Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Hisamitsu Pharmaceutical Co / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical Co (4530 JP)</a> has reported double-digit revenue and net profit growth in Q3FY24, mainly driven by 21% YoY growth in Salonpas focused OTC pharmaceutical products.</li>
<li>The company attributes OTC product revenue growth to aggressive sales promotion activities in Japan and overseas, recovery of domestic economic activity and inbound demand, and impact of the weaker yen.</li>
<li>Encouraged by Salonpas revenue recovery, Hisamitsu has raised FY24 guidance. The company has revised FY24 revenue guidance upward by 7% to ¥141 billion (up 10% YoY) from ¥132 billion.</li>
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Hisamitsu Pharmaceutical Co (4530 JP) has reported double-digit revenue and net profit growth in Q3FY24, mainly driven by 21% YoY growth in Salonpas focused OTC pharmaceutical products.
The company attributes OTC product revenue growth to aggressive sales promotion activities in Japan and overseas, recovery of domestic economic activity and inbound demand, and impact of the weaker yen.
Encouraged by Salonpas revenue recovery, Hisamitsu has raised FY24 guidance. The company has revised FY24 revenue guidance upward by 7% to ¥141 billion (up 10% YoY) from ¥132 billion.


Hisamitsu Pharmaceutical (4530 JP): OTC Business Is on Strong Footing; FY24 Guidance Raise

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<a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical Co (4530 JP)</a> announced strong Q1FY24 result, with double-digit top-line and triple-digit bottom-line growth, driven by its largest selling OTC product, Salonpas. The company has reiterated FY24 guidance.</li>
<li>In Q1FY24, Hisamitsu has launched Apohide Lotion in Japan for the treatment of primary palmar hyperhidrosis and Xelstrym transdermal system in the U.S. for the treatment of Attention-Deficit/Hyperactivity Disorder (ADHD).</li>
<li>Hisamitsu has announced buyback of up to 2M of its shares (representing 2.57% of issued shares) from July 2023 to February 2024 for ¥10B.</li>
</ul>



Hisamitsu Pharmaceutical Co (4530 JP) announced strong Q1FY24 result, with double-digit top-line and triple-digit bottom-line growth, driven by its largest selling OTC product, Salonpas. The company has reiterated FY24 guidance.
In Q1FY24, Hisamitsu has launched Apohide Lotion in Japan for the treatment of primary palmar hyperhidrosis and Xelstrym transdermal system in the U.S. for the treatment of Attention-Deficit/Hyperactivity Disorder (ADHD).
Hisamitsu has announced buyback of up to 2M of its shares (representing 2.57% of issued shares) from July 2023 to February 2024 for ¥10B.


Hisamitsu Pharmaceutical (4530 JP): Strong Result, New Drug Launch, & Share Buyback Brighten Outlook

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<li>
<a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical Co (4530 JP)</a> announced mixed Q2FY24 result, with single-digit revenue growth and bottom-line decline. Revenue grew 5% YoY to ¥34.9B, while operating profit declined 8% YoY to ¥4B.</li>
<li>Salonpas line of OTC pain relieving patches have become major growth driver of the company. In Q2FY24, Salonpas revenue increased 14% YoY, lowest growth rate reported in last five quarters.</li>
<li>Despite 70%+ progress of operating and net profits, Hisamitsu reiterated FY24 guidance. Declining margins, anticipated increase in SG&amp;A expenses, and high base call for massive fall in profit in H2FY24.</li>
</ul>



Hisamitsu Pharmaceutical Co (4530 JP) announced mixed Q2FY24 result, with single-digit revenue growth and bottom-line decline. Revenue grew 5% YoY to ¥34.9B, while operating profit declined 8% YoY to ¥4B.
Salonpas line of OTC pain relieving patches have become major growth driver of the company. In Q2FY24, Salonpas revenue increased 14% YoY, lowest growth rate reported in last five quarters.
Despite 70%+ progress of operating and net profits, Hisamitsu reiterated FY24 guidance. Declining margins, anticipated increase in SG&amp;A expenses, and high base call for massive fall in profit in H2FY24.


Hisamitsu Pharmaceutical (4530 JP): Mixed Q2FY24 Result- Some Points Worth of Paying Attention

Kobayashi Pharmaceutical Co / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/kobayashi-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:14930:1" rel="noopener">Kobayashi Pharmaceutical Co (4967 JP)</a> witnessed business revival in Q3, especially in the domestic household and the U.S. business. In Q3, revenue increased 6% YoY and 13% QoQ to ¥45.4B.</li>
<li>Kobayashi has reiterated FY24 guidance. The company has guided for FY24 revenue of ¥172.0B (+4% YoY), operating income of ¥25.5B (-4% YoY), and net profit of ¥20.2B (-1% YoY).</li>
<li>By establishing the supplement business in North America and further expanding OTC medicines, the company aims to achieve sales of ¥34B in the U.S. in 2030, including ¥16B from healthcare.</li>
</ul>



Kobayashi Pharmaceutical Co (4967 JP) witnessed business revival in Q3, especially in the domestic household and the U.S. business. In Q3, revenue increased 6% YoY and 13% QoQ to ¥45.4B.
Kobayashi has reiterated FY24 guidance. The company has guided for FY24 revenue of ¥172.0B (+4% YoY), operating income of ¥25.5B (-4% YoY), and net profit of ¥20.2B (-1% YoY).
By establishing the supplement business in North America and further expanding OTC medicines, the company aims to achieve sales of ¥34B in the U.S. in 2030, including ¥16B from healthcare.


Kobayashi Pharmaceutical Co (4967 JP): Q3 Shows Early Signs of Business Revival; Aims Big for US

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<a href="https://www.smartkarma.com/entities/nippon-shinyaku-co-ltd" target="_blank" data-smartkarma-citation="entities:6634:1" rel="noopener">Nippon Shinyaku (4516 JP)</a>'s FY24 revenue guidance is 3% below mid-term target, while operating and net profits guidance are 20% and 17% below the target, respectively.  </li>
<li>Revenue growth of Viltepso is expected to decelerate to 28% in FY24 from 85% in FY23, dragged by the U.S. sales, which contributes 74% of Viltepso revenue.</li>
<li>Rival <a href="https://www.smartkarma.com/entities/sarepta-therapeutics-inc" target="_blank" data-smartkarma-citation="entities:17729:1" rel="noopener">Sarepta Therapeutics (SRPT US)</a> is expected to receive FDA approval for its next DMD gene therapy drug this month, leading to a new competition for Viltepso.</li>
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Nippon Shinyaku (4516 JP)'s FY24 revenue guidance is 3% below mid-term target, while operating and net profits guidance are 20% and 17% below the target, respectively.  
Revenue growth of Viltepso is expected to decelerate to 28% in FY24 from 85% in FY23, dragged by the U.S. sales, which contributes 74% of Viltepso revenue.
Rival Sarepta Therapeutics (SRPT US) is expected to receive FDA approval for its next DMD gene therapy drug this month, leading to a new competition for Viltepso.


Nippon Shinyaku (4516 JP): FY24 Guidance Falls Short of Mid-Term Target; DMD Drug Growth Slows Down

Japan

HISAMITSU PHARMACEUTICAL CO., INC. produces and sells pharmaceutical products. The Company's main product is anti-inflammatory analgesic plasters and poultices sold under the brand name Salonpas.  Hisamitsu Pharmaceutical exports its products to North America and Southeast Asia.  The Company also researches and develops antibacterial products through its related company, RRF.

Hisamitsu Pharmaceutical Co (4530 JP)

Hisamitsu Pharmaceutical (4530 JP): OTC Business Is on Strong Footing; FY24 Guidance Raise

Hisamitsu reports double-digit revenue and net profit growth in Q3FY24, driven by Salonpas OTC products. FY24 revenue guidance has been raised by...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): Mixed Q2FY24 Result- Some Points Worth of Paying Attention

Hisamitsu reported mixed Q2FY24 results with single-digit sales growth and a decline in bottom-line. Salonpas revenue growth slowed down to 5...

Tina Banerjee

Kobayashi Pharmaceutical Co (4967 JP): Q3 Shows Early Signs of Business Revival; Aims Big for US

Kobayashi experienced business revival in Q3, with revenue increasing 6% YoY and 13% QoQ to ¥45.4B. The company aims to establish supplement...

Tina Banerjee

Nippon Shinyaku (4516 JP): FY24 Guidance Falls Short of Mid-Term Target; DMD Drug Growth Slows Down

Nippon Shinyaku’s FY24 revenue, operating and net profits guidance are 3%, 20%, and 17% below mid-term target, respectively. Viltepso revenue...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): OTC Business Is on Strong Footing; FY24 Guidance Raise

​Hisamitsu reports double-digit revenue and net profit growth in Q3FY24, driven by Salonpas OTC products. FY24 revenue guidance has been raised by...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): Strong Result, New Drug Launch, & Share Buyback Brighten Outlook

In Q1FY24 Hisamitsu recorded double-digit top-line and triple-digit bottom-line growth, driven by Salonpas. The company launched 2 drugs in Japan...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): Mixed Q2FY24 Result- Some Points Worth of Paying Attention

​Hisamitsu reported mixed Q2FY24 results with single-digit sales growth and a decline in bottom-line. Salonpas revenue growth slowed down to 5...

Tina Banerjee

Kobayashi Pharmaceutical Co (4967 JP): Q3 Shows Early Signs of Business Revival; Aims Big for US

​Kobayashi experienced business revival in Q3, with revenue increasing 6% YoY and 13% QoQ to ¥45.4B. The company aims to establish supplement...

Tina Banerjee

Nippon Shinyaku (4516 JP): FY24 Guidance Falls Short of Mid-Term Target; DMD Drug Growth Slows Down

Nippon Shinyaku’s FY24 revenue, operating and net profits guidance are 3%, 20%, and 17% below mid-term target, respectively. Viltepso revenue...

Tina Banerjee

Hisamitsu reports double-digit revenue and net profit growth in Q3FY24, driven by Salonpas OTC products. FY24 revenue guidance has been raised by...

Hisamitsu reported mixed Q2FY24 results with single-digit sales growth and a decline in bottom-line. Salonpas revenue growth slowed down to 5...

Kobayashi experienced business revival in Q3, with revenue increasing 6% YoY and 13% QoQ to ¥45.4B. The company aims to establish supplement...