Ono Pharmaceutical missed its revenues targets in the first half of this year, but has still raised its full-year sales targets as it expects a recovery for its top selling drug products.
The company reported total revenues up 4.9% to 73.9 billion yen fractionally below its 75 billion yen target, while operating income rose 7.9% to 31.6 billion yen. A decline in revenues from Kinedak (epalrestat) for diabetic neuropathy fell over 3% to 11.3 billion yen, because of competition from generic products. Sales of Onon (pranlukast), a leukotriene receptor antagonist for the treatment of bronchial asthma and allergic rhinitis, jumped 14.3% to 12.8 billion yen on the back of strong pollen allergies.
Opalmon (limaprost alfadex) for peripheral circulatory disorders brought in 15.9 billion yen, up 15%, while Elaspol (sivelestat) for the treatment of acute lung injury grew 30% to 2.6 billion yen. However, generic competition also held back cerebral thrombosis drug Cataclot (ozagrel) which fell 7% to 3.8 billion yen.
Ono raised its full-year revenue forecast to 149.4 billion yen, saying it expects a strong contribution from Kinedak, Onon and Opalmon.
Updating on its R&D pipeline, Ono said it is awaiting approval in Japan for Staybla (ONO-8025), a treatment for overactive bladder developed with Kyorin Pharmaceutical, while bisphosphonate Onobis (ONO-5920) is in Phase III trials in osteoporosis patients. Onobis is said have fewer upper gastrointestinal side effects than other bisphosphonates, and is being co-developed with Astellas.