Kissei Pharmaceutical revised down its full-year earnings forecast for the fiscal year ending March 2027. The company booked an extraordinary loss in light of the Ministry of Health, Labour and Welfare's ongoing procedures, including possible cancellation of Tavneos' marketing approval, following reliability issues with materials submitted at the time of approval for the vasculitis treatment. Net income is now expected to be in the ¥10 billion range, down ¥3.3 billion from the previous forecast.
Kissei Pharmaceutical revised its full-year consolidated earnings forecast for the fiscal year ending March 2027. The company is expected to record an extraordinary loss related to Tavneos, resulting in a reduction in its net income forecast from the previous estimate. The revision is reportedly related to reliability issues with materials used in the approval review of the vasculitis treatment.
The Ministry of Health, Labour and Welfare is reportedly proceeding with administrative procedures, including cancellation of Tavneos' marketing approval, and the focus is on how it will respond going forward regarding the approval review. Kissei Pharmaceutical explained that it revised its financial forecasts in response to the situation.
The company, based in Matsumoto, Nagano Prefecture, published new financial projections that include the recognition of an extraordinary loss as part of this revision. Future disclosures are expected to include additional information on other financial indicators and the scope of the impact.