Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Sino Biopharmaceutical’s NDA for bispecific ADC, TQB2102, has been accepted by NMPA for breast cancer. CHMP recommended approval of Impact Therapeutics’ Sepalna for epithelial ovarian, fallopian tube, and peritoneal cancers.</li>
<li>FDA granted priority review to Takeda’s zasocitinib for moderate-to-severe plaque psoriasis. Daiichi Sankyo announced positive results from the Phase 3 trial evaluating Enhertu as a first-line treatment of NSCLC.</li>
<li>SK Biopharmaceuticals has signed a license and equity investment agreement with 1ST Biotherapeutics to secure global exclusive development and commercialization rights for a new drug candidate for Parkinson's disease.</li>
</ul>


Sino Biopharmaceutical’s NDA for bispecific ADC, TQB2102, has been accepted by NMPA for breast cancer. CHMP recommended approval of Impact Therapeutics’ Sepalna for epithelial ovarian, fallopian tube, and peritoneal cancers.
FDA granted priority review to Takeda’s zasocitinib for moderate-to-severe plaque psoriasis. Daiichi Sankyo announced positive results from the Phase 3 trial evaluating Enhertu as a first-line treatment of NSCLC.
SK Biopharmaceuticals has signed a license and equity investment agreement with 1ST Biotherapeutics to secure global exclusive development and commercialization rights for a new drug candidate for Parkinson's disease.


APAC Healthcare Weekly (Sept 20) –Sino Bio, Impact Therapeutics, Takeda, Daiichi Sankyo, SK Biopharm

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/takeda-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:11747:1" rel="noopener">Takeda Pharmaceutical (4502 JP)</a> reported FY26 revenue of ¥4505.6B, down 2%, primarily attributable to lower sales of Vyvanse, due to continued impact of generic erosion because of loss of exclusivity.</li>
<li>Takeda announced FY27 guidance expecting revenue to be ¥4640B (up 3% YoY) driven by new launches and core in-line brands. Operating profit and net profit both are expected to rise.</li>
<li>Sustained and stable performance of its Growth and Launch product portfolio, ripe late-stage pipeline augur well for long term growth prospects.</li>
</ul>



Takeda Pharmaceutical (4502 JP) reported FY26 revenue of ¥4505.6B, down 2%, primarily attributable to lower sales of Vyvanse, due to continued impact of generic erosion because of loss of exclusivity.
Takeda announced FY27 guidance expecting revenue to be ¥4640B (up 3% YoY) driven by new launches and core in-line brands. Operating profit and net profit both are expected to rise.
Sustained and stable performance of its Growth and Launch product portfolio, ripe late-stage pipeline augur well for long term growth prospects.


Takeda Pharmaceutical: Looking Forward To Pending Approvals and Late Stage Pipeline in FY27

<ul>
<li>CSPC Pharmaceutical’s SYS6010 met primary endpoint in Phase 3 study as a monotherapy for NSCLC. Akeso’s ivonescimab demonstrates significant overall survival in Phase 3 trial for advanced biliary tract cancer.</li>
<li>Takeda Pharma secured FDA approval for Mimrylo (rusfertide) for the treatment of erythrocytosis in adults with polycythemia vera. Astellas Pharma initiates global Phase 3 study evaluating ASP2138 for gastric cancers.</li>
<li>Hanmi Pharm outlicenses obesity drug candidate HM1732 to Genentech for a total deal value of $2.3B. SK Biopharmaceuticals entered an agreement to in-license opakalim, an investigational antiseizure medication, from Biohaven.</li>
</ul>


CSPC Pharmaceutical’s SYS6010 met primary endpoint in Phase 3 study as a monotherapy for NSCLC. Akeso’s ivonescimab demonstrates significant overall survival in Phase 3 trial for advanced biliary tract cancer.
Takeda Pharma secured FDA approval for Mimrylo (rusfertide) for the treatment of erythrocytosis in adults with polycythemia vera. Astellas Pharma initiates global Phase 3 study evaluating ASP2138 for gastric cancers.
Hanmi Pharm outlicenses obesity drug candidate HM1732 to Genentech for a total deal value of $2.3B. SK Biopharmaceuticals entered an agreement to in-license opakalim, an investigational antiseizure medication, from Biohaven.


APAC Healthcare Weekly (August 30)– CSPC Pharma, Akeso, Takeda, Astellas, Hanmi Pharm, SK Biopharma

<ul>
<li>
<a href="https://www.smartkarma.com/entities/takeda-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:11747:1" rel="noopener">Takeda Pharmaceutical (4502 JP)</a> has announced 9MFY26 result, with revenue declining 3% YoY to ¥3,411B, dragged by Vyvanse. Growth and launch products revenue grew 7%, with improving QoQ growth rate.</li>
<li>The company raised its full-year forecasts based on cost discipline and FX tailwind, while its revenue management guidance has been updated primarily due to the impact of Vyvanse generics.</li>
<li>Takeda has multiple late-stage programs with multibillion-dollar peak revenue potential. The company is poised to launch three drugs in the next 18 months, setting it on a new growth trajectory.</li>
</ul>



Takeda Pharmaceutical (4502 JP) has announced 9MFY26 result, with revenue declining 3% YoY to ¥3,411B, dragged by Vyvanse. Growth and launch products revenue grew 7%, with improving QoQ growth rate.
The company raised its full-year forecasts based on cost discipline and FX tailwind, while its revenue management guidance has been updated primarily due to the impact of Vyvanse generics.
Takeda has multiple late-stage programs with multibillion-dollar peak revenue potential. The company is poised to launch three drugs in the next 18 months, setting it on a new growth trajectory.


Takeda Pharmaceutical (4502 JP): Decent 9MFY26 Show; Guidance Revision Amid New Leg of Growth

Healthcare Equity Analyst - Emerging & Dev Markets, daaimon

Avien Pillay

Healthcare Equity Analyst - Emerging & Dev Markets

daaimon

daaimon is an independent research company focusing on healthcare and consumer sectors across developed and emerging markets. We produce insightful research which challenges conventional thinking. In particular, we look for new ideas by testing consensus forecasts and markets expectations.

<ul>
<li>After sidewards movement over the last 18 months, the counter has outperformed over the last few weeks.</li>
<li>There have been some positive developments regarding trials and partnerships, however, there are still various concerns regarding their existing portfolio and pipeline.</li>
<li>Takeda is still trading at a high absolute and relative valuation, and given its poor track record, we don’t believe the premium can be justified.</li>
</ul>


After sidewards movement over the last 18 months, the counter has outperformed over the last few weeks.
There have been some positive developments regarding trials and partnerships, however, there are still various concerns regarding their existing portfolio and pipeline.
Takeda is still trading at a high absolute and relative valuation, and given its poor track record, we don’t believe the premium can be justified.


Takeda (4502 JP) 2026 Update – We Maintain Our Bearish View!

Japan

Takeda Pharmaceutical Co Ltd focuses on the Research & Development, Manufacturing, Sales and Marketing and Import/Export of Pharmaceutical Drugs. The Company focuses on the following core therapeutic areas: Cardiovascular & Metabolic, Oncology, Central Nervous System, Respiratory & Immunology, General Medicine (Gastrointestinal & Genitourinary) and Vaccine.

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Takeda Pharmaceutical (4502 JP)

APAC Healthcare Weekly (Sept 20) –Sino Bio, Impact Therapeutics, Takeda, Daiichi Sankyo, SK Biopharm

NMPA accepted Sino Bio’s NDA for bispecific ADC drug candidate. FDA granted priority review to Takeda’s zasocitinib for moderate-to-severe plaque...

Tina Banerjee

Takeda Pharmaceutical: Looking Forward To Pending Approvals and Late Stage Pipeline in FY27

Takeda Pharmaceutical reported lower FY26 revenue due to generic erosion, but expects growth in FY27 driven by new launches and core brands, with...

Tina Banerjee

APAC Healthcare Weekly (August 30)– CSPC Pharma, Akeso, Takeda, Astellas, Hanmi Pharm, SK Biopharma

CSPC and Akeso announced positive results from their respective Phase 3 trials for cancer drug candidates. Takeda got FDA approval for blood cancer...

Tina Banerjee