Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<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> has announced 9MFY26 result, with revenue, operating profit, and net profit reaching record highs, led by growth in core businesses.</li>
<li>Double-Digit growth in royalty income from HIV franchise, rebound in domestic prescription business led by Torii, and expanded sales of Cefiderocol in the U.S. and EU drove 9MFY26 performance.</li>
<li>With high base effect for Xocova ending, and new growth drivers remaining intact, Shionogi’s financial performance to improve from FY27. The company is expecting few new launches during FY28–32.</li>
</ul>



Shionogi &amp; Co (4507 JP) has announced 9MFY26 result, with revenue, operating profit, and net profit reaching record highs, led by growth in core businesses.
Double-Digit growth in royalty income from HIV franchise, rebound in domestic prescription business led by Torii, and expanded sales of Cefiderocol in the U.S. and EU drove 9MFY26 performance.
With high base effect for Xocova ending, and new growth drivers remaining intact, Shionogi’s financial performance to improve from FY27. The company is expecting few new launches during FY28–32.


Shionogi & Co (4507 JP): Decent 9MFY26 Result; No Revision in FY Forecast; Accelerate Growth Ahead

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<li>
<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> is acquiring rare neurodegenerative disease drug Radicava for $2.5B. The transaction is expected to be immediately accretive in FY27, adding ~$700M in annual global sales.</li>
<li>This acquisition will solidify Shionogi’s strategic focus in rare disease and immediately establish a strong rare disease commercial platform in the U.S. market.</li>
<li>Shionogi has received approval in Japan for inlicensed drug Zurzuvae for the indication of depression and depressive state.</li>
</ul>



Shionogi &amp; Co (4507 JP) is acquiring rare neurodegenerative disease drug Radicava for $2.5B. The transaction is expected to be immediately accretive in FY27, adding ~$700M in annual global sales.
This acquisition will solidify Shionogi’s strategic focus in rare disease and immediately establish a strong rare disease commercial platform in the U.S. market.
Shionogi has received approval in Japan for inlicensed drug Zurzuvae for the indication of depression and depressive state.


Shionogi (4507 JP): $2.5B ALS Drug Buyout and New Approval To Accelerate Portfolio Diversification

<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

Thematic (Sector/Industry)

<ul>
<li>CSPC Pharmaceutical’s Phase 3 trial of depression drug candidate HA1406 met pre-specified primary efficacy endpoint. Jiangsu Hengrui Pharmaceuticals received NMPA approval for long-acting basal insulin, sudelidec injection.</li>
<li>Otsuka Holdings secured FDA approval for Simtriyo, a once-daily extended-release capsule for ADHD. Nippon Shinyaku obtained exclusive commercialization rights for Tadekinig alfa in the U.S. for Hyperinflammatory Syndrome.</li>
<li>Pharmaessentia announced topline results from the Phase 1b clinical trial of P1101 (Besremi) and anti-PD1 in Chronic Hepatitis B or D. Cipla secured FDA approval for generic Advair Diskus.</li>
</ul>


CSPC Pharmaceutical’s Phase 3 trial of depression drug candidate HA1406 met pre-specified primary efficacy endpoint. Jiangsu Hengrui Pharmaceuticals received NMPA approval for long-acting basal insulin, sudelidec injection.
Otsuka Holdings secured FDA approval for Simtriyo, a once-daily extended-release capsule for ADHD. Nippon Shinyaku obtained exclusive commercialization rights for Tadekinig alfa in the U.S. for Hyperinflammatory Syndrome.
Pharmaessentia announced topline results from the Phase 1b clinical trial of P1101 (Besremi) and anti-PD1 in Chronic Hepatitis B or D. Cipla secured FDA approval for generic Advair Diskus.


APAC Healthcare Weekly (August 2) – CSPC, Hengrui, Otsuka, Nippon Shinyaku, PharmaEssnetia, Cipla

<ul>
<li>Jiangsu Hengrui received NMPA approval for camrelizumab as a first-line treatment of recurrent or metastatic cervical cancer. BeOne Medicines announced $300M expansion of its New Jersey manufacturing and R&amp;D center.</li>
<li>Takeda Pharmaceutical got China approval for Orzeyful as a treatment of narcolepsy type 1. Nippon Shinyaku outlicences NS-025 to Aquelys Therapeutics for the treatment of xerostomia associated with Sjögren’s disease.</li>
<li>Samsung Biologics is acquiring PolyPeptide, a leading global CDMO specializing in peptide-based API, for CHF1.46B. Celltrion has applied to the EMA for marketing authorization for its Cosentyx biosimilar candidate, CT-P55. </li>
</ul>


Jiangsu Hengrui received NMPA approval for camrelizumab as a first-line treatment of recurrent or metastatic cervical cancer. BeOne Medicines announced $300M expansion of its New Jersey manufacturing and R&amp;D center.
Takeda Pharmaceutical got China approval for Orzeyful as a treatment of narcolepsy type 1. Nippon Shinyaku outlicences NS-025 to Aquelys Therapeutics for the treatment of xerostomia associated with Sjögren’s disease.
Samsung Biologics is acquiring PolyPeptide, a leading global CDMO specializing in peptide-based API, for CHF1.46B. Celltrion has applied to the EMA for marketing authorization for its Cosentyx biosimilar candidate, CT-P55. 


APAC Healthcare Weekly (July 26) – Hengrui, BeOne, Takeda, Nippon Shinyaku, Samsung Bio, Celltrion

Japan

Shionogi & Company Ltd., is a pharmaceutical company. The Company develops prescription & over-the-counter drugs and diagnostics.

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Shionogi & Co (4507 JP)