Astellas Pharma raised its full-year forecasts after a first half in which sales rose 23.4% to ¥1.27tn and core operating profit rose 50.3% to ¥424.9bn, according to its interim earnings release for the six months to September 2026. The company now expects core operating profit of ¥700bn, up from ¥620bn in its April guidance, and a core margin of 30%.
Growth products lead
Astellas's five strategic products (PADCEV, IZERVAY, VYLOY, VEOZAH and XOSPATA) earned ¥333.9bn in the half, up 51.4%. PADCEV brought in ¥158.3bn, up 54.5%, followed by IZERVAY at ¥56.2bn and VYLOY at ¥45.9bn. The company lifted its full-year strategic-product forecast to ¥680bn, mainly on PADCEV. These are issuer-reported sales figures.
Currency is disclosed separately
The weaker yen flattered the numbers. Average rates were ¥159 to the dollar and ¥184 to the euro, against ¥146 and ¥168 a year earlier. Astellas says currency added ¥99.3bn to revenue and ¥41.2bn to core operating profit.
Two profit measures
Core operating profit is the company's own measure and excludes items such as amortisation of intangibles and impairment losses. On the full IFRS basis, first-half operating profit was ¥316.6bn, up 58.8%, after a ¥26.4bn impairment tied to the discontinued ASP5541 prostate cancer programme. Full-year guidance on that basis rose to ¥460bn from ¥395bn on revenue of ¥2.33tn.
The new forecast assumes ¥158 to the dollar and ¥181 to the euro for the year, against ¥150 and ¥180 in April, so part of the upgrade rests on the yen staying weak.