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/santen-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:8602:1" rel="noopener">Santen Pharmaceutical (4536 JP)</a> witnessed revenue drop alongside core operating profit. Core net profit increased by 5% YoY to ¥37.6B. China recovers and overseas business grow 7.5% YoY.</li>
<li>Santen expects FY27 revenue to be at ¥311B (up 7% YoY) and core operating profit at ¥59B (up 7% YoY). Overseas businesses expected to contribute ¥166.9B (up 16% YoY).</li>
<li>FY27 is likely to be an inflection point with significant upward momentum expected FY28 onwards, with many launches lined up.</li>
</ul>



Santen Pharmaceutical (4536 JP) witnessed revenue drop alongside core operating profit. Core net profit increased by 5% YoY to ¥37.6B. China recovers and overseas business grow 7.5% YoY.
Santen expects FY27 revenue to be at ¥311B (up 7% YoY) and core operating profit at ¥59B (up 7% YoY). Overseas businesses expected to contribute ¥166.9B (up 16% YoY).
FY27 is likely to be an inflection point with significant upward momentum expected FY28 onwards, with many launches lined up.


Santen Pharma (4536 JP): China Recovery in FY26, FY27 To Be Inflection Point with Overseas and R&D

<ul>
<li>
<a href="https://www.smartkarma.com/entities/santen-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:8602:1" rel="noopener">Santen Pharmaceutical (4536 JP)</a> witnessed revenue drop alongside core operating profit and net profit decline in 9MFY26. China and Asia remain key amid overseas business increasing 3%.</li>
<li>Santen reiterated FY26 guidance where revenue is projected at ¥294B (down 2% YoY) and core operating profit at ¥54B (down 9% YoY).</li>
<li>Regular drug development, consistent approvals for new indications coupled with licensing deals and its market leadership position will help Santen to see through the sluggishness.</li>
</ul>



Santen Pharmaceutical (4536 JP) witnessed revenue drop alongside core operating profit and net profit decline in 9MFY26. China and Asia remain key amid overseas business increasing 3%.
Santen reiterated FY26 guidance where revenue is projected at ¥294B (down 2% YoY) and core operating profit at ¥54B (down 9% YoY).
Regular drug development, consistent approvals for new indications coupled with licensing deals and its market leadership position will help Santen to see through the sluggishness.


Santen Pharma (4536 JP): Asia (Ex-China) & EMEA Show Growth, R&D Progress Augur Well

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<ul>
<li>The inaugural Sohn Tokyo conference is coming up on Oct.16 at the Roppongi Hills Club.</li>
<li>One of this year’s co-hosts and speakers is Masaki Gotoh of TriVista Capital, and Hedge Fund Alpha caught up with him prior to the conference.</li>
<li>He’s very proud to be able to co-host Sohn Tokyo with Oasis Management’s Seth Fischer, who had invited him to speak at a previous Sohn conference.</li>
</ul>


The inaugural Sohn Tokyo conference is coming up on Oct.16 at the Roppongi Hills Club.
One of this year’s co-hosts and speakers is Masaki Gotoh of TriVista Capital, and Hedge Fund Alpha caught up with him prior to the conference.
He’s very proud to be able to co-host Sohn Tokyo with Oasis Management’s Seth Fischer, who had invited him to speak at a previous Sohn conference.


Sohn Tokyo Preview: TriVista’s Masaki Gotoh – What Traditional Stock Pickers Often Miss, and More

<ul>
<li>Henlius Biotech is collaborating with Sandoz for commercialization of up to 10 biosimilars in ~$322M deal. Wuxi XDC achieved GMP release of its antibody bioconjugates production line at Singapore site.</li>
<li>Chugai Pharmaceutical signed an exclusive license agreement with GSK for the anti-dengue virus antibody AID351. Daiichi Sankyo’s Enhertu demonstrated PFS improvement as first-line treatment of NSCLC in Phase 3 trial.</li>
<li>Celltrion has launched IV formulation of Steqeyma in Japan. Eubiologics submitted an IND to the MFDS for domestic Phase 1 trial for its Alzheimer’s disease vaccine candidate, Padivax.</li>
</ul>


Henlius Biotech is collaborating with Sandoz for commercialization of up to 10 biosimilars in ~$322M deal. Wuxi XDC achieved GMP release of its antibody bioconjugates production line at Singapore site.
Chugai Pharmaceutical signed an exclusive license agreement with GSK for the anti-dengue virus antibody AID351. Daiichi Sankyo’s Enhertu demonstrated PFS improvement as first-line treatment of NSCLC in Phase 3 trial.
Celltrion has launched IV formulation of Steqeyma in Japan. Eubiologics submitted an IND to the MFDS for domestic Phase 1 trial for its Alzheimer’s disease vaccine candidate, Padivax.


APAC Healthcare Weekly (August 23) – Henlius Bio, Wuxi XDC, Chugai Pharma, Daiichi Sankyo, Celltrion

Japan

SANTEN PHARMACEUTICAL CO., LTD. produces and sells ophthalmic medicine.  The Company manufactures a variety of products including eye drops and ointments. Santen Pharmaceutical also imports lenses and tools and equipment used by optometrists and produces anti-rheumatic drugs.

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Santen Pharmaceutical (4536 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

Santen Pharma (4536 JP): China Recovery in FY26, FY27 To Be Inflection Point with Overseas and R&D

Santen Pharmaceutical sees FY26 revenue drop but net profit rises. Expects FY27 growth to be driven by overseas business and will be an inflection...

Tina Banerjee

Santen Pharma (4536 JP): Asia (Ex-China) & EMEA Show Growth, R&D Progress Augur Well

Santen Pharmaceutical sees revenue and profit decline in 9MFY26. Drug development, regular consistent approvals and market leadership position...

Tina Banerjee

Sohn Tokyo Preview: TriVista’s Masaki Gotoh – What Traditional Stock Pickers Often Miss, and More

The inaugural Sohn Tokyo conference is coming up on Oct. 16 at the Roppongi Hills Club. One of this year’s co-hosts and speakers is Masaki Gotoh...

Hedge Fund Alpha

APAC Healthcare Weekly (August 23) – Henlius Bio, Wuxi XDC, Chugai Pharma, Daiichi Sankyo, Celltrion

Henlius strikes biosimilar commercialization deal with Sandoz. Chugai signs exclusive license deal with GSK for anti-dengue virus antibody....

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

Santen Pharma (4536 JP): China Recovery in FY26, FY27 To Be Inflection Point with Overseas and R&D

​Santen Pharmaceutical sees FY26 revenue drop but net profit rises. Expects FY27 growth to be driven by overseas business and will be an inflection...

Tina Banerjee

Santen Pharma (4536 JP): Asia (Ex-China) & EMEA Show Growth, R&D Progress Augur Well

​Santen Pharmaceutical sees revenue and profit decline in 9MFY26. Drug development, regular consistent approvals and market leadership position...

Tina Banerjee

Sohn Tokyo Preview: TriVista’s Masaki Gotoh – What Traditional Stock Pickers Often Miss, and More

The inaugural Sohn Tokyo conference is coming up on Oct. 16 at the Roppongi Hills Club. One of this year’s co-hosts and speakers is Masaki Gotoh...

Hedge Fund Alpha

APAC Healthcare Weekly (August 23) – Henlius Bio, Wuxi XDC, Chugai Pharma, Daiichi Sankyo, Celltrion

Henlius strikes biosimilar commercialization deal with Sandoz. Chugai signs exclusive license deal with GSK for anti-dengue virus antibody....

Tina Banerjee

Santen Pharmaceutical sees FY26 revenue drop but net profit rises. Expects FY27 growth to be driven by overseas business and will be an inflection...

Santen Pharmaceutical sees revenue and profit decline in 9MFY26. Drug development, regular consistent approvals and market leadership position...