Terumo exits CSL Plasma supply deal, taking a $610M hit as the Rika line dies

On October 8, 2026, Terumo agreed with CSL Plasma to terminate the supply agreement for the Rik Plasma Donation System, effective that day, and to wind down supply in an orderly transition. The decision followed CSL Plasma's August 2026 notification that it would move certain collection centers to a competitor's technology platform, citing several factors including areas where Rika did not fully meet customer expectations.

The dependence was near-total. CSL Plasma was the primary customer of Terumo's Plasma Innovations business, accounting for the vast majority of its revenue. Terumo began the strategic collaboration in 2021, won US FDA clearance for Rika in 2022, and invested approximately $250 million in the business, including a new Colorado facility built to produce the disposables.

After reassessing the long-term outlook, the additional investment required and expected returns, Terumo concluded it should focus the Blood and Cell Technologies unit on core businesses with larger markets and stronger profitability. It expects roughly $610 million of charges in FY26: about $450 million of non-cash impairments on facilities, Rika equipment and product technology, plus $160 million of transition losses, termination and restructuring costs. FY26 operating margin guidance fell from 20.8% to 13.0%, net profit from ¥193.1 billion to ¥120 billion; the dividend held at ¥36.

About $610M in FY26: $450M non-cash impairments plus $160M transition, termination and restructuring costs; net profit guidance cut to ¥1,200M.

Rika did not fully meet CSL Plasma's expectations, and the anchor customer decided to move collection centers to a competitor's platform.

CSL Plasma accounted for the vast majority of Plasma Innovations revenue, leaving the business without a customer base behind it.

About $250 million had been sunk into dedicated assets — including the Colorado disposables plant — that serve little else.

The future investment needed to keep CSL looked larger than the expected returns, so exiting beat fighting for the contract.

Building a dedicated factory and device for one customer concentrates all the risk: when the anchor account defects, the assets follow it down.

Terumo will execute an agreed transition plan with CSL Plasma and wind down supply gradually, weighing the impact on customers, employees and partners. The $610 million estimate is current and subject to change. FY26 guidance now reflects the charges; the dividend was maintained.