Global Healthcare Analyst

Tina Banerjee

Equity research analyst having 15+ years of experience, with an interest on fundamentally strong global healthcare companies. I have been helping investors to find future winners in healthcare space to grow their wealth by focusing on the strength and potential of the business models of the companies. My initiating coverage reports and pitch help investors to know ‘what to buy’, ‘why to buy’, and ‘when to buy’. My clients always remain on top of the sector with the help of my timely and detailed notes on earnings or any news update. I also provide broader view on the entire healthcare sector through periodic thematic reports.

Ono Pharmaceutical (4528 JP): Label Expansion Helps, But Long-Term Growth Momentum Calls for More

Ono Pharmaceutical (4528 JP): Deciphera Acquisition Will Not Bring Immediate Respite

Ono Pharmaceutical (4528 JP): Struggle Continues with Opdivo; Competition and Price Cuts Loom Large

Equity Bottom-Up

<ul>
<li>During Q1FY26, <a href="https://www.smartkarma.com/entities/ono-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:8979:1" rel="noopener">Ono Pharmaceutical (4528 JP)</a>  reported revenue of ¥127.5B, an increase of 8% YoY. Opdivo witnessed 8% decrease in revenue to ¥29.4B mainly due to increased competition.  </li>
<li>Opdivo is facing competition from Keytruda. Ono guided Opdivo revenue in FY26 to be ¥138.5B (Japan: ¥125B, up 4% and Overseas: ¥13.5B, up 3%), up 4% YoY.</li>
<li>In FY26, Opdivo’s revenue growth will come from indication expansion but smaller addressable patient population remains a concern for long term.</li>
</ul>


During Q1FY26, Ono Pharmaceutical (4528 JP)  reported revenue of ¥127.5B, an increase of 8% YoY. Opdivo witnessed 8% decrease in revenue to ¥29.4B mainly due to increased competition.  
Opdivo is facing competition from Keytruda. Ono guided Opdivo revenue in FY26 to be ¥138.5B (Japan: ¥125B, up 4% and Overseas: ¥13.5B, up 3%), up 4% YoY.
In FY26, Opdivo’s revenue growth will come from indication expansion but smaller addressable patient population remains a concern for long term.


Ono Pharma (4528 JP): Forxiga and Acquisition Drives 1QFY26, Opdivo Takes a Backseat on Competition