Santen Announces New Medium-Term Management Plan (FY2023-FY2025)

April 13, 2023, Osaka, Japan - Santen Pharmaceutical Co., Ltd. (hereinafter “Santen”) announced today that it has formulated a medium-term management plan covering the period from FY2023 to FY2025. Since Takeshi Ito took office as President and CEO in September 2022, Santen has begun to promote measures for regrowth from three perspectives: improving profitability, establishing pillars for growth, and building an optimal operational and organizational structure.

1.Objectives of new Medium-Term Management Plan
Santen will focus on maximizing its strength in the prescription pharmaceuticals business. The company will fundamentally review its strategy and organization to maximize its people and patient-value contribution in the prescription pharmaceutical business.

2.Basic policy for growth
Until FY2025, Santen will maximize earnings centered on two axes: structural reforms and maximizing regional sales. The company will boost sales based on a clear regional strategy and strengthen commercial excellence on a global basis. Santen will work on business development to maximize sales of each regional business and new businesses that can generate synergies with the prescription pharmaceuticals business. From FY2026 onward, Santen will leverage its revamped organizational capabilities to provide new value contribution to people and patients from its large-scale pipelines, including myopia and ptosis, and enter a new growth phase. In addition to strengthening the leadership team which takes a key role in strategy planning and execution, Santen will revamp its operational model and the business administration management and human resources development systems that support it so that the entire company can work together to ensure the execution of the medium-term management plan.

■Promoting structural reforms
Maximize streamlining of Americas: Optimize based on current situation of continued ongoing losses and pipelines
Investment review based on financial discipline: Scrutinize investments by carefully examining IT and other large-scale investments
Cost optimization: Control costs by means of "zero-based" budgeting
Productivity improvement: Review the productivity of each organizational function

■Maximizing regional sales through three pillars
・Strengthen Commercial Excellence on a global basis
・Develop business which maximizes sales of each regional business (including products marketed by other companies and regional products)
・Cultivate new businesses that contributes to maximizing sales in prescription pharmaceuticals business

■Generate sales in new areas by launching large-scale pipelines (FY2026~)
・Create new value contribution opportunities through out-of-pocket treatments such as myopia and ptosis
・Sufficiently invest in R&D and business development to drive development and explore new pipelines

3.FY2025 company-wide numerical targets and Key Performance Indicators (KPIs)
Santen is committed to steady improvement in profitability, including growth in overseas revenue per employee, and delivering stable dividends


RevenueJPY 280.0 billion
Core operating profitJPY 56.0 billion
Core operating profit margin20%
Revenue growth ratio per overseas employee
(excluding FX impact)
Growth of over 7%
(CAGR for FY22 FCST -FY25)
Core ROE13%
Core EPS Growth Rate over 10%
(CAGR for FY22 FCST -FY25)
Shareholder ReturnsGoal to increase annual dividend with the current JPY 32 as the minimum and conduct opportunistic share buybacks as capital adjustment

4.Capital allocation and shareholder return
Santen will build a highly profitable structure, strengthen its ability to generate cash flow and invest for future growth, giving priority to R&D and business development.

Regarding shareholder returns, Santen will set the annual dividend at the lower limit of JPY 32 and while taking into consideration investment opportunities and the share price situation, will flexibly return profits through opportunistic share buybacks.

5.Environmental, Social and Governance (ESG) Initiatives
As a specialized company dedicated to eye health, Santen will continue to contribute to patients and society through its business activities.

■ Current ESG Materiality:
5-1: Development and stable supply of products and services of social significance
5-2: Encouragement of an organizational culture that promotes value creation
5-3: Strengthening governance, contributing to the realization of fair and equal society
5-4: Conservation of the global environment

Of the above ESG materiality, Santen has identified “market penetration of products with social significance” (component of 5-1), which will lead to the realization of the medium-term management plan and future sustainable growth, and “human resource development and promotion” (component of 5-2) which will support and drive business growth, as the most important issues to address. Santen will set specific KPIs and disclose them through the Integrated Report, among other means, in the future

Collaterals and presentations

About Santen
As a specialized company dedicated to eye health, Santen carries out research, development, marketing, and sales of pharmaceuticals, over-the-counter products, and medical devices, and its products now reach patients in over 60 countries and regions. Toward realizing “WORLD VISION” (Happiness with Vision), the world Santen ultimately aspires to achieve, as a “Social Innovator”, Santen aims to reduce the social and economic opportunity loss of people around the world caused by eye diseases and defects by orchestrating and mobilizing key technologies and players around the world. With scientific knowledge and organizational capabilities nurtured over a 130-year history, Santen provides products and services to contribute to the well-being of patients, their loved ones and consequently to society.
For more information, please visit Santen’s website (

Corporate Communications
Santen Pharmaceutical Co., Ltd.