FY2023 Result
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While anticancer agent Lenvima and insomnia treatment Dayvigo continued to grow, and an upfront payment for transfer of future economic rights for elacestrant, a selective estrogen receptor degrader, was recorded, revenue came to the same level as in the previous fiscal year mainly due to recording of an upfront payment in the previous fiscal year for transfer of the commercial rights for antiepileptic agent Fycompa in the United States. Sales milestone payments from Merck & Co., Inc., Rahway, NJ, USA (¥18.9 billion in this fiscal year and ¥16.7 billion in the previous fiscal year) were recorded. Revenue of pharmaceutical business came to ¥691.5 billion (101.0% year on year).
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While expenses related to AD treatment ADUHELM, and Fycompa in the United States were no longer incurred, selling, general and administrative expenses increased mainly due to increase in selling expenses for Leqembi following the launch in the United States and Japan, and increase in shared profit paid to Merck & Co., Inc., Rahway, NJ, USA following Lenvima’s revenue growth.
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While aggressive resource investment was made in Leqembi, research and development expenses decreased due to enhanced efficiency mainly through the partnership model and priority-based resource investment.
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In addition to the above factors, operating profit increased significantly as a result of increase in gross profit due to improvement in product mix, and recording of profit in other income for divestiture of rights mainly in France for antipsychotic Loxapac and the Parkinson's disease treatment Parkinane LP. Segment profit of pharmaceutical business came to ¥343.6 billion (105.5% year on year).
- While profit before income taxes increased significantly, profit for the year decreased due to the impact of income taxes reduction owing to temporary factors in the previous fiscal year.