Astellas Pharma (4503) Q2 2026 earnings summary

Executive summary

• Revenue and core operating profit saw significant year-on-year growth, driven by strong performance of strategic brands such as PADCEV, VYLOY, and others, as well as robust cost optimization initiatives.

• Achieved exceptional Q2 YTD results, significantly outperforming expectations and prompting a major upward revision of full-year forecasts.

• Pipeline progress included unprecedented PADCEV data, promising results for ASP3082 and ASP2138, and approvals for IZERVAY in Japan and Australia.

Financial highlights

• Revenue reached ¥1,030.1 billion, up 10.1% year-on-year; underlying growth excluding forex impact was 12%.

• Core operating profit rose to ¥282.6 billion, up 54.4% year-on-year; margin increased by 7.9 percentage points to 27.4%.

• Operating profit was ¥199.4 billion, up 112.8% year-on-year; net profit doubled to ¥147.6 billion.

• Free cash flow increased to ¥252.4 billion from ¥21.7 billion year-on-year.

Outlook and guidance

• Full-year revenue forecast revised upward by ¥100 billion to ¥2,030 billion, surpassing ¥2 trillion for the first time.

• Core operating profit forecast raised by ¥80 billion to ¥490 billion; core profit forecast increased to ¥365 billion.

• Core operating profit margin expected at 24.1%, up 2.9 percentage points from initial forecast.

• Continued strong growth expected for Strategic Brands in the second half.