■Future Outlook LeTech <3497> expects an increase in sales and ordinary income of more than 20%, with sales of 2.14 billion yen (+33.8% YoY), operating income of 150 million yen (+7.7% YoY), ordinary income of 100 million yen (+21.7% YoY), and net income of 1.03 billion yen (-11.4% YoY) for the July 2024 term, and has maintained its initial forecast (announced in September 2023).
2. Long-term strategy. As a global specialty pharmaceutical company, Shionogi & Co. (4582) aims to achieve growth by 2030 with domestic and overseas sales ratios of 50% each. With regard to domestic sales, the company plans to expand sales through new products to be introduced in addition to Toreakishin(R) and the launch of BCV. The strategy for expanding sales overseas is to launch at least two products with BCV. As for the platform deployment of BCV, the company aims to develop and launch products for virus infections and tumors caused by viral infections after transplantation in the short term. However, after 2030, the company will also consider launching in the large market of neurodegenerative diseases. Our company evaluates that confirming the optimal dose and usage of BCV in clinical trials for AdV infections has become a great advantage for advancing clinical development of other pipelines and partner negotiations. If the clinical development of each pipeline progresses smoothly in the future, BCV may be a blockbuster, and the company's enterprise value (market capitalization), which is currently in the 8 billion yen range, is expected to increase.
Shionogi & Co. (4582) aims to achieve growth as a global specialty pharmaceutical company, with a target of 50% domestic and overseas sales ratios respectively by 2030. They plan to expand sales domestically by introducing new products in addition to Toreakishin(R) and by launching BCV, while overseas expansion strategy involves launching at least two BCV products. The platform deployment strategy of BCV targets virus infections and tumors caused by viral infections, especially the post-transplantation ones for the time being. The company also plans to consider launching in the large market of neurodegenerative diseases after 2030.
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(Written by FISCO guest analyst, Jo Sato)