bullish
Sumitomo Pharma (4506 JP): Q1FY25 Result Shows Early Sign of Performance Reversal
536 Views01 Aug 2024 23:16
Boomeranged on Thu, 3 Oct 2024 16:45
Sumitomo Pharma shares gained 37% in just two months. Book partial profit and hold core position. Valuation is still cheap and outlook is still positive. H1FY25 result announcement is on October 30.
SUMMARY
- Sumitomo Pharma (4506 JP) reported double-digit revenue growth in Q1FY25, driven by North America. Operating loss narrowed. Net profit stood at ¥16B in Q1FY25 (Q1FY24 net loss: ¥39B).
- Robust performance of key products, gross margin expansion, achievement of sizable benefits from the North America business restructure, and streamlining R&D initiatives are the key positives in Q1FY25 result.
- Sumitomo is expected to revise FY25 guidance during H1FY25 result announcement. Better-than-expected performance from key drugs as well as favorable Fx should lead to upward revision of revenue guidance.
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Tina Banerjee
Global Healthcare Analyst
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