The Point for Japan

研报英文原文证据摘录

The Point for Japan

represents a risk factor for ptosis, and prevalence rates are estimated to be higher

in men. Despite awareness of symptoms, consultation and treatment rates remain

extremely low. Low disease awareness suggests patient identification efforts via

disease education activities could prove effective. While age-related ptosis

accounts for 60% of cases, distinguishing other causative conditions remains

important. For Santen’s Upneeq the primary side effect is itching, but occurrence

is low at less than 1%, making it easy to use.

Hidemaru Yamaguchi

Astellas Pharma (4503.T) - Expanded indication for PADCEV in MIBC approved

ahead of schedule - somewhat positive

Astellas issued a press release before the market open on July 13, stating that

Padcev has received approval as a neoadjuvant and adjuvant therapy for MIBC in

combination with Keytruda, regardless of cisplatin eligibility, ahead of the FDA

approval deadline (PDUFA) of August 17. Thanks to the drug’s strong data, Padcev

approvals have tended to come earlier than the deadlines, so while not surprising,

we see this as positive news. Among MIBC patients, the previous indication

covered only cisplatin-ineligible patients (20,000), but now cisplatin-eligible

patients (32,000) are also included, expanding the potential market. The stock

price has been flat since the medium-term plan announcement on May 26. We

forecast Q1 core OP of ¥170bn (+20% YoY), in line with consensus (¥163bn).

Development pipeline progress and US new drug sales are key focus areas, in our

view. We remain Neutral.

Mitsubishi Estate (8802.T) - Reportedly beginning full-scale investment in

domestic data centers

The Nikkei reported on July 12 that Mitsubishi Estate will develop domestic data

centers.