Torii Pharmaceutical faces potential profit impact from lawsuit

Torii Pharmaceutical (TSE:4551) has announced its relationship with the ongoing patent infringement lawsuit concerning its oral antipruritic agent, REMITCH® OD tablets, manufactured by Toray Industries. The lawsuit, initially filed by Toray against Sawai Pharmaceutical and Fuso Pharmaceutical, alleges infringement of Toray's use patent (Patent No. 3531170) for a generic version of REMITCH®. The Intellectual Property High Court ruled in favor of Toray, awarding damages of JPY 14,290,939,291 to Sawai Pharmaceutical and JPY 7,472,878,838 to Fuso Pharmaceutical. Torii Pharmaceutical has an agreement with Toray to receive half of these damages, however, the amount and timing of the payment are currently uncertain due to the possibility of an appeal. While the ultimate financial impact on Torii Pharmaceutical's net profit remains unclear and will be disclosed in a separate announcement once the judgement is final, the company reaffirms its previously announced earnings forecast for the fiscal year ending December 31, 2025, due to the uncertainty surrounding the damages and payment.