Shionogi posts strong fiscal year 2011 results; shows efficacy of Kapvay ER

Japanese drug major Shionogi (TKO: 4507) reported its unconsolidated fiscal year 2011 (ended March) results showing: 9.4% growth in revenues to 249.99 billion yen ($3.1 billion); a 22.7% rise in operating profit to 60.44 billion yen; a 20.8% increase in current profit to 60.34 billion yen; and 2.2% growth in net income to 41.66 billion yen, or 124.39 yen a share.

Net sales increased 1.4% compared with the previous fiscal year to 282.35 billion yen. In core prescription drugs in Japan, sales of Crestor (rosuvastatin), an anti-hyperlipidemia treatment, and Irbetan (irbesartan, a hypertension treatment, grew substantially, and Cymbalta (duloxetine), an antidepressant drug launched in April 2010, contributed to the increase in turnover. Sales of other strategic drugs also increased, and overall prescription drugs rose 4.2% year-on-year. In addition, royalty income increased significantly due to overseas sales growth of Crestor by AstraZeneca. On the other hand, sales decreased at US subsidiary Shionogi Inc.

Analysis of operational results