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Eisai posts rise in 9-month earnings, revenue hit by drug price revision

Eisai Co. Ltd.'s profit for the nine months ended Dec. 31, 2016, came in at ¥38.42 billion, or ¥134.14 per share, up from the year-ago period.

Operating profit rose 18.5% year over year to ¥57.64 billion, results showed. The Japanese pharmaceutical company attributed this rise to improved performance and efficiency in operations, milestone payments for joint research and development projects, as well as a one-off income following the acquisition of EA Pharma Co. Ltd. shares.

Revenue slipped 4% year over year to ¥409.22 billion due in part to Japan's drug pricing revision and foreign currency fluctuations, the company said.

The company's guidance for the fiscal year ending March 31, 2017 remains unchanged.

Eisai hopes to book ¥41.3 billion, or ¥144.43 per share, in profit for the year with revenues coming in at ¥548 billion.