Japan Equity Research June 20, 2025 Pharmaceutical Sector Data Book – Valuation, Product Sales Trend Biotechnology & Pharmaceuticals/ Medical Technologies & Services Seiji Wakao, Ph.D. AC seiji.wakao@jpmorgan.com (81-3) 6736-8612 | | | | | P/E(x) | | | | | | P/B(x) | | | | | | EV/EBITDA(x) | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | FY25E | FY26E | FY27E | FY28E | FY29E | FY35E | FY25E | FY26E | FY27E | FY28E | FY29E ...

Group 1 - The core focus is on the increased investment by Sylebra, a hedge fund, in Aeva, a lidar technology company, during its SPAC phase, indicating growing confidence in the company's prospects [1] - The analysis highlights a shift in interest from solar manufacturers and renewable yieldcos to lidar companies, emphasizing the importance of technology, adoption rates, and revenue growth in this sector [1]

Group 1 - AMD reported strong revenue growth despite concerns about its growth trajectory [1] - The company pre-announced an impairment of $800 million for the current quarter [1] - AMD's performance exceeded first-quarter estimates [1]