Palantir shares slip premarket despite posting record revenue in third quarter
Investing.com - Daiichi Sankyo stock fell 4.5% on Friday after the Japanese pharmaceutical company maintained its core operating profit target at ¥350 billion despite strong sales performance.
The share price dropped sharply following the company’s 1:00pm JST announcement, which disappointed investors who had anticipated an upward revision to the profit outlook. Despite the unchanged target, Daiichi Sankyo reported strong sales, with both Enhertu and Datroway showing robust performance, with the latter demonstrating a particularly strong launch.
The company disclosed a one-off inventory write-down of approximately ¥10 billion related to its Enhertu and Daichirona products. Cost budgets were also significantly increased, though after adjusting for these factors, the core operating profit was effectively lifted.
In its product pipeline update, Daiichi Sankyo introduced DS3790, a new CD37-ADC (antibody-drug conjugate) that targets hematologic cancers rather than solid tumors, expanding its oncology portfolio.
The company provided no clear indication whether its planned share buybacks, valued at ¥200 billion, would proceed in the next business day onward, adding another element of uncertainty for investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.