Chugai Posts Strong Q1 Thanks to Sales of In-House Drugs, FVE Revised to JPY 6,500
Narrow-moat Chugai Pharmaceutical announced Q1 earnings that showed strong operating margins of 30%, an increase of 380 basis points year-over-year, or 200 basis points using Chugai’s core earnings. This was driven by increasing sales contribution from higher-margin in-house drugs, which improved gross margins. This is better than our expectations, and we believe it will be sustainable. As a result, we revised our fair value to JPY 6,500 per share from JPY 6,000 per share.Revenue this quarter g...
Chugai Pharmaceutical is a pharmaceutical company. Along with its subsidiaries, Co. is engaged in the research and development of new prescription medicines and the subsequent manufacturing, marketing and distribution activities. Co. sells its pharmaceutical products to the nationwide appointed stores in Japan, as well as in overseas, such as Germany, the U.K., France, Taiwan, China, South Korea and the U.S. Co., through its subsidiaries, is also involved in the management of research facilities, and the research on drug discovery, as well as the provision of literature research services for pharmaceutical information, and pharmaceutical academic information.
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