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Ono Pharmaceutical FY'18 earnings down YOY

Ono Pharmaceutical Co. Ltd. said profit for the fiscal year ended March 31 fell year over year, while revenue rose.

The Osaka, Japan-based drugmaker said profit attributable to owners of the parent amounted to ¥50.28 billion, down from ¥55.79 billion the preceding year.

Diluted EPS for the fiscal year was ¥96.99, down from ¥105.26 in the year-ago period.

Consolidated revenue came in at ¥261.84 billion, up from ¥244.80 billion in 2017.

Research and development expenses for the full year reached ¥68.82 billion, up from ¥57.51 billion a year earlier.

For the year ending March 31, 2019, Ono Pharmaceutical expects consolidated revenue to reach ¥277 billion, a year over year increase of 5.8%. The company expects an increase in the use of Opdivo for treating renal cell cancer and head and neck cancer despite price reduction and policies to promote generics.

The company also expects royalty revenue for Opdivo to increase. Ono also expects a rise in sales revenue for its main products Forxiga, Orencia and Parsabiv.

Meanwhile, Ono expects profit attributable to the parent for the year ending March 31 to hit ¥50.50 billion, a growth of 0.4% year over year.

As of May 9, US$1 was equivalent to ¥109.74.