Sumitomo Pharma shares plunge nearly 16% despite greenlight for Parkinson's treatment [MSNBC.com]
SUMITOMO CHEM UNSP/ADR (SOMMY)
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Source: MSNBC.com
Shares of Japanese drugmaker Sumitomo Pharma fell 15.60% Friday on what appeared to be profit-taking, a day after the governmentendorsed the company's iPS cell-based therapySumitomo Pharma's stock, which rose more than 300% in 2025, hit its highest level since 2019 last week amid growing confidence in its Parkinson's therapy. The therapies rely on induced pluripotent stem (iPS) cells — adult cells that are reprogrammed back into a stem-cell-like state.Stem cells are are capable of self-renewal and work as a repair system, replacing damaged cells and maintaining tissues, allowing them to be used in regenerative medicine."While the treatment could potentially see widespread use and become a blockbuster in Japan and the US over the long term, we expect almost no profit contribution near term," said Citigroup Global Markets Japan's analyst Hidemaru Yamaguchi.Sumitomo's stock has been overheated, and recent gains have been "excessive," he added.According to Japan's Ministry of Health, Lab
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