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Valuation & Risks ( 4886 ) Disclosure / Price Chart(s) / Valuation & Risk
Fundamental Equity Research
Based on our FY3/26 forecasts, we use the average PER and PBR for mid-tier pharmaceutical makers and derive our ¥2,600 target price from the average of these values.

Downside risks include 1) failure to offset the looming patent cliff for major drugs (Relumina, Rifixima), 2) annual drug price revisions for generics, 3) failure of clinical trials on new drugs, and 4) competitive risks in women's health products.

Upside risks include 1) growth in sales of generic women's health products, 2) growth at consolidated overseas businesses, and 3) sales growth driven by an expansion of government support measures in the women's health field.

 

 

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