Shionogi & Co. Ltd. reported profit attributable to owners in the nine months ended Dec. 31, 2017, at ¥79.73 billion, up 18% from ¥67.54 billion in the year-ago period.
Diluted earnings per share for the April-December 2017 period was ¥246.30, up from ¥205.20 in the same period in 2016.
Net sales for the nine-month period rose 2.7% year over year to ¥263.36 billion from ¥256.53 billion.
The Japanese company saw a 10.6% year-over-year drop in domestic sales partly due to an early market entry of a generic of cholesterol lowering drug Crestor, and the transfer of marketing rights of some products.
Revenue from its overseas subsidiary and exports also fell 23.8% due to decline in the sales of generics at its U.S. unit Shionogi Inc. However, the growth in contract manufacturing sales, royalty income from anti-HIV drugs Tivicay and Triumeq, and milestone payments from Roche Holding AG for baloxavir marboxil, an anti-influenza drug candidate, offset the slowdown in the domestic market and the company recorded a net revenue increase for the period.
The company's forecast for the fiscal year ending March 31, 2018, remains unchanged with profit at ¥101 billion, up 20.4% year over year, and net sales up 1.8% from the year-ago period at ¥345 billion. EPS for the full fiscal year is expected at ¥316.96.
The company expects to increase the annual dividend to ¥76 for the fiscal year ending March 31, 2018, from ¥72 in the prior fiscal year.
As of Feb. 2, US$1 was equivalent to ¥110.39.
