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Daiichi Sankyo shares tumbled sharply on Friday after the Japanese pharmaceutical company announced a delay in its annual earnings release, raising concerns among investors about its oncology business and potential financial losses. The stock of Daiichi Sankyo Co., Ltd. (TYO:4568) fell nearly 10% to 2,505.5 yen, marking its lowest level since March 2022 and making it one of the worst-performing stocks in the Nikkei 225, despite the index edging up 0.3%.
The company confirmed that it has postponed its earnings announcement to May 11 from the originally scheduled date of April 27. This decision comes as Daiichi Sankyo conducts a detailed review of its oncology portfolio, including supply chain plans and its drug development pipeline. According to the company, rapidly changing market conditions have made it necessary to reassess its projections, particularly regarding potential loss provisions linked to contract manufacturers.
In addition to the earnings delay, Daiichi Sankyo also rescheduled the release of its five-year business plan to May 11, moving it forward from the previously planned May 19 date. This shift highlights the company’s effort to provide a more comprehensive update alongside its financial results.
The delay occurs during a period of strategic transformation for Daiichi Sankyo. Earlier in April, the company sold its over-the-counter drug unit, Daiichi Sankyo Healthcare, to Suntory Holdings. This move aligns with its long-term strategy to concentrate on its core prescription drug business and strengthen its oncology pipeline.
Daiichi Sankyo has been heavily investing in cancer treatments, with a strong focus on innovative therapies like Enhertu, a high-profile drug co-developed with AstraZeneca. While this focus positions the company for future growth in the oncology market, the current uncertainty surrounding supply planning and financial adjustments has weighed on investor sentiment.
As Daiichi Sankyo navigates these challenges, market participants will closely watch its upcoming earnings report and strategic updates for clearer insights into its financial outlook and growth trajectory.
