Voyxact competitor granted accelerated approval in US: Quick Note

Research evidence excerpt

Voyxact competitor granted accelerated approval in US: Quick Note

Global Markets Research

8 July 2026Otsuka Holdings

4578.T 4578 JP / EQUITY: JAPAN PHARMACEUTICALS

Voyxact competitor granted accelerated approval Rating Neutralin US

Target price JPY 11,000Quick Note

Closing price

7 July 2026 JPY 11,515First impression in line: We think launch of competing drug is unlikely to have

major impact on Voyxact prescriptions (Note: Quick Note reports are not a

On 7 July local time, Vera Therapeutics announced that the US Food and Drug vehicle for changes to ratings, target

Administration (FDA) has granted Trutakna (atacicept) accelerated approval as an IgA prices, or earnings forecasts)

nephropathy treatment. While Trutakna will compete with Otsuka Holdings' Voyxact, we

do not expect any major impact on prescriptions for Voyxact given Voyxact's advantages

in convenience and efficacy. In terms of convenience, Voyxact is administered once

every four weeks, versus once weekly for Trutakna. Also, according to a Reuters article,

Research Analystsannual cost of treatment with Trutakna is $425,000, which if accurate is higher than

Voyxact's annual cost of $350,000. In terms of efficacy, Voyxact achieved a 51% Japan pharmaceuticals &

reduction in proteinuria compared to placebo at 36 weeks, compared to a 42% reduction healthcare

at 36 weeks for Trutakna. Since the detailed results for Voyxact have not yet been Hiroyuki Matsubara, Ph.D. - NSC

released, it is difficult to draw firm conclusions, but we surmise that there is no major hiroyuki.matsubara@nomura.com

+81 3 6703 1240difference in the change in the estimated glomerular filtration rate (eGFR, a measure of

the kidney's ability to filter waste products into urine; for reference, see our 2 July 2026