Kaken's profit for the six months to September 2026 owes more to a licensing payment than to a new market. The drugmaker said a $70mn milestone from Johnson & Johnson, tied to an April 22, 2026 announcement, was the main reason sales and profit rose.
The numbers
Sales rose 24.4% to ¥48.96bn. Operating profit reached ¥10.16bn, against ¥180mn a year earlier, and profit attributable to owners of the parent was ¥8.0bn, up 698.1%. Overseas sales rose to ¥18.25bn, up 250.9%, which Kaken ties to the milestone income.
The pharmaceuticals segment shows the mix. Licence-contract revenue was ¥12.43bn, against ¥889mn a year earlier, while product sales were ¥35.21bn, against ¥37.19bn.
Jublia in Germany
Almirall, Kaken's European licensee for the nail-fungus treatment Jublia, launched the product in Germany. Kaken's interim report calls it the group's first product rollout in the European market. The report gives no launch date or German sales figure, and the milestone payment is a separate item from the launch.
Pressure at home
In Japan, Kaken said sales of medicines and medical devices fell as the Japanese-market version of Jublia was replaced by an authorised generic, despite added sales from a newly launched product. Kaken also reported that production in the pharmaceuticals segment fell sharply for the same reason.
Kaken's report does not say whether further milestone payments are expected.