Japan Healthcare Pharmaceuticals ASCO Abstracts

Goldman Sachs analyzes ASCO 2026 abstracts for Japanese pharmaceutical firms, highlighting positive Phase 1/2 data for Ono's ONO-4578 and Takeda's TAK-928 in oncology indications.

Key Takeaways

• 1.ASCO 2026 abstracts show ONO-4578 (Ono Pharmaceutical) improved PFS, OS, and ORR in Phase 2 gastric cancer trials when combined with Opdivo and chemotherapy.
• 2.Takeda's TAK-928 (IBI363) demonstrated significant efficacy in Phase 1 trials for non-small cell lung cancer (NSCLC), particularly in the first-line setting with an 86.4% ORR.
• 3.Daiichi Sankyo's Datroway faces clinical data competition from Sac-TMT but maintains advantages in dosing convenience (Q3W vs Q2W).

Table of Contents

• Ono Pharmaceutical (4528.T): Phase 2 trial of ONO-4578
• Takeda Pharmaceutical (4502.T): Phase 1 trial of IBI363 (TAK-928)
• Daiichi Sankyo (4568.T): Implications from competitor data for Datroway
• Price Target Risks and Methodology
• Disclosure Appendix

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