Daiichi Sankyo reports level sales in Q2 despite growth for Enhertu, Lixiana

Headline results for the second quarter:

  • Revenue: JPY 243.2 billion ($2.3 billion), versus JPY 230.3 billion ($2.2 billion)
  • Profit: JPY 19.8 billion ($189 million), versus JPY 21.1 billion ($202 million)

Note: All changes are versus the prior-year period unless otherwise stated

What the company said:

Daiichi Sankyo stated that it achieved growth with "mainstay products" such as Enhertu and Lixiana, as well as the recognition of JPY 1 billion ($10 million) in revenue from an upfront payment by AstraZeneca regarding their global collaboration on TROP2-directed antibody-drug conjugate DS-1062. However, the Japanese drugmaker noted that quarterly revenues remained about level with the year-ago period as a result of the effects of the COVID-19 pandemic, as well as drug price revisions in Japan and the termination of a vaccine sales cooperation.

Other results:

  • Lixiana: JPY 40.4 billion ($386 million), versus JPY 36.5 billion ($349 million) in the year-ago period
  • Olmesartan: JPY 22.4 billion ($214 million), versus JPY 23.2 billion ($222 million) in the year-ago period
  • Enhertu: JPY 9.8 billion ($94 million), versus JPY 2.5 billion ($24 million) in the year-ago period
  • Prasugrel: JPY 4.2 billion ($40 million), versus JPY 4.4 billion ($42 million) in the year-ago period
  • Japanese revenue: JPY 119.9 billion ($1.1 billion), versus JPY 122 billion ($1.2 million) in the year-ago period
  • North America revenue: JPY 44.5 billion ($425 million), versus JPY 39.5 billion ($378 million) in the year-ago period, boosted by sales of Enhertu, which was launched in the US in January for previously treated HER2-positive breast cancer 
  • European revenue: JPY 26.6 billion ($254 million), versus JPY 21.1 billion ($202 million) in the year-ago period, with sales lifted by "steady growth" for Lixiana and as a result of having recorded a gain from the transfer of some products of Daiichi Sankyo's France unit
  • Asian, South American & Central American revenue: JPY 25.8 billion ($247 million), versus JPY 24.6 billion ($235 million) in the year-ago period, with sales of certain products declining in China

Looking ahead:

For the fiscal year ending March 2021, Daiichi Sankyo now anticipates revenues of JPY 960 billion ($9.2 billion) and profit of JPY 53 billion ($507 million). The drugmaker had previous forecast sales of JPY 970 billion ($9.3 billion), while profit was estimated at JPY 56 billion ($536 million).

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