Novartis envisions the drug, the first oral monotherapy for PNH, as a “pipeline in a pill” that could see $3bn in peak sales, with a Phase III readout in IgAN in October and one in C3G expected this month.

While the weaker yen boosted the top line for Japanese pharma companies with a strong global presence in the fiscal first half, it also raised reported costs. Several firms reported strong growth for mainstays, while holding out high hopes for selected new drugs with blockbuster potential. But some other products underperformed for unexpected reasons.

Several small biopharmas are launching new drugs independently, sales of some of those drugs appear to be off to a slow start.

Hanmi aims to commercialize its GLP-1 obesity treatment, the first one from its ambitious HOP project, within three years as it moves to Phase III in Korea.