Astellas Pharma Revises Financial Forecasts for FY2025

Astellas Pharma announced a significant upward revision to its full-year consolidated financial forecast for FY2025 on October 30, 20253 5 6.

The revenue forecast was increased by ¥100 billion, now expected to reach ¥2.03 trillion—exceeding the ¥2 trillion milestone for the first time since Astellas's establishment1.

Core operating profit forecast was also raised by ¥80 billion, now projected at ¥490 billion, and full operating profit at ¥240 billion1.

The revision was driven by strong growth in strategic brands such as VYLOY (up ¥20 billion), PADCEV (up ¥10 billion), and XTANDI (up ¥70 billion)1.

The core operating profit margin improved by 7.9 percentage points year-on-year, reaching 27.4%, with SG&A expenses declining due to the Sustainable Margin Transformation cost optimization initiative1.

R&D expenditure is expected to be ¥322 billion, reflecting operational efficiency and reorganization in research and development1.

The pipeline saw considerable advancement:
key milestones include successful completion of the PADCEV EV-303 trial (muscle invasive bladder cancer), acceptance of a supplemental biologics license application (BLA) in the U.S., and IZERVAY’s approval in Japan for atrophic AMD1.

The results indicated robust underlying revenue growth excluding forex impact (12% year-on-year) and a 57% rise in core operating profit year-on-year1.

Despite the strong profitability and revised forecasts, some analysis suggests that much of the surge in profit came from non-operational adjustments (such as changes in contingent considerations), while core revenue growth remains modest2.

Astellas's strategic focus is shifting towards higher-margin, specialty treatments and R&D programs with significant commercial potential, although investors are advised to distinguish between non-recurring gains and sustainable growth2.