Santen Pharmaceutical makes ophthalmic drugs, most visibly glaucoma and dry-eye treatments, and it is one of the few Japanese drugmakers with a focused, global eye-care franchise. The 59.1% gross margin and 13.4% ROE say the core products earn their keep, though 0.3% revenue growth tells you the top line has stalled and the investment case rests on margin and pipeline rather than volume. At 14.5x trailing and 15.9x forward earnings, the stock is priced for steady delivery rather than acceleration, and the forward multiple sitting above the trailing one implies the market expects earnings to dip before they recover. The question for us is whether the pipeline and cost actions can restart growth, which is worth a deeper look in the filings before we form a view.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:53 CEST | ACCE price target | ¥1840 | first publication | ¥1722 |
Answered from Santen Pharmaceutical Co., Ltd. fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| 4536.T Santen Pharmaceutical Co., Ltd. | ¥1734.00 | - | - | 14.6x | 13.4% | 69 | 61 |
| OGN Organon & Co. Common Stock | $13.75 | $7 | 111% above | 17.6x | 24.0% | 60 | 64 |
| VIRP.PA Virbac SA | €349.00 | €345 | 1% above | 18.8x | 13.6% | 80 | 60 |
| GLAXO.NS GlaxoSmithKline Pharmaceuticals Limited | ₹2404.70 | - | - | 38.1x | - | 100 | 62 |
| GRFS Grifols S.A. American Depositary Shares | $7.56 | $10 | 25% below | 9.9x | 6.9% | 53 | 57 |
| 4528.T Ono Pharmaceutical Co., Ltd. | ¥2499.00 | - | - | 15.4x | 9.3% | 82 | 73 |
| GRF.MC Grifols | €10.17 | €8 | 26% above | 15.4x | 6.9% | 53 | 64 |
Where 4536.T ranks against its sector peers on each metric.