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Ono Pharmaceutical's fiscal Q1 profit slips YOY despite increase in revenue

Ono Pharmaceutical Co. Ltd. reported fiscal first-quarter consolidated profit attributable to shareholders of ¥11.77 billion, or ¥22.31 per share, down from ¥13.68 billion, or ¥25.81 per share in the year-ago period.

Revenue for the three months from April through June reached ¥60.91 billion, up from ¥58.76 billion in the previous year. The company's revenue from Japan fell year over year to ¥48.40 billion from ¥53.70 billion, and rose in the Americas and Asia during the period.

Ono booked ¥14.94 billion in research and development costs during the quarter, up from ¥11.12 billion in the year-ago period.

Sales for the cancer blockbuster drug Opdivo jumped 21.4% to ¥19.80 billion in the quarter and are expected to reach ¥74.0 billion for the full fiscal year ending March 31, 2018.

The Japanese pharmaceutical company confirmed its outlook for the full fiscal year: attributable profit of ¥29.0 billion, or ¥54.72 per share, and revenue of ¥236.0 billion.

For the the first six months of the fiscal year, Ono expects revenue to reach ¥112.50 billion with profit attributable to shareholders of ¥10.70 billion, or ¥20.19 per share.

As of Aug. 1, US$1 was equivalent to ¥110.15.