Daiichi Sankyo shares fell 4.5% on Friday after the company kept its core operating profit guidance steady at ¥350 billion, disappointing investors who were expecting an upgrade following strong sales momentum. The stock declined sharply after the 1:00pm JST announcement, reflecting concerns that management did not raise its outlook despite continued growth in key oncology products.
The pharmaceutical major reported healthy sales performance, led by blockbuster cancer therapy Enhertu and newly launched Datroway, which saw a strong start in the market. However, the company booked a one-off inventory write-down of roughly ¥10 billion tied to Enhertu and Daichirona, while also significantly increasing its cost budgets. Adjusting for these items, core operating profit was effectively revised higher, though the headline target remained unchanged.
Daiichi Sankyo also expanded its pipeline, unveiling DS3790 — a CD37-targeting antibody-drug conjugate designed to treat blood cancers, marking continued diversification beyond solid tumor therapies. Meanwhile, uncertainty lingered around the company’s ¥200 billion share buyback plan, as management offered no firm indication on whether repurchases would begin as soon as the next business day.
Shares slid as investors weighed strong product momentum against a cautious earnings stance and unresolved capital-allocation signals.
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