# Who are Daiichi Sankyo's customers? Who does Daiichi Sankyo earn revenue from?
Canonical: https://valuechain.wiki/daiichi-sankyo · Facet: customers · Updated: 2026-07-12T04:47:15.227617+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Daiichi Sankyo's confirmed revenue counterparties include Merck (MSD, ADC co-development) plus 2 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 3 revenue edges, backed by 5 dated sources, 3 of them primary filings (as of 2026-07-12).

### 글로벌 의료기관·유통 (엔허투·기존제품 자체판매) (high)
- metric: Amount ¥698.4B · 엔허투 글로벌 제품매출(+26.3% YoY) · Daiichi Sankyo FY2025 IR
- note: Own product revenue from territories where Daiichi Sankyo books sales directly (Enhertu booking markets, Japan, established products). FY2025 consolidated revenue was JPY 2,123.0bn (+12.6%), including Enhertu global product sales of JPY 698.4bn (+26.3%). Established products such as the cardiovascular drug Lixiana provide steady cash flow.
- [confirms] Bioxconomy (EN, news, published 2026-05-19) https://www.bioxconomy.com/investment/daiichi-sankyo-charts-aggressive-oncology-expansion-with-14-6bn-target-by-2030: "Enhertu generating combined sales of $4.98 billion in fiscal year 2025 ... targeting more than 2.3 trillion yen ($14.6 billion) in oncology revenue by 2030."
- [confirms] Daiichi Sankyo IR (EN, filing, published 2026-04-28) https://www.daiichisankyo.com/files/investors/library/materials/2026/FY2025%20Financial%20Results%20and%205Year%20Business%20Plan%20Presentation_E.pdf: "Revenue 1,886.3 → 2,123.0 (+12.6%). ENHERTU FY2025 Global Product Sales Results 698.4 Bn JPY, YoY +145.5 Bn JPY (+26.3%)."

### AstraZeneca (엔허투·다토웨이 제휴) (high)
- metric: Amount $538M · FY2025 판매 마일스톤(누적 $5B 얼라이언스 매출 달성) · Daiichi Sankyo FY2025 IR
- note: Co-develops and co-commercialises the ADC cancer drugs Enhertu (Mar 2019) and Datroway (Jul 2020) with AstraZeneca outside Japan, splitting gross profit 50:50. Where AstraZeneca books sales, Daiichi Sankyo receives its profit share, milestones and (in Japan) royalties. On crossing US$5bn in global alliance product sales in FY2025, it received a US$537.5m (JPY 86.0bn) sales milestone. The Enhertu deal is worth up to US$6.9bn and the Datroway deal up to US$6.0bn.
- [confirms] TheBIO (KO, news, published 2026-06-30) https://www.thebionews.net/news/articleView.html?idxno=25944: "On the EU pan-tumor approval, AstraZeneca will pay Daiichi Sankyo a US$25m milestone."
- [confirms] Daiichi Sankyo IR (EN, filing, published 2026-04-28) https://www.daiichisankyo.com/files/investors/library/materials/2026/FY2025%20Financial%20Results%20and%205Year%20Business%20Plan%20Presentation_E.pdf: "Achieved $5 Bn global alliance product sales and received $537.5 Mn (86.0 Bn JPY) as sales milestone. DS pays alliance partners 50% of gross profit for the DXd ADCs."
- [confirms] SEC EDGAR (AstraZeneca) (EN, filing, published 2025-04-04) https://www.sec.gov/Archives/edgar/data/901832/000165495425003894/a5798d.htm: "AstraZeneca and Daiichi Sankyo's Enhertu (trastuzumab deruxtecan) has been approved in the European Union (EU) ... broadens the eligible patient population to those with HER2-ultralow disease."

### 머크 (미국 MSD, ADC 공동개발) (high)  → /merck-co.md
- note: Co-develops three ADCs (patritumab, ifinatamab, raludotatug deruxtecan) with Merck — Merck's upfronts/milestones and shared commercialization are a major revenue source for Daiichi's oncology pipeline.
- [confirms] Merck & Co. (SEC EDGAR) (EN, filing, published 2026-02-24) https://www.sec.gov/Archives/edgar/data/310158/000031015826000063/mrk-20251231.htm: "Patritumab/ifinatamab/raludotatug deruxtecan developed in collaboration with Daiichi Sankyo (Merck 10-K)."

Reverse side: https://valuechain.wiki/daiichi-sankyo/suppliers.md · Ripple: https://valuechain.wiki/daiichi-sankyo/ripple.md

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