Kaken Pharmaceutical cuts FY2026 earnings forecast on competition, upfront payments

Kaken Pharmaceutical Co., Ltd. announced a downward revision to its consolidated earnings forecast for the fiscal year ending March 31, 2026. Net sales are now forecast at JPY 86,300 million, a decrease of JPY 1,700 million from the previously announced JPY 88,000 million.

The company's operating profit is revised to JPY 2,100 million from JPY 5,200 million, while ordinary profit is updated to JPY 2,800 million from JPY 6,000 million. Profit attributable to owners of the parent is now forecast at JPY 2,300 million, down from JPY 3,400 million, leading to a revised basic earnings per share of JPY 60.74.

This revision is primarily attributed to a JPY 1.7 billion reduction in net sales due to the impact of competing products in the domestic pharmaceutical segment. Additionally, the decrease in profits reflects upfront payments related to a "License Agreement for gMSC®1" and a $16 million upfront payment for the "Strategic Collaboration with Astria Therapeutics, Inc. to Develop and Commercialize Navenibart for Hereditary Angioedema in Japan."