Ono Pharmaceutical Posts Record Net Profit in April-Sept.

Economy

Osaka, Nov. 2 (Jiji Press)--Japan's Ono Pharmaceutical Co. <4528> has reported a record net profit for April-September thanks to strong sales related to its blockbuster cancer drug Opdivo.

The net profit for the first half of fiscal 2018 grew 36.0 pct from a year earlier to 28,845 million yen, according to the company's earnings report released Thursday. The company also revised up its sales and net profit forecasts for the full year to next March.

Opdivo sales grew 11.9 pct to 45.4 billion yen. Increased royalty revenue from foreign companies also contributed to the higher earnings.

Opdivo was developed based on research by Japanese scientist Tasuku Honjo, who won this year's Nobel Prize in Physiology or Medicine.

The price of Opdivo was halved in Japan in February last year and lowered further in April this year following price reviews by the government.

[Copyright The Jiji Press, Ltd.]

Jiji Press