WAKAMOTO PHARMACEUTICAL CO.,LTD.

Business Details

The company manufactures and sells original pharmaceuticals, generic pharmaceuticals, medical devices, and in vitro diagnostic products, centered on the ophthalmology field. It promotes appropriate use and provides safety information to medical institutions and wholesalers through MRs. In FY2026 (ending March 2026), the company has expanded its contribution to medical practice through the resumption of supply of Macuaid for Intraocular Injection, the launch of the new generic drug Epinastine Hydrochloride LX Ophthalmic Solution 0.1%, the transfer of manufacturing and marketing rights for an ophthalmic surgical adjuvant, and the launch of the AcrivaTrinova Pro multifocal intraocular lens and its toric model.

Recent Overview

Revenue increased 37.1% due to the resumption of Macuaid supply and new product launches, while the loss also narrowed significantly

Revenue in the Pharmaceuticals Business for FY2026 (ending March 2026) was ¥4,762 million (up 37.1% year on year). The resumption of supply of Macuaid for Intraocular Injection in April 2025 was the largest contributing factor to the increase. The new launch of Epinastine Hydrochloride LX Ophthalmic Solution 0.1%, the transfer of manufacturing and marketing rights for an ophthalmic surgical adjuvant, and the launch of the AcrivaTrinova Pro multifocal intraocular lens and its toric model also contributed. On the other hand, sales of products such as Dicloud Ophthalmic Solution declined due to the impact of the selection-based treatment system for long-listed products implemented in October 2024. The segment loss was −¥674 million, narrowing from −¥1,086 million in the prior period. Major sales destinations were Mediceo Corporation (¥1,241 million) and Suzuken Co., Ltd. (¥1,081 million).

Key Products

Growth Drivers

• Full-scale recovery of original product sales (domestic and overseas) driven by the resumption of Macuaid for Intraocular Injection supply
• Expansion of the medical device business through the AcrivaTrinova Pro multifocal intraocular lens and its toric model, AcrivaTrinova Pro Toric
• Continued sales growth of generic drugs (Carteolol Hydrochloride LA Ophthalmic Solution, Epinastine Hydrochloride Ophthalmic Solution, Tafluprost Ophthalmic Solution)
• Lineup expansion through the launch of the new generic drug Epinastine Hydrochloride LX Ophthalmic Solution 0.1% and the transfer of manufacturing and marketing rights for an ophthalmic surgical adjuvant (Sodium Hyaluronate Ophthalmic Viscoelastic Agent)
• Strengthening MR activity levels and deepening cooperation with wholesalers (Mediceo Corporation, Suzuken Co., Ltd.)
• Expansion of business opportunities through a full-lineup strategy in ophthalmology (original pharmaceuticals, generic pharmaceuticals, medical devices, in vitro diagnostic products)

Risks

• Continued downward pressure on revenue from annual drug price revisions (the company has explicitly identified the impact of the new drug creation premium repayment for Macuaid for Intraocular Injection in FY2027, ending March 2027)
• Continued decline in sales of products such as Dicloud Ophthalmic Solution due to the implementation of the selection-based treatment system for long-listed products (October 2024)
• Risk of product supply suspension (the past supply suspension of Macuaid for Intraocular Injection had a significant impact on business results)
• Fluctuations in sales of in vitro diagnostic products depending on the prevalence of infectious diseases such as epidemic keratoconjunctivitis
• Short-term profit pressure from increased selling, general and administrative expenses associated with the launch of medical devices (such as intraocular lenses)
• Uncertainty regarding market penetration of new products (such as intraocular lenses), including market share, selling prices, and competitive dynamics
• Risk of supply suspension in the event of a disaster or accident, as the company has only one production site, the Sagamioi Plant