Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/astellas-pharma-inc" target="_blank" data-smartkarma-citation="entities:6091:1" rel="noopener">Astellas Pharma (4503 JP)</a> reported 7% revenue growth in Q1FY26. Strategic brands grew 49% and contributed 22% of revenue. Driven by cost optimization, core operating profit increased 61%.</li>
<li>Astellas reiterated FY26 guidance of 1% revenue growth and 5% core operating profit increase. Q1FY26 progress enhance conviction on comfortably meet FY26 guidance.</li>
<li>With no near-term new launches anticipated for Astellas, performance of the strategic brands in existing markets as well as their indication and geography expansions should be the key drivers.</li>
</ul>



Astellas Pharma (4503 JP) reported 7% revenue growth in Q1FY26. Strategic brands grew 49% and contributed 22% of revenue. Driven by cost optimization, core operating profit increased 61%.
Astellas reiterated FY26 guidance of 1% revenue growth and 5% core operating profit increase. Q1FY26 progress enhance conviction on comfortably meet FY26 guidance.
With no near-term new launches anticipated for Astellas, performance of the strategic brands in existing markets as well as their indication and geography expansions should be the key drivers.


Astellas Pharma (4503 JP): Strategic Brands Drive Q1 Result; Positive Momentum to Continue

Thematic (Sector/Industry)

<ul>
<li>Sino Biopharmaceutical initiated Phase 1 trial for innovative drug candidate TQB6411 targeting advanced malignant tumors in China. Wuxi Biologics announced that five manufacturing facilities passed the Pre-License Inspection by FDA.</li>
<li>FDA drug advisory committee voted against Otsuka’s indication expansion application for Rexulti. Telix Pharmaceutical received a subpoena from the SEC regarding the development of prostate cancer therapeutic candidates. </li>
<li>Lupin received FDA approval for generic versions of Liraglutide and Glucagon injections. Sun Pharmaceutical announced positive top-line results from two Phase 3 trials of Ilumya in active psoriatic arthritis.</li>
</ul>


Sino Biopharmaceutical initiated Phase 1 trial for innovative drug candidate TQB6411 targeting advanced malignant tumors in China. Wuxi Biologics announced that five manufacturing facilities passed the Pre-License Inspection by FDA.
FDA drug advisory committee voted against Otsuka’s indication expansion application for Rexulti. Telix Pharmaceutical received a subpoena from the SEC regarding the development of prostate cancer therapeutic candidates. 
Lupin received FDA approval for generic versions of Liraglutide and Glucagon injections. Sun Pharmaceutical announced positive top-line results from two Phase 3 trials of Ilumya in active psoriatic arthritis.


APAC Healthcare Weekly (July 27) – Sino Bio, Wuxi Bio, Otsuka, Telix, Lupin, Sun Pharma

<ul>
<li>Shanghai Henlius Biotech initiated Phase 3 U.S. clinical trial for HLX22 for gastroesophageal junction and gastric cancer. CanSino Biologics obtained clinical trial approval in China for polio vaccine.</li>
<li>FDA rejected Nippon Shinyaku’s new drug application for CAP-1002 for DMD. JCR Pharmaceuticals announced license agreement with Acumen Pharmaceuticals to develop Alzheimer’s disease drug using JCR’s BBB -penetrating technology platform.</li>
<li>Mesoblast recorded $13.2M revenue from Ryoncil post-launch March 28 through June 30. Sun Pharma launched Leqselvi in the U.S. for the treatment of adults with severe alopecia areata.</li>
</ul>


Shanghai Henlius Biotech initiated Phase 3 U.S. clinical trial for HLX22 for gastroesophageal junction and gastric cancer. CanSino Biologics obtained clinical trial approval in China for polio vaccine.
FDA rejected Nippon Shinyaku’s new drug application for CAP-1002 for DMD. JCR Pharmaceuticals announced license agreement with Acumen Pharmaceuticals to develop Alzheimer’s disease drug using JCR’s BBB -penetrating technology platform.
Mesoblast recorded $13.2M revenue from Ryoncil post-launch March 28 through June 30. Sun Pharma launched Leqselvi in the U.S. for the treatment of adults with severe alopecia areata.


APAC Healthcare Weekly (July 20) – Henlius Bio, CanSino, Nippon Shinyaku, JCR, Mesoblast, Sun Pharma

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>Cautious ASML guidance sets dour tone to start but weakness for semi's limited.</li>
<li>JNJ beats handily thanks to FX and medtech which should cause pharma and likes of Terumo to squeeze off the bell.</li>
<li>7&amp;I likely to be weak to start but unlikely there was too much residual expectation priced in after a difficult road for CT.</li>
</ul>


Cautious ASML guidance sets dour tone to start but weakness for semi's limited.
JNJ beats handily thanks to FX and medtech which should cause pharma and likes of Terumo to squeeze off the bell.
7&amp;I likely to be weak to start but unlikely there was too much residual expectation priced in after a difficult road for CT.


Japan Morning Connection: Couche-Tard Sounds the Retreat on Its Advances for 7&I

<ul>
<li>
<a href="https://www.smartkarma.com/entities/astellas-pharma-inc" target="_blank" data-smartkarma-citation="entities:6091:1" rel="noopener">Astellas Pharma (4503 JP)</a> announced that in Q1FY26 the sales of their drug Izervay (avacincaptad pegol intravitreal solution) in the U.S. market will be ¥15.9B (~$110M, up 25% YoY).</li>
<li>Strategic brands (Padcev, Izervay, Veozah, Vyloy, and Xospata) revenue expanded to ¥336B (+¥176B or +110% YoY) in FY25, representing 18% of the total revenue.</li>
<li>Astellas agreement with Evopoint Biosciences for a novel investigational clinical-stage antibody-drug conjugate (ADC) targeting CLDN18.2, will help expand its pipeline and augurs well given its expertise in similar therapies (Vyloy).</li>
</ul>



Astellas Pharma (4503 JP) announced that in Q1FY26 the sales of their drug Izervay (avacincaptad pegol intravitreal solution) in the U.S. market will be ¥15.9B (~$110M, up 25% YoY).
Strategic brands (Padcev, Izervay, Veozah, Vyloy, and Xospata) revenue expanded to ¥336B (+¥176B or +110% YoY) in FY25, representing 18% of the total revenue.
Astellas agreement with Evopoint Biosciences for a novel investigational clinical-stage antibody-drug conjugate (ADC) targeting CLDN18.2, will help expand its pipeline and augurs well given its expertise in similar therapies (Vyloy).


Astellas Pharma (4503 JP): Izervay on Strong Footing, Strategic Brands Key for Future

Japan

Otsuka Holdings Co Ltd is a pharmaceutical company. The Company manufactures, sells, imports and exports pharmaceutical products, clinical testing, and medical equipment for intractable diseases.

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Otsuka Holdings (4578 JT)

Astellas Pharma (4503 JP): Strategic Brands Drive Q1 Result; Positive Momentum to Continue

Astellas Pharma sees 7% sales growth in Q1FY26, with strategic brands growing 49%. The company reiterates FY26 guidance. Strategic brands'...

Tina Banerjee

APAC Healthcare Weekly (July 27) – Sino Bio, Wuxi Bio, Otsuka, Telix, Lupin, Sun Pharma

Wuxi Bio’s manufacturing facilities passed FDA inspection. Otsuka’s label expansion plan for Rexulti is in jeopardy. Telix got SEC subpoena. Lupin...

Tina Banerjee

APAC Healthcare Weekly (July 20) – Henlius Bio, CanSino, Nippon Shinyaku, JCR, Mesoblast, Sun Pharma

Henlius Bio initiates P3 U.S. trial for cancer drug. FDA rejected Nippon Shinyaku’s new drug filing. JCR partners with Acumen to develop...

Tina Banerjee

Japan Morning Connection: Couche-Tard Sounds the Retreat on Its Advances for 7&I

ASML guidance sets dour tone but market may have seen through the cautiousness, JNJ beats sending pharma higher giving some JP names a potential...

Andrew Jackson

Astellas Pharma (4503 JP): Izervay on Strong Footing, Strategic Brands Key for Future

Astellas sees 25% growth in Q1FY26 sales of Izervay in the U.S. In FY25, revenue from strategic brands improved 110% YoY. Izervay Q1FY26 revenue...

Tina Banerjee

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52-week Range

Market Cap (USDm)

P/E

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Astellas Pharma (4503 JP): Strategic Brands Drive Q1 Result; Positive Momentum to Continue

​Astellas Pharma sees 7% sales growth in Q1FY26, with strategic brands growing 49%. The company reiterates FY26 guidance. Strategic brands'...

Tina Banerjee

APAC Healthcare Weekly (July 27) – Sino Bio, Wuxi Bio, Otsuka, Telix, Lupin, Sun Pharma

Wuxi Bio’s manufacturing facilities passed FDA inspection. Otsuka’s label expansion plan for Rexulti is in jeopardy. Telix got SEC subpoena. Lupin...

Tina Banerjee

APAC Healthcare Weekly (July 20) – Henlius Bio, CanSino, Nippon Shinyaku, JCR, Mesoblast, Sun Pharma

Henlius Bio initiates P3 U.S. trial for cancer drug. FDA rejected Nippon Shinyaku’s new drug filing. JCR partners with Acumen to develop...

Tina Banerjee

Japan Morning Connection: Couche-Tard Sounds the Retreat on Its Advances for 7&I

​ASML guidance sets dour tone but market may have seen through the cautiousness, JNJ beats sending pharma higher giving some JP names a potential...

Andrew Jackson

Astellas Pharma (4503 JP): Izervay on Strong Footing, Strategic Brands Key for Future

​Astellas sees 25% growth in Q1FY26 sales of Izervay in the U.S. In FY25, revenue from strategic brands improved 110% YoY. Izervay Q1FY26 revenue...

Tina Banerjee

Astellas Pharma sees 7% sales growth in Q1FY26, with strategic brands growing 49%. The company reiterates FY26 guidance. Strategic brands'...

ASML guidance sets dour tone but market may have seen through the cautiousness, JNJ beats sending pharma higher giving some JP names a potential...

Astellas sees 25% growth in Q1FY26 sales of Izervay in the U.S. In FY25, revenue from strategic brands improved 110% YoY. Izervay Q1FY26 revenue...