FY2022 Result
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While global brands such as anticancer agent Lenvima continued to grow, revenue decreased mainly due to decrease in sales milestone payments from Merck & Co., Inc., Rahway, NJ, USA (¥16.7 billion in this fiscal year and ¥69.2 billion in the previous fiscal year) as well as the recording of an upfront payment (¥49.6 billion) from Bristol Myers Squibb (the U.S.) under strategic collaboration for antibody drug conjugate MORAb-202 in the previous fiscal year. Revenue of pharmaceutical business increased significantly to ¥684.4 billion (110.9% year on year).
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Selling, general and administrative expenses decreased due to significant decrease in expenses related to AD treatment ADUHELM following the amendment of collaboration agreements, despite increase in shared profit paid to Merck & Co., Inc., Rahway, NJ, USA following Lenvima’s revenue growth.
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While efficiency was enhanced through the partnership model, research and development expenses stood at the same level as in the previous fiscal year due to factors such as aggressive resource investment with good progress of clinical trials for Leqembi and the depreciation of the Japanese yen.
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As a result of the above, although operating profit decreased, segment profit of pharmaceutical business increased significantly achieving ¥325.6 billion (125.3% year on year).