Chugai Pharmaceutical (4519): Foundayo (orforglipron) prescription trends (IQVIA), Week 27 (week ending October 9)

J.P. Morgan reports that IQVIA updated Foundayo prescription data for Week 27 (week ending October 9) on October 16. Total prescriptions reached 60,151, up 4% week over week, or 2,231 prescriptions. While prescriptions for competitor drugs were generally flat overall, Foundayo continued to show steady growth. Short-term fluctuations have occurred due to variability in the mail-order channel, but overall prescriptions continue to expand steadily. The firm maintains an Overweight rating and a December 2026 price target of ¥11,000, based on a DCF model assuming a 1.0% terminal growth rate and a 7.2% WACC; the target equates to 17.1x FY2027 EPS of ¥401.