Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>We have screened for APAC (ex-China) healthcare companies using their respective Smart Score, a compound score for a company indicating its overall outlook based on key factors.</li>
<li>Smart Score screens the stock based on five major components including value, dividends, growth, resilience, and momentum. It also provides a cumulative score, which puts equal weightage on each parameter.  </li>
<li>Parameters used to screen the stocks: market cap≥ $800M and smart score≥ 3.5. We have seen stocks having high smart score has strong growth prospects and qualify for investment proposition.</li>
</ul>


We have screened for APAC (ex-China) healthcare companies using their respective Smart Score, a compound score for a company indicating its overall outlook based on key factors.
Smart Score screens the stock based on five major components including value, dividends, growth, resilience, and momentum. It also provides a cumulative score, which puts equal weightage on each parameter.  
Parameters used to screen the stocks: market cap≥ $800M and smart score≥ 3.5. We have seen stocks having high smart score has strong growth prospects and qualify for investment proposition.


Top APAC (Ex-China) Investment Worthy Healthcare Companies Using Smartkarma’s Smart Score Screener

Equity Bottom-Up

<ul>
<li>In FY26, <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> revenue grew 7% YoY to ¥170B driven by growth in etical drugs revenue, higher licensing fees and operating profit stood at ¥35.5B (flat YoY).</li>
<li>Viltepso witnessed slowing in US. Licensing income increased on higher overseas sales of Uptravi. Newly launched drugs like Vyxeos and Fintepla continue to show promise.</li>
<li>Company expects FY27 revenue to be ¥200B (up 17% YoY) taking into account Uptravi’s royalty income, U.S. launch of CAP-1002 (deramiocel) and growth in the domestic products.</li>
</ul>


In FY26, Nippon Shinyaku (4516 JP) revenue grew 7% YoY to ¥170B driven by growth in etical drugs revenue, higher licensing fees and operating profit stood at ¥35.5B (flat YoY).
Viltepso witnessed slowing in US. Licensing income increased on higher overseas sales of Uptravi. Newly launched drugs like Vyxeos and Fintepla continue to show promise.
Company expects FY27 revenue to be ¥200B (up 17% YoY) taking into account Uptravi’s royalty income, U.S. launch of CAP-1002 (deramiocel) and growth in the domestic products.


Nippon Shinyaku (4516 JP): FY27 Guidance Signals Recovery, Speed Bumps Remain

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kaken-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:18819:1" rel="noopener">Kaken Pharmaceutical (4521 JP)</a> reported yet another underwhelming earnings in 9MFY26, with revenue, operating profit and net profit witnessing significant drop as upfront payments received last fiscal put pressure.</li>
<li>Kaken’s major drug Clenafin saw revenue dropped 15% to ¥11.5B, while Ecclock helped drive revenue growing 13% YoY to ¥1.9B.</li>
<li>FY26 guidance revised slightly upwards to ¥88B (down 6% YoY). Kaken still needs an immediate strong revenue driver to rescue it from pangs of drug price revision and generic competition.</li>
</ul>



Kaken Pharmaceutical (4521 JP) reported yet another underwhelming earnings in 9MFY26, with revenue, operating profit and net profit witnessing significant drop as upfront payments received last fiscal put pressure.
Kaken’s major drug Clenafin saw revenue dropped 15% to ¥11.5B, while Ecclock helped drive revenue growing 13% YoY to ¥1.9B.
FY26 guidance revised slightly upwards to ¥88B (down 6% YoY). Kaken still needs an immediate strong revenue driver to rescue it from pangs of drug price revision and generic competition.


Kaken Pharma (4521 JP): Growth Pangs Continue in 9MFY26, Guidance Marginally Revised

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kaken-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:18819:1" rel="noopener">Kaken Pharmaceutical (4521 JP)</a> reported rather underwhelming earnings in H1FY26, with revenue, operating profit and net profit witnessing significant drop as upfront payments received last fiscal put pressure.</li>
<li>Kaken’s major drug Clenafin saw revenue rise 1.5% to ¥9.3B on AG launch, while Ecclock helped drive revenue growing 12% YoY to ¥1.5B.</li>
<li>FY26 guidance revised downwards to ¥86.3B (down 8% YoY). Kaken needs an immediate strong revenue driver to rescue it from pangs of drug price revision and generic competition.</li>
</ul>



Kaken Pharmaceutical (4521 JP) reported rather underwhelming earnings in H1FY26, with revenue, operating profit and net profit witnessing significant drop as upfront payments received last fiscal put pressure.
Kaken’s major drug Clenafin saw revenue rise 1.5% to ¥9.3B on AG launch, while Ecclock helped drive revenue growing 12% YoY to ¥1.5B.
FY26 guidance revised downwards to ¥86.3B (down 8% YoY). Kaken needs an immediate strong revenue driver to rescue it from pangs of drug price revision and generic competition.


Kaken Pharma (4521 JP): Bleaker FY26 Ahead, Growth Pangs to Continue for Now

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kaken-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:18819:1" rel="noopener">Kaken Pharmaceutical (4521 JP)</a> witnessed 3% YoY revenue growth in 1QFY26 to ¥18.9B as overseas pharmaceutical and crop protection sales while domestic market remained under pressure.</li>
<li>Kaken’s major drug Clenafin saw revenue drop 3% to ¥4.4B on patent cliff, while Ecclock helped drive revenue growing 18% YoY to ¥803M.</li>
<li>Kaken reiterated FY26 guidance where it expects revenue to fall 6% YoY to ¥88 billion. No respite from immediate pangs in the form of drug price revision and generic competition.</li>
</ul>



Kaken Pharmaceutical (4521 JP) witnessed 3% YoY revenue growth in 1QFY26 to ¥18.9B as overseas pharmaceutical and crop protection sales while domestic market remained under pressure.
Kaken’s major drug Clenafin saw revenue drop 3% to ¥4.4B on patent cliff, while Ecclock helped drive revenue growing 18% YoY to ¥803M.
Kaken reiterated FY26 guidance where it expects revenue to fall 6% YoY to ¥88 billion. No respite from immediate pangs in the form of drug price revision and generic competition.


Kaken Pharma (4521 JP): FY26 Starts on a Bleak Note as Expected, Growth Pangs to Stay for Now

Japan

Sawai Group Holdings Co., Ltd. manufactures and distributes medical products. The Company produces drugs, healthcare products, and other products. Sawai Group Holdings also produces medical equipment.

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Sawai Group Holdings (4887 JP)

Top APAC (Ex-China) Investment Worthy Healthcare Companies Using Smartkarma’s Smart Score Screener

We have screened APAC (ex-China) healthcare companies with market cap≥$800M using Smartkarma’s Smart Score and picked up 2 investable ideas by...

Tina Banerjee

Nippon Shinyaku (4516 JP): FY27 Guidance Signals Recovery, Speed Bumps Remain

Nippon Shinyaku's FY26 revenue grew 7% to ¥170B, driven by ethical drugs and higher licensing fees. FY27 revenue expected to reach ¥200B with...

Tina Banerjee

Kaken Pharma (4521 JP): Growth Pangs Continue in 9MFY26, Guidance Marginally Revised

Kaken Pharmaceutical (4521 JP) reports underwhelming earnings in 9MFY26. Company needs strong revenue driver to combat challenges from drug price...

Tina Banerjee

Kaken Pharma (4521 JP): Bleaker FY26 Ahead, Growth Pangs to Continue for Now

Kaken Pharmaceutical (4521 JP) reports underwhelming H1FY26 earnings with significant drops in revenue and profit. Needs strong revenue driver to...

Tina Banerjee

Kaken Pharma (4521 JP): FY26 Starts on a Bleak Note as Expected, Growth Pangs to Stay for Now

Kaken Pharmaceutical saw 3% revenue growth in 1QFY26 supported by overseas sales. Major drug revenue dropped. Growth pangs are here to stay. FY26...

Tina Banerjee

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Top APAC (Ex-China) Investment Worthy Healthcare Companies Using Smartkarma’s Smart Score Screener

We have screened APAC (ex-China) healthcare companies with market cap≥$800M using Smartkarma’s Smart Score and picked up 2 investable ideas by...

Tina Banerjee

Nippon Shinyaku (4516 JP): FY27 Guidance Signals Recovery, Speed Bumps Remain

​Nippon Shinyaku's FY26 revenue grew 7% to ¥170B, driven by ethical drugs and higher licensing fees. FY27 revenue expected to reach ¥200B with...

Tina Banerjee

Kaken Pharma (4521 JP): Growth Pangs Continue in 9MFY26, Guidance Marginally Revised

​Kaken Pharmaceutical (4521 JP) reports underwhelming earnings in 9MFY26. Company needs strong revenue driver to combat challenges from drug price...

Tina Banerjee

Kaken Pharma (4521 JP): Bleaker FY26 Ahead, Growth Pangs to Continue for Now

​Kaken Pharmaceutical (4521 JP) reports underwhelming H1FY26 earnings with significant drops in revenue and profit. Needs strong revenue driver to...

Tina Banerjee

Kaken Pharma (4521 JP): FY26 Starts on a Bleak Note as Expected, Growth Pangs to Stay for Now

​Kaken Pharmaceutical saw 3% revenue growth in 1QFY26 supported by overseas sales. Major drug revenue dropped. Growth pangs are here to stay. FY26...

Tina Banerjee

Nippon Shinyaku's FY26 revenue grew 7% to ¥170B, driven by ethical drugs and higher licensing fees. FY27 revenue expected to reach ¥200B with...

Kaken Pharmaceutical (4521 JP) reports underwhelming earnings in 9MFY26. Company needs strong revenue driver to combat challenges from drug price...

Kaken Pharmaceutical (4521 JP) reports underwhelming H1FY26 earnings with significant drops in revenue and profit. Needs strong revenue driver to...

Kaken Pharmaceutical saw 3% revenue growth in 1QFY26 supported by overseas sales. Major drug revenue dropped. Growth pangs are here to stay. FY26...