Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Samsung Biologics signs manufacturing deals worth over $668M with European pharmaceutical company. Celltrion is acquiring iQone Healthcare, a specialty pharmaceutical distribution company in Switzerland. Kyowa Kirin collaborates for leukemia drug.</li>
<li>Takeda launched Hutchmed’s colorectal cancer drug Fruzaqla in Japan. FDA has turned down Astellas Pharma’s application for label update of geographic atrophy drug Izervay. Lunit is partnering with AstraZeneca.</li>
<li>Yuhan is one step ahead for European approval of Leclaza. HK inno.N signs domestic supply contract for Roche’s influenza treatment, Tamiflu. Beigene settles litigation against generic filer of Brukinsa.</li>
</ul>


Samsung Biologics signs manufacturing deals worth over $668M with European pharmaceutical company. Celltrion is acquiring iQone Healthcare, a specialty pharmaceutical distribution company in Switzerland. Kyowa Kirin collaborates for leukemia drug.
Takeda launched Hutchmed’s colorectal cancer drug Fruzaqla in Japan. FDA has turned down Astellas Pharma’s application for label update of geographic atrophy drug Izervay. Lunit is partnering with AstraZeneca.
Yuhan is one step ahead for European approval of Leclaza. HK inno.N signs domestic supply contract for Roche’s influenza treatment, Tamiflu. Beigene settles litigation against generic filer of Brukinsa.


APAC Healthcare Weekly (Nov 24)- Samsung Biologics, Celltrion, Takeda, Kyowa Kirin, Astellas Pharma

Equity Bottom-Up

<ul>
<li>During 9M24, <a href="https://www.smartkarma.com/entities/otsuka-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:12292:1" rel="noopener">Otsuka Holdings (4578 JP)</a> reported 19% YoY growth in revenue from pharmaceuticals segment to ¥1201B, mainly driven by a 28% YoY growth in Rexulti revenue to ¥196B.</li>
<li>The company has reduced 2024 revenue guidance marginally, raised the operating profit projections, while net profit guidance was kept unchanged.</li>
<li>In 3Q24, Rexulti received approval in Japan for agitation associated with dementia due to Alzheimer's disease. FDA action date for post-traumatic stress disorder indication is on February 8, 2025.</li>
</ul>


During 9M24, Otsuka Holdings (4578 JP) reported 19% YoY growth in revenue from pharmaceuticals segment to ¥1201B, mainly driven by a 28% YoY growth in Rexulti revenue to ¥196B.
The company has reduced 2024 revenue guidance marginally, raised the operating profit projections, while net profit guidance was kept unchanged.
In 3Q24, Rexulti received approval in Japan for agitation associated with dementia due to Alzheimer's disease. FDA action date for post-traumatic stress disorder indication is on February 8, 2025.


Otsuka Holdings (4578 JP): Revenue and Profit Continue to Rise, Rexulti Remains Key

<ul>
<li>Eisai Announced that global revenue of Leqembi in Q2FY25 was ¥10B, up 1.6x than Q1FY25. Takeda Pharma announced positive interim results from a Phase 3 study.</li>
<li>Shionogi’s COVID-19 drug was effective in reducing transmission of the disease. JCR Pharmaceuticals initiated first patient dosing in Japan in the Phase I clinical trial of JR-441.</li>
<li>Celltrion signed a contract with a U.S. GPO to list Zymfentra on private insurance formularies, which will expand the drug's coverage to 90%+ of the U.S. health insurance market.</li>
</ul>


Eisai Announced that global revenue of Leqembi in Q2FY25 was ¥10B, up 1.6x than Q1FY25. Takeda Pharma announced positive interim results from a Phase 3 study.
Shionogi’s COVID-19 drug was effective in reducing transmission of the disease. JCR Pharmaceuticals initiated first patient dosing in Japan in the Phase I clinical trial of JR-441.
Celltrion signed a contract with a U.S. GPO to list Zymfentra on private insurance formularies, which will expand the drug's coverage to 90%+ of the U.S. health insurance market.


APAC Healthcare Weekly (Nov 3)- Eisai, Takeda, Shionogi, Astellas Pharma, Celltrion, Wuxi AppTec

<ul>
<li>
<a href="https://www.smartkarma.com/entities/takeda-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:11747:1" rel="noopener">Takeda Pharmaceutical (4502 JP)</a> reported Q2FY25 result, with all key parameters beating estimates. The growth is attributable to favorable Fx and strong momentum from Growth and Launch Products.</li>
<li>The strong performance of Takeda’s Growth and Launch Product portfolio, which more than offsets LOE impact, reinforces the company’s confidence in returning to sustainable revenue and profit growth.</li>
<li>Takeda has raised FY25 guidance. The revised guidance reflects muted H2FY25 performance, affected by lower revenue from key drugs and accelerated R&amp;D investments.  </li>
</ul>



Takeda Pharmaceutical (4502 JP) reported Q2FY25 result, with all key parameters beating estimates. The growth is attributable to favorable Fx and strong momentum from Growth and Launch Products.
The strong performance of Takeda’s Growth and Launch Product portfolio, which more than offsets LOE impact, reinforces the company’s confidence in returning to sustainable revenue and profit growth.
Takeda has raised FY25 guidance. The revised guidance reflects muted H2FY25 performance, affected by lower revenue from key drugs and accelerated R&amp;D investments.  


Takeda Pharmaceutical (4502 JP): Beat-And-Raise Q2 Amid Strong Performance of New Drugs

<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 revenue of ¥936B, up 22% YoY in H1FY25. The U.S. sales of Xtandi jumped 35% YoY to ¥245B.</li>
<li>Xtandi and Padcev will continue to be the key drivers of future growth and are expected to contribute 57% of total revenues in FY25.</li>
<li>Astellas raised guidance of FY25 revenue by 9% to ¥1800B (up 12% YoY). Core operating profit and net profit are also expected to rise, while margins to be under pressure.</li>
</ul>



Astellas Pharma (4503 JP) reported revenue of ¥936B, up 22% YoY in H1FY25. The U.S. sales of Xtandi jumped 35% YoY to ¥245B.
Xtandi and Padcev will continue to be the key drivers of future growth and are expected to contribute 57% of total revenues in FY25.
Astellas raised guidance of FY25 revenue by 9% to ¥1800B (up 12% YoY). Core operating profit and net profit are also expected to rise, while margins to be under pressure.


Astellas Pharma (4503 JP): US Momentum Drives 1HFY25 Result; Guidance Revised Upward

Japan

Takeda Pharmaceutical Co Ltd focuses on the Research & Development, Manufacturing, Sales and Marketing and Import/Export of Pharmaceutical Drugs. The Company focuses on the following core therapeutic areas: Cardiovascular & Metabolic, Oncology, Central Nervous System, Respiratory & Immunology, General Medicine (Gastrointestinal & Genitourinary) and Vaccine.

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Takeda Pharmaceutical (4502 JP)

APAC Healthcare Weekly (Nov 24)- Samsung Biologics, Celltrion, Takeda, Kyowa Kirin, Astellas Pharma

Samsung Biologics secures new manufacturing deals, Celltrion is acquiring iQone Healthcare, Takeda launches colorectal cancer drug in Japan, and...

Tina Banerjee

Otsuka Holdings (4578 JP): Revenue and Profit Continue to Rise, Rexulti Remains Key

During 9M24, Otsuka reported 19% growth in revenue from pharmaceuticals segment to ¥1201B, mainly driven by a 28% growth in Rexulti to ¥196B. FDA...

Tina Banerjee

APAC Healthcare Weekly (Nov 3)- Eisai, Takeda, Shionogi, Astellas Pharma, Celltrion, Wuxi AppTec

Large APAC healthcare companies are reporting mixed earnings. Demography will play a key role in ensuring how the overall domestic demand scenario...

Tina Banerjee