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CHUGAI PHARMACEUTICAL plunges on profit-taking despite strong Q1 results
CHUGAI PHARMACEUTICAL <4519> shares plunged despite reporting strong earnings. The company announced its first-quarter consolidated results after the market close on April 24, with revenue reaching 321.7 billion yen (up 11.5% year-on-year) and operating profit hitting 158.8 billion yen (up 16.2% year-on-year). Growth was driven by expanding sales of core and new products, alongside increased exports to Roche. However, CHUGAI faced heavy profit-taking as investors viewed the positive news as already priced in.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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