Kyowa Hakko Kirin announces better-than-expected 2010 results

Kyowa Hakko Kirin has published its financial report for 2010, a year which saw the company exceed its internal sales and profit estimates.

Net sales grew by 1.7 percent during the 12 months to 413.7 billion yen (3.17 billion pounds), while operating and net income levels rose by 42.5 percent and 121.1 percent respectively.

The company experienced an improved performance for its key pharmaceuticals division, on which it will be placing an increased focus during the next year.

This process will include the sale of its Kyowa Hakko Chemical business division in March 2011, which will impact the firm's financial performance for the next 12 months.

Yuzuru Matsuda, president and chief executive officer of Kyowa Hakko Kirin, said: "We will continue to promote the rapid realisation of our strengths in antibody pharmaceuticals with the aim of becoming a world-class research and development-based life sciences company."

Last month, the firm published early-stage clinical trial data on a new treatment for cutaneous T-cell lymphoma, showing the drug's potential efficacy.