Sumitomo Dainippon Pharma Annual Report 2017
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Net salesOperating incomeNet income attributable to owners of the parent403.2FY2015result36.924.7411.6FY2016result52.829.08.4ChangeYear on year15.84.32.1Rate of change (%)42.917.4(Billions of yen)We saw new records set in both sales and profit, thanks to steady growth in our North America business.Looking back over fiscal 2016 (ended March 31, 2017), how would you rate the Group’s business performance?The consolidated financial results for fiscal 2016, which posted new records in sales and profit, recorded ¥411.6 billion in net sales, which was a 2.1% improvement year on year, ¥52.8 billion in operating income, up 42.9%, and ¥29.0 billion in net income attributable to owners of the parent. That represented a 17.4% improvement on the previous year’s result. Regarding returns to shareholders, since we achieved our Mid-term Business Plan’s ¥50 billion target for operating income a year ahead of schedule, we were able to add a ¥2 special dividend onto our ordinary dividend, for a total dividend per share of ¥20.In fiscal 2016, LATUDA® surpassed US$1.2 billion in North American sales, and we also saw strong sales gains for our antiepileptic drug APTIOM® and the long-acting beta-agonist BROVANA®. Not only did sales of these products rise, but selling costs shrank due to the impact of exchange rates, leading to a substantial increase of ¥18.1 billion in segment profit. In Japan, sales expanded for strategic and new products, including AIMIX®, a therapeutic agent for hypertension, TRERIEF®, a therapeutic A1Q1agent for Parkinson’s disease, and Trulicity®, a GLP-1 receptor agonist. As a result, overall domestic performance surpassed that for the previous fiscal year on a volume basis; however, on a value basis, segment income declined ¥3.2 billion as a result of the impact of NHI price revisions. In China, although sales of our mainstay product MEROPEN®, a carbapenem antibiotic, grew and revenue improved on a yuan basis, exchange rate impacts led to lower revenue on a yen basis and segment income contracted by ¥1.2 billion.In terms of R&D expenditure, higher development costs for napabucasin in Oncology, and higher development costs for late-stage development products accompanying acquisitions, led to material increases, though the effect of exchange rates resulted in an overall ¥1.2 billion decrease.Consequently, whereas fiscal 2016 presented difficult circumstances in Japan and China due to NHI price revisions and the impact of exchange rates, solid growth in our North America business allowed us to achieve results in excess of our initial plans. I believe that this was due to the tireless efforts made by all of our Group directors and employees.That said, within our industry, we still have not achieved a sufficiently high operating margin and we also face the so-called “LATUDA cliff,” which is a decline in business performance due to the impending expiry in 2019 of the exclusivity period for LATUDA®. Hence, we will continue to focus serious attention on developing an effective “post-LATUDA” strategy and working hard to further strengthen our business foundation.14Sumitomo Dainippon Pharma Co., Ltd. Annual Report 2017

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