The following is a summary of the Daiichi Sankyo Company, Limited (DSKYF) Q4 2023 Earnings Call Transcript:
Financial Performance:
Daiichi Sankyo's FY 2023 revenue increased 25.3% year-on-year to ¥1.6017 trillion, led by its oncology business.
Core operating income grew 59.3% year-on-year to ¥195.3 billion, operating income increased by 75.5% to ¥211.6 billion, and net income rose by 83.8% to ¥207 billion.
They expect a revenue of ¥2.1 trillion for FY 2025 which is an increase by ¥100 billion from the previous year due to oncology sales.
The core operating profit ratio is targeted to be 40% before R&D expense, and a DOE of 8.5% or more is expected, surpassing their previous goal of 8%.
The company reported FY 2023 income of ¥235 billion before tax.
Business Progress:
Daiichi Sankyo secured approval for and initiated the promotion of ENHERTU, contributing majorly to its oncology business growth.
The company has submitted applications for regulatory approval in the US and Europe for non-squamous, non-small cell lung cancer.
The company's strategic alliance with Merck is expected to boost oncology sales revenue.
The company aims to be among the top ten companies in oncology by 2030 and plans to invest ¥1 trillion in R&D for FY 2024 and 2025 to achieve this.
The company has discontinued the development of DS-1594, the Menin binding inhibitor, due to lower enrollment and interest among patients and investigators.
Daiichi Sankyo achieved an increment in sales revenue that exceeded the initial expectations, particularly due to the company's major products that recorded solid growth.
More details: DAIICHI SANKYO COMPANY LIMITED IR
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