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Ono Pharmaceutical 9-month profit drops; revenue increases

Ono Pharmaceutical Co. Ltd. said its profit for the nine-month period ended Dec. 31, 2017 decreased, while revenue grew.

Profit attributable to owners of the parent company dropped to about ¥41.44 billion from about ¥42.47 billion a year ago.

The Japanese pharmaceutical company's diluted EPS was ¥79.74, down from ¥80.13 for the nine months ended Dec. 31, 2016.

Meanwhile, revenue increased to ¥200.57 billion from about ¥188.85 in the previous year.

Ono Pharmaceutical upwardly revised its full-year forecast for the period ending March 31, and expects revenue to rise 2.4% to ¥260 billion and profit attributable to shareholders to grow 8.9% to ¥43 billion. The company attributed the revisions to Opdivo sales, licensing and related payments from U.S. partner Bristol-Myers Squibb Co.

As of Feb. 1, US$1 was equivalent to ¥109.45.