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Home Industry News Kyowa Hakko reports 10.8% rise in first-quarter sales

Kyowa Hakko reports 10.8% rise in first-quarter sales

27th July 2007

Kyowa Hakko Kogo has announced its results for the first quarter of its 2007 fiscal year – the three-month period ended June 2007 – with a 10.8 per cent rise in sales to 94.9 billion yen (385.4 million pounds).

This growth, the company reports, was driven primarily by the robust performance of its pharmaceuticals segment.

Operating income for the quarter fell 7.3 per cent on last year’s figure to 7.5 billion yen as a result of increased research and development expenses, including the in-licensing of oncology compound ARQ197.

Net income for the quarter rose 159 per cent on the first quarter of the 2006 fiscal year, reaching 5.3 billion yen.

Yuzuru Matsuda, president of Kyowa Hakko, said: “We are very pleased with the strong performances in our pharmaceuticals and chemicals businesses that have helped us achieve better than expected results.”

He added that as a consequence of these strong results, the company has increased its earnings forecasts for the full 2007 financial year, while the company is on course for achieving the growth set out in its strategic plans for the medium-term.

In March 2007, Kyowa Hakko announced the completion of a licensing deal with Life Science Pharmaceuticals relating to the development and marketing of its KW-2871 antibody compound.

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