoma - Relapsed                                             Mismatch         None         PD       *Complete response for Richter’s
                                                                  Incl. ASCT

               Follicular lymphoma - Relapsed                          4                  Mismatch         None
                                                                                                                                                             61

  Data from Dr. Katy Rezvani, MD Anderson Cancer Center
  FAST-TO-CLINIC CELL THERAPY ENGINE WILL MAXIMIZE
1
  LEARNINGS ON MULTIPLE ‘DISRUPTIVE’ PLATFORMS
        5 CLINICAL-STAGE PROGRAMS EXPECTED BY END OF FY20

                      FY19                             FY20                     FY21+:
                                                                                Other cell
         TAK-007          Off-the-shelf   TAK-102              Cytokine +        therapy
                         CAR-NK product
                                                               chemokine       candidates
                                                              armed CAR-T


                                          CD19 1XX-CAR-T
                                                             Next-gen CART
                                                            signaling domain



                      Hematology
                                          GDX012              Gamma-delta
                                                                T cells
                      Solid tumors

                                          GCC CAR-T            Colorectal
                                                                Cancer


                                                                                             62
    A RICH AND POTENTIALLY TRANSFORMATIVE EARLY CLINICAL
  1
    ONCOLOGY PIPELINE
PLATFORM               PARTNER(S)   MECHANISM-OF-ACTION                PROGRAMS                    PRECLINICAL PH1
                                                                       TAK-676 (STING agonist)                                    UNDISCLOSED
STING agonism                       • Innate-to-adaptive priming
                                                                       Targeted STING agonist                                       TARGETS
                                                                       TAK-981
SUMOylation                         • Innate immune enhancer
                                                                       TAK-981 (ADCC combo)

AttenukineTM                        • Targeted attenuated IFN-α        TAK-573 (CD38-AttenukineTM)

Agonist-redirected                                                     TAK-252 / SL-279353
                                    • Co-inhibition & co-stimulation
checkpoints                                                            TAK-254 / SL-115154

Shiga-like toxin A                  • Novel cytotoxic payload          TAK-169 (CD38-SLTA)

IGN toxin                           • Solid tumor-targeted ADC         TAK-164 (GCC-ADC)

Conditional T
                                    • Novel solid tumor platform       MVC-101 (EGFR COBRATM)
cell engagers
Cell therapy                                                           TAK-007 (CD19 CAR-NK)
                                    • Off-the-shelf cell therapies
platforms                                                              5 cell therapies expected in clinic by end of FY20

                                                                                                               = first-in-class
       Hematology    Solid tumors                                                                                                          63
NME MILESTONES ACHIEVED IN FY19 AND LOOKING AHEAD TO
OTHER POTENTIAL MILESTONES1 THROUGH FY20
                                                                                    PIVOTAL STUDY STARTS, APPROVALS


                         MLD                                       PEVONEDISTAT       AML                                                                                              EoE
     TAK-611
                         Ph 2 start2                              TAK-924            Ph 3 start
                                                                                                                                                                          TAK-721
                                                                                                                                                                                       Approval

                         cTTP                                                         1L NSCLC                                                                                         Huntington’s Disease
     TAK-755
                         Ph 3 start
                                                                   TAK-788
                                                                                      Ph 3 start
                                                                                                                                                                          mHTT ASO
                                                                                                                                                                                       Pivotal start


                1H FY 2019                                                   2H FY 2019                                                    1H FY 2020                               2H FY 2020
                         Narcolepsy                                PEVONEDISTAT       HR-MDS                                                        2L NSCLC
     TAK-925
                         POC                                      TAK-924            Ph 2 Overall Survival
                                                                                                                                 TAK-788
                                                                                                                                                    Ph 2 Pivotal
                                                                                                                                                                          TAK-620
                                                                                                                                                                                        R/R CMV SOT & HSCT
                                                                                                                                                                                        Ph 3 data

     TAK-721
                         EoE
                         Ph 3 data (induction)                    TAK-007
                                                                                      Hem. Malignancies
                                                                                      POC
                                                                                                                                 TAK-573
                                                                                                                                                    R/R MM, Solid Tumor
                                                                                                                                                    POC
                                                                                                                                                                          TAK-755
                                                                                                                                                                                        iTTP
                                                                                                                                                                                        POC

                         Celiac Disease                                               Hunter (IT)                                                                                      DEE
     TAK-101
                         POC
                                                                   TAK-609
                                                                                      Ph 3 data 2yr extension
                                                                                                                                                                          TAK-935
                                                                                                                                                                                       POC

                                                                                      Huntington’s Disease                                                                              Gastroparesis
                                                                   mHTT ASO                                                                                               TAK-906
                                                                                      POC                                                                                               POC

                                                                                      EoE                                                                                              Nausea & Vomiting
                                                                   TAK-721                                                                                                TAK-951
                                                                                      Ph 3 data (maintenance)                                                                          POC

       Oncology

       Rare Disease

       Neuroscience

       Gastroenterology
 Denotes milestones that have been achieved.
                                                                                                    KEY DATA READOUTS
                                                                                                                                                                                                              64
1. Potential key milestone dates as of November 14, 2019. The dates included herein are estimates based on current data and are subject to change
2. Potentially registration enabling
SUMMARY




  1                        2                     3
  Total transformation     Differentiated        Multiple near-term
  of preclinical & early   opportunities in IO   catalysts informing
  clinical pipeline        leveraging innate     momentum towards
                           immunity & cell       solid tumors
                           therapies



                                                                       65
R&D DAY AGENDA – NEW YORK, NOVEMBER 14, 2019

       TIME            AGENDA
                       Welcome and Opening Remarks
       12:30 – 12:35
                       Sheelagh Cawley-Knopf, Head R&D Global Portfolio Strategy
                       Takeda: A Global Values-Based, R&D-Driven Biopharmaceutical Leader
       12:35 – 12:45
                       Christophe Weber, President & CEO Takeda
                       Translating Science into Highly Innovative, Life-changing Medicines
       12:45 – 13:20
                       Andy Plump, President R&D
                       Oncology and Cell Therapies with Spotlight on CAR-NK
       13:20 – 13:45
                       Chris Arendt, Head Oncology Drug Discovery Unit
                       Spotlight on Oncology Opportunities
       13:45 – 14:05    • TAK-788 : Rachael Brake, Global Program Lead
                        • Pevonedistat : Phil Rowlands, Head Oncology Therapeutic Area Unit
       14:05 – 14:20   Break
                       Rare Diseases & Gene Therapy
       14:20 – 14:45
                       Dan Curran, Head Rare Disease Therapeutic Area Unit
                       Spotlight on Orexin2R agonists
       14:45 – 15:00
                       Deborah Hartman, Global Program Lead
                       Therapeutic Area Focus in GI with Spotlight on Celiac Disease
       15:00 – 15:20
                       Asit Parikh, Head GI Therapeutic Area Unit

       15:20 – 16:00   Panel Q&A Session

       16:00           Drinks reception
                                                                                              66
TAK-788: PURSUING A FAST-TO-PATIENT STRATEGY
FOR NSCLC PATIENTS WITH EGFR EXON 20 INSERTIONS
Rachael L Brake, PhD
Global Program Leader, Oncology
Takeda Pharmaceutical Company Limited
New York, NY
November 14, 2019
     THE SIZE OF THE LUNG CANCER CHALLENGE IS VAST

                                                               Survival of Lung cancer is amongst
                         228,0001                                   the lowest of all cancers
                     New Lung cancer
                       cases / year
                                                                     Male                             Female
                                                                    10%                               13%
                            143,0001                                survival                          survival

            Lung cancer deaths/ yr
            More than breast, colon,
             and prostate cancer
                  combined                                  5 yr survival estimates among adults diagnosed with
                                                                      lung cancer between 2007-20112

1. American Cancer Society; Cancer facts and figures 2019                                                         68
2. Office for National Statistics UK (www.ons.gov.uk)
   EXON 20 INSERTIONS ARE A RARE SUBSET OF EGFR MUTANT NSCLC
                                               Non-Sq NSCLC                                                                                              EGFR Exon 20 insertions
                                              200,000 pts/yr1                                                                                                2,000 pts/yr2
                                                                                          EGFR Sensitizing Mutations 19.4%
                                    No Mutations 1.2%
                                                                                              EGFR exon18 4%
                           UMD 12.0%                                                          EGFR exon19 45%
                                                                                              EGFR exon21 41%

      Other Drivers 2.9%
                                                                                                                                                              Insertion variants
      PTEN loss 0.7%
   CDKN2A loss 1.9%
BRAF nonV600E 1.3%
                                                                EGFR 28%                                                                            1.     V769_D770insASV                 (≈20%)
       NF1 loss 1.9%                                                                                                                                2.     D770_N771insSVD (≈19%)
                                                                                                      EGFR T790M 5.5%
                                                                                                                                                    3.     H773_V774insH                    (≈8%)
                                                                                                       EGFR exon20 2.1%                             4.     A763_Y764insFQEA                 (≈7%)

                           KRAS 25.3%                                                                 EGFR WT Amp 1.0%                              5.     H773_v774insPH                   (≈5%)
                                                                                                    ALK fusion 3.8%                                 6.     H773_V774insNPH                  (≈4%)
           KRAS 25.3%
                                                                                                 ROS1 fusion 2.6%                                   7.     N771_P772insN                    (≈3%)
                                                                                            RET fusion 1.7%
                                                                                                                                                    8.     H773_V774insAH                   (≈3%)
                                                                                         BRAF V600E 2.1%
                                                                                      MET splice 3.0%                                               9.     Other                          (≈31%)
                   FGFR ½ ½ 0.7%                                                 MET Amp 1.4%
                         NRAS 1.2%                                           ERBB2 Amp 1.4%
                            PIK3CA 2.0%                                   BRCA ½ loss 1.3%
                               MAP2K1 0.7%                           TSC ½ loss 0.7%
                                                  ERBB2 Mut 2.3%

Sources: Leduc C et al., Ann Oncol 2017; Jorge S et al. Braz J Med Biol Res 2014; Kobayashi Y & Mitsudomi                    1.   Estimated US annual incidence of non-squamous NSCLC                    69
T. Cancer Sci 2016; Arcila M et al. Mol Cancer Ther 2013; Oxnard G et al. J Thorac Oncol 2013                                2.   Represents annual incidence of the US addressable patient population
     PATIENTS WITH EGFR EXON 20 INSERTIONS HAVE NO EFFECTIVE THERAPY

                                                               POOR RESPONSE TO EXISTING TKIs 1                          POOR RESPONSE TO ANTI PD-1/PDL-1 THERAPY 2

                                                               EGFR exon 20 insertions do not demonstrate                                                 EGFR exon 20 ins patients demonstrate limited
                                                           significant PFS benefit with 1st and 2nd gen EGFR TKIs                                             benefit to anti PD-1 directed therapy

                                                 100                                                                                                    100%
                                                                                                                                                                 Classic EGFR EGFR exon 20
                                                                                                                                                        80%
                                                 80
                 Progression-free survival (%)




                                                                                                                    Best change in target lesions (%)
                                                                                                                                                        60%
                                                 60                           Hazard ratio
                                                                                                                                                        40%
                                                                           = 12.3 (p<0.0001)
                                                 40                                                                                                     20%

                                                                                                                                                         0%
                                                 20
                                                                                                                                                        -20%
                                                   0
                                                                10           20         30           40      50                                         -40%
                                                                              Time (months)
                                                                                                                                                        -60%                Individual patient responses




                                                   Group                            Median PFS (months)                                                  Group            Median PFS (months)              PDL-1 expression ≥1%

                                                       EGFR exon 20 ins (n=9)                 2.0                   EGFR exon 20 ins (n=20)                                       2.7 (1.7-3.8)                   40%
                                                       Classical EGFR mut (n=129)             12.0                  Classical EGFR mut (n=22)                                     1.8 (1.2-2.4)                   25%


1.   Robichaux et al., WCLC 2016.                                                                                                                                                                                                 70
2.   Adapted from Negrao et al., WCLC 2019
  OVERCOMING THE DRUG DEVELOPMENT CHALLENGE
  IN EXON 20 INSERTIONS

                EGFR exon 20 NPG insertion                                                              L858R EGFR mutation
                Wild type EGFR                                                                          Wild type EGFR                       Classical EGFR
                                                                                                                                                mutation
                                                                                                                                                 L858R




                                                                                                                     TAK-788
                                                      TAK-788




                                                                        EGFR exon 20 insertion
                                                                         EGFR D770 ins NPG


                                    EGFR exon 20 insertion mutations                                                  Classical EGFR mutations
                              have a similar structure and similar affinity for                             Significantly alter both structure and affinity
                                          ATP to wild type EGFR                                                 for ATP compared to wild type EGFR            71

Source. TAK-788 bound to EGFR kinase domain containing D770 ins NPG, crystal structure (data on file)
   TAK-788 PROOF OF CONCEPT DATA IN EGFR EXON 20 INSERTIONS


                                                                      • Confirmed ORR: 12/28 patients: 43% (24.5-62.8%)                                      •   Median PFS: 7.3 months (4.4 mo - NR)



                                                          ANTITUMOR ACTIVITY IN EGFR EXON 20 INS AT 160 MG DAILY                                                     SAFETY SUMMARY IN PATIENTS TREATED WITH TAK-788



                                                                                                                                                                                                                       All Patients
                                             80                                                                                                                                       N (%)
                                                                                                                                                                                                                     160 mg qd (n=72)
       Best change in target lesions (%)




                                             60
                                             40                                                                                                                                           Treatment-related AE
                                             20
                                              0                                                                                                                           Any grade                                         68 (94)
                                            -20                                                                                                                           Grade ≥3                                          29 (40)
                                            -40
                                            -60                                                                                                                       Dose reduction due to AE                              18 (25)
                                            -80                                                                                                                       Dose interruption due to AE                           36 (50)
                                           -100
                                                                                                                                                                      Discontinuation due to treatment-
                                                                                      Individual patient responses                                                                                                          10 (14)
                                                                                                                                                                      related AE
    Prior TKI:                                    N   N   N   N   Y   N   N   N   N     N   N    N    Y    N    N    N   N   N   N   N   N   N   Y   Y   N


    Prior IO:                                     N   Y   Y   N   Y   N   N   N   N     Y    Y   N    Y    Y    N    Y   Y   Y   N   N   Y   N   Y   Y   Y




TAK-788 has not been approved for the use or indications under investigation in the clinical trials (and there is no guarantee it will be approved for such use or indication). Claims of safety and effectiveness can only be
made after regulatory review of the data and approval of the labeled claims.                                                                                                                                                            72
Adapted from Riley et al. ASCO. 2019
 ENCOURAGING EFFICACY AND SAFETY HAS BEEN OBSERVED
 WITH TAK-788

                                                                                                    Select signs of efficacy

                   Clinical feature                                TAK-788 1                                       Poziotinib 2                                         Afatinib 3   Osimertinib 4
                                                                     n=28                                             n=50                                                n=23           n=15
     ITT confirmed ORR (%)                                              43%                                               NR                                               8.7%           0%

     Evaluable confirmed ORR (%)                                        NR                                               43%                                                 NR           NR

     ITT median PFS (months)                                            7.3                                               5.5                                                2.7          3.5

                                               Select treatment related adverse events attributable to wild type EGFR inhibition

           Grade ≥ 3 Adverse event                                 TAK-788 1                                       Poziotinib 2                                         Afatinib 5   Osimertinib 6