Japan pharmaceuticals and biotech sector: Quick Note

研报英文原文证据摘录

Japan pharmaceuticals and biotech sector: Quick Note

Japan pharmaceuticals and Global Markets Research 27 July 2026

biotech sector

EQUITY: JAPAN PHARMACEUTICALS

Research Analysts

AstraZeneca announces Apr–Jun results Japan pharmaceuticals &

healthcare

Hiroyuki Matsubara, Ph.D. - NSCQuick Note hiroyuki.matsubara@nomura.com

+81 3 6703 1240

AstraZeneca: No change to schedule for disclosure of Datroway results, AVANZAR

study results slated for 26/12 H2

AstraZeneca (pharmaceuticals): AstraZeneca held its Apr–Jun 2026 (Q2) results

briefing on 27 July. Sales rose 5% y-y to $15.384bn (ex forex effects), with contributions

from oncology (up 15%) and respiratory/immunology (up 11%). (1) Sales of Enhertu

(breast cancer) continued to grow, up 31% at $888mn. Sales in the US benefited from

prescriptions as a first-line treatment for HER2-positive breast cancer, while sales in

emerging markets benefited from increased sales for HER2-positive and HER2-low breast

cancer following insurance reimbursements. (2) Datroway generated sales of $55mn (up

5x), as it has the top share of the market for third-line treatments of EGFR-mutated non-

small cell lung cancer (NSCLC) and appears to be seeing increased demand as a

second-line treatment.

Implications for Japanese companies: We find it reassuring that there has not been

any major change to the schedule for release of clinical trial results for Datroway, which is

a key catalyst for Daiichi Sankyo [4568] (Buy). The results of the AVANZAR study

(NCT05687266) investigating Datroway in combination with Imfinzi and those of the

TROPION-Lung07 study (NCT05555732) investigating Datroway in combination with

Keytruda, both as a first-line treatment for NSCLC, are scheduled for release in 26/12 H2

and 27/12 H1, respectively.