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Daiichi Sankyo Co Ltd on Monday reported a rise in first-half revenue thanks to the success of its cancer treatment Enhertu, leading the firm to up its full-year outlook.
In the six months ended September 30, the Japanese pharmaceutical company reported a pretax profit of JP¥91.27 billion, around $614.1 million.
This represented an increase of 6.2% against the JP¥85.96 billion achieved a year prior.
Profit attributable to the owners of the company, meanwhile, fell by 6.7% to JP¥58.31 billion from JP¥62.47 billion the previous year. Daiichi Sankyo blamed this on an increase of income taxes.
Earnings per share dropped to JP¥30.42 from JP¥32.59.
Revenue in the half climbed 15% to JP¥607.80 billion from JP¥529.97 billion the previous year. This was due to growth in its global mainstay products, such as cancer treatment Enhertu and anticoagulant Lixiana.
Daiichi Sankyo also noted a positive effect from foreign exchange of JP¥43.4 billion as a result of the depreciation of the yen.
Looking ahead, Daiichi Sankyo said it expects revenue of JP¥1.250 trillion in the financial year ending March 31, with total profit of JP¥100.0 billion.
Previously, the company expected financial 2023 revenue of JP¥1.150 trillion and profit of JP¥83.0 billion. The upward revision was based on a strong performance of Enhertu and the positive effect from the depreciation of the yen, it explained.
In the last financial year, financial 2022, Daiichi Sankyo reported revenue of JP¥1.044 trillion and total profit of JP¥66.97 billion.
Daiichi Sankyo closed 2.7% higher at JP¥4,767.00 on Monday in Tokyo.
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