Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sumitomo-pharma-co" target="_blank" data-smartkarma-citation="entities:1935:1" rel="noopener">Sumitomo Pharma (4506 JP)</a> revised revenue guidance upward by ¥74B to ¥429B on the back of continued strong sales in North America (up 56% YoY to ¥163B).</li>
<li>Orgovyx (revenue jumped 95% YoY to ¥69B) witnessed solid patient growth in medicare patients while Gemtesa (revenue rose 72% to ¥43B) improved market share.</li>
<li>The revised profit numbers implies that the company expects the SG&amp;A and R&amp;D cost to be on the rise H2FY26 onwards leading a net loss in the second half.</li>
</ul>



Sumitomo Pharma (4506 JP) revised revenue guidance upward by ¥74B to ¥429B on the back of continued strong sales in North America (up 56% YoY to ¥163B).
Orgovyx (revenue jumped 95% YoY to ¥69B) witnessed solid patient growth in medicare patients while Gemtesa (revenue rose 72% to ¥43B) improved market share.
The revised profit numbers implies that the company expects the SG&amp;A and R&amp;D cost to be on the rise H2FY26 onwards leading a net loss in the second half.


Sumitomo Pharma (4506 JP): Guidance See Upward Revision as Orgovyx, Gemtesa Gain Momentum in H1FY26

Thematic (Sector/Industry)

<ul>
<li>Takeda has dropped AstraZeneca-partnered antibody drug candidate from its pipeline. Eisai and Merck are closing late-stage trial of Lenvima plus Keytruda in hepatocellular carcinoma on disappointing result.</li>
<li>Wuxi AppTec sharpens CRDMO business by selling its China-based clinical research subsidiaries. FDA has designated Celltrion’s Stoboclo and Osenvelt as interchangeable biosimilars to the reference products Prolia and Xgeva, respectively.</li>
<li>CSL is delaying demerger of CSL Seqirus ‘to maximise shareholder value.’ PharmaEssentia has filed for the additional indication of Besremi for Essential Thrombocythemia (ET) with the FDA.</li>
</ul>


Takeda has dropped AstraZeneca-partnered antibody drug candidate from its pipeline. Eisai and Merck are closing late-stage trial of Lenvima plus Keytruda in hepatocellular carcinoma on disappointing result.
Wuxi AppTec sharpens CRDMO business by selling its China-based clinical research subsidiaries. FDA has designated Celltrion’s Stoboclo and Osenvelt as interchangeable biosimilars to the reference products Prolia and Xgeva, respectively.
CSL is delaying demerger of CSL Seqirus ‘to maximise shareholder value.’ PharmaEssentia has filed for the additional indication of Besremi for Essential Thrombocythemia (ET) with the FDA.


APAC Healthcare Weekly (November 2) – Takeda, Eisai, Wuxi AppTec, Celltrion, CSL, PharmaEssentia

<ul>
<li>During H1FY26, <a href="https://www.smartkarma.com/entities/shionogi-co-ltd" target="_blank" data-smartkarma-citation="entities:19535:1" rel="noopener">Shionogi &amp; Co (4507 JP)</a> maintained revenue, operating profit, and net profit at the same level as previous year. None of the key parameters achieved their respective targets.</li>
<li>Better-Than-Expected contribution from Torii, additional revenue generation from Quviviq, double-digit revenue growth of cefiderocol in the U.S. and EU, and stable growth in HIV royalty drove overall performance.</li>
<li>Shionogi has reduced FY26 revenue guidance (due to weak prescription drug sales) and raised operating and net profit guidance, driven by strong growth in royalty income and cost optimization initiatives.</li>
</ul>


During H1FY26, Shionogi &amp; Co (4507 JP) maintained revenue, operating profit, and net profit at the same level as previous year. None of the key parameters achieved their respective targets.
Better-Than-Expected contribution from Torii, additional revenue generation from Quviviq, double-digit revenue growth of cefiderocol in the U.S. and EU, and stable growth in HIV royalty drove overall performance.
Shionogi has reduced FY26 revenue guidance (due to weak prescription drug sales) and raised operating and net profit guidance, driven by strong growth in royalty income and cost optimization initiatives.


Shionogi & Co (4507 JP): Muted 1H Result; Solid HIV Business Leads FY Profit Guidance Raise

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chugai-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:4489:1" rel="noopener">Chugai Pharmaceutical (4519 JP)</a> reported flat Hemlibra sales in 9M25 overcoming shipment issues. Higher volumes boosted Actemra revenue (up 27% YoY) amid declining in export unit price.</li>
<li>2025 guidance reiterated. Satisfactory progress after 9M25 with major line-items achieving 76-81% of full year guidance. Management expects to beat the export forecast in case of both Hemlibra and Actemra.</li>
<li>Strong progress of out-licensed products (nemluvio and orforglipron) with high sales potential will help drive growth in the short to medium term.</li>
</ul>



Chugai Pharmaceutical (4519 JP) reported flat Hemlibra sales in 9M25 overcoming shipment issues. Higher volumes boosted Actemra revenue (up 27% YoY) amid declining in export unit price.
2025 guidance reiterated. Satisfactory progress after 9M25 with major line-items achieving 76-81% of full year guidance. Management expects to beat the export forecast in case of both Hemlibra and Actemra.
Strong progress of out-licensed products (nemluvio and orforglipron) with high sales potential will help drive growth in the short to medium term.


Chugai Pharma (4519 JP): Hemlibra Steady, Actemra Shine, Outlicensed Drug and New Launches Key

<ul>
<li>Innovent Biologics announced strategic global collaboration with Takeda for total deal value of $11.4B. Akeso announced that phase 3 trial evaluating ivonescimab versus tislelizumab in sq-NSCLC met primary endpoint.</li>
<li>Celltrion received FDA approval for two additional pediatric indications for Humira biosimilar, Yuflyma. Classys plans to acquire 77.5% stake in JL Health, South American energy-based aesthetic medical device distribution group. </li>
<li>Syngene plans to add a bioconjugation suite at its commercial biologics facility. Cipla and Eli Lilly agreed to distribute and promote tirzepatide in India under a second brand name, Yurpeak.</li>
</ul>


Innovent Biologics announced strategic global collaboration with Takeda for total deal value of $11.4B. Akeso announced that phase 3 trial evaluating ivonescimab versus tislelizumab in sq-NSCLC met primary endpoint.
Celltrion received FDA approval for two additional pediatric indications for Humira biosimilar, Yuflyma. Classys plans to acquire 77.5% stake in JL Health, South American energy-based aesthetic medical device distribution group. 
Syngene plans to add a bioconjugation suite at its commercial biologics facility. Cipla and Eli Lilly agreed to distribute and promote tirzepatide in India under a second brand name, Yurpeak.


APAC Healthcare Weekly (October 26) – Innovent, Akeso, Celltrion, Classys, Daiichi, Syngene, Cipla

Japan

Astellas Pharma Inc. is a pharmaceutical company committed to the therapeutic fields of Urology, Immunology including Transplantation and Infectious Diseases, Oncology, Neuroscience and DM Complications and Metabolic Diseases. With over 17,000 global employees, Astellas researches, develops, manufactures, and promotes its prescription drugs through subsidiaries in the US, Europe, and Asia

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Astellas Pharma (4503 JP)

Sumitomo Pharma (4506 JP): Guidance See Upward Revision as Orgovyx, Gemtesa Gain Momentum in H1FY26

Sumitomo Pharma raises revenue guidance due to strong sales in North America. Orgovyx and Gemtesa keep up momentum. Profits will take some time to...

Tina Banerjee

APAC Healthcare Weekly (November 2) – Takeda, Eisai, Wuxi AppTec, Celltrion, CSL, PharmaEssentia

Takeda and Eisai witnessed clinical trials setback. Wuxi AppTec is selling China-based CRO subsidiaries. CSL is delaying demerger of CSL Seqirus....

Tina Banerjee

Shionogi & Co (4507 JP): Muted 1H Result; Solid HIV Business Leads FY Profit Guidance Raise

Shionogi reported flat revenue and profits in H1FY26, missing targets. The company has lowered FY26 revenue guidance, but raised operating and net...

Tina Banerjee

Chugai Pharma (4519 JP): Hemlibra Steady, Actemra Shine, Outlicensed Drug and New Launches Key

Chugai Pharmaceutical (4519 JP) sees flat Hemlibra sales, higher Actemra revenue amid competition in 9M25. Strong progress in out-licensed...

Tina Banerjee

APAC Healthcare Weekly (October 26) – Innovent, Akeso, Celltrion, Classys, Daiichi, Syngene, Cipla

Innovent Biologics announced collaboration with Takeda. FDA approves two additional indications for Celltrion's Humira biosimilar. Syngene is...

Tina Banerjee

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Sumitomo Pharma (4506 JP): Guidance See Upward Revision as Orgovyx, Gemtesa Gain Momentum in H1FY26

​Sumitomo Pharma raises revenue guidance due to strong sales in North America. Orgovyx and Gemtesa keep up momentum. Profits will take some time to...

Tina Banerjee

APAC Healthcare Weekly (November 2) – Takeda, Eisai, Wuxi AppTec, Celltrion, CSL, PharmaEssentia

Takeda and Eisai witnessed clinical trials setback. Wuxi AppTec is selling China-based CRO subsidiaries. CSL is delaying demerger of CSL Seqirus....

Tina Banerjee

Shionogi & Co (4507 JP): Muted 1H Result; Solid HIV Business Leads FY Profit Guidance Raise

​Shionogi reported flat revenue and profits in H1FY26, missing targets. The company has lowered FY26 revenue guidance, but raised operating and net...

Tina Banerjee

Chugai Pharma (4519 JP): Hemlibra Steady, Actemra Shine, Outlicensed Drug and New Launches Key

​Chugai Pharmaceutical (4519 JP) sees flat Hemlibra sales, higher Actemra revenue amid competition in 9M25. Strong progress in out-licensed...

Tina Banerjee

APAC Healthcare Weekly (October 26) – Innovent, Akeso, Celltrion, Classys, Daiichi, Syngene, Cipla

Innovent Biologics announced collaboration with Takeda. FDA approves two additional indications for Celltrion's Humira biosimilar. Syngene is...

Tina Banerjee

Sumitomo Pharma raises revenue guidance due to strong sales in North America. Orgovyx and Gemtesa keep up momentum. Profits will take some time to...

Shionogi reported flat revenue and profits in H1FY26, missing targets. The company has lowered FY26 revenue guidance, but raised operating and net...

Chugai Pharmaceutical (4519 JP) sees flat Hemlibra sales, higher Actemra revenue amid competition in 9M25. Strong progress in out-licensed...