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Daiichi Sankyo (4568 JP) Valuation Update – Are We There Yet?

Daiichi Sankyo (4568 JP) – We like the Focus on Oncology but Look for a Better Entry Point

Healthcare Equity Analyst - Emerging & Dev Markets, daaimon

Avien Pillay

Healthcare Equity Analyst - Emerging & Dev Markets

Independent Insight Provider

Equity Bottom-Up

<ul>
<li>We were correct not buying at a 51 FPE (at the top), despite our bullish view on their oncology portfolio of drugs.</li>
<li>With hindsight, we were early at the end Oct 2024 at 39 FPE – numbers disappointed and the counter derated significantly.</li>
<li>At a 16.5 FPE, expectations are very different. Enhertu has moved from strength to strength and has just achieved its first billion dollar quarter.</li>
</ul>


We were correct not buying at a 51 FPE (at the top), despite our bullish view on their oncology portfolio of drugs.
With hindsight, we were early at the end Oct 2024 at 39 FPE – numbers disappointed and the counter derated significantly.
At a 16.5 FPE, expectations are very different. Enhertu has moved from strength to strength and has just achieved its first billion dollar quarter.


Daiichi Sankyo (4568 JP) – Were We Too Early in Oct 2024?