Seikagaku : Financial Results for the First Quarter of Fiscal Year 2023
August 04, 2023 at 03:58 am EDT
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Exploring the Innovative
Promise of Glycoscience
Financial Results
for the 1st Quarter of
Fiscal Year 2023
（TSE：4548）
Contents
1Q Results
P3
Net Sales
P3-7
Income
P8
Trend in R&D Expenses
P9
< Cautionary Notes >
Exploring the Innovative
Promise of Glycoscience
Research and Development
P10
SI-6603
P11
(Lumbar disc herniation)
SI-614
(Dry Eye)
P12
SI-722
P13
(Interstitial cystitis and bladder pain syndrome)
SI-449
(Adhesion Barrier)
P14
Basic Policy on Profit Distribution P15
AppendixP16
This material contains forward-looking statements regarding future management strategies or performance forecasts. These statements are based on judgments derived from information that is currently available to Seikagaku and are subject to risk and uncertainty. Actual results and developments may differ significantly from these forward-looking statements due to various factors.
Information about pharmaceutical products or medical devices (including products currently in development) included in this material is not intended to constitute an advertisement or medical advice.
2
Overview for 1Q of FY 2023
Exploring the Innovative Promise of Glycoscience
1Q FY2023
Year-on-Year
(Reference)
Comparison with Forecasts
Results
Change
% of Change
Change
Degree of
(Millions of Yen)
Progress
Net sales
9,661
+1,353
+16.3%
32,550
29.7%
Operating
1,298
+172
+15.3%
100
1,298.8%
Income
Ordinary
1,959
+244
+14.3%
1,550
126.4%
Income
Net Income
1,887
+394
+26.4%
1,450
130.2%
R&D Expenses
1,738
+50
+3.0%
7,200
24.1%
(excluding royalty
income)
(19.4%)
(22.6%)
Rate (1US$)
¥137.37
+¥7.80
¥130.00
Average Exchange
1Q FY2023 Results 1Q FY2022 Results
(Reference)
FY2023 Forecasts
Net Income per Share
¥34.62
¥26.62
¥26.59
3
Net sales by Business Segment (1Q of FY2023)
Exploring the Innovative Promise of Glycoscience
1Q FY2023
Year-on-
% of
(Millions of Yen)
Results
Year
Change
Net sales
9,661
+1,353
+16.3%
Pharmaceuticals
7,172
+1,683
+30.7%
Domestic
3,312
+347
+11.7%
Pharmaceuticals
Overseas
2,324
+536
+30.0%
Pharmaceuticals
Bulk Products
835
+102
+14.0%
/CDMO
Royalty Income
699
+697
ー
LAL Business
2,488
-330
-11.7%
(Overseas sales)
5,820
+1,053
+22.1%
Domestic Pharmaceuticals
ARTZ（Joint-function improving agent）
Slight market contraction (-1.9%)
Deliveries to medical institutions up thanks to switching from competing products (+6.6%)
Market share up (+5.4 pt)
Seikagaku sales up on higher shipment volume, despite the impact of NHI drug price reductions
JOYCLU（Joint-function improving agent）
Seikagaku sales down due to a shipping schedule adjustment
Clinical research to identify the cause of side effects conducted
Going forward, analysis of data obtained from the research and consideration of proposals that will lead to correct use
Foreign exchange impact on overall net sales ： approx. +510million yen
Net sales by Business Segment (1Q of FY2023)
Exploring the Innovative Promise of Glycoscience
1Q FY2023
Year-on-
% of
(Millions of Yen)
Results
Year
Change
Net sales
9,661
+1,353
+16.3%
Pharmaceuticals
7,172
+1,683
+30.7%
Domestic
3,312
+347
+11.7%
Pharmaceuticals
Overseas
2,324
+536
+30.0%
Pharmaceuticals
Bulk Products
835
+102
+14.0%
/CDMO
Royalty Income
699
+697
ー
LAL Business
2,488
-330
-11.7%
(Overseas sales)
5,820
+1,053
+22.1%
Domestic Pharmaceuticals
OPEGAN series（Ophthalmic viscoelastic devices）
Market growth trend accompanying population aging (+5.4%)
Deliveries to medical institutions up due to the impact of limited shipments of competing products (+5.7%)
Market share at prior-year level (+0.1 pt)
Seikagaku sales up sharply on higher shipments, despite the impact of NHI drug price reductions
MucoUp
（Submucosal injection agent for endoscopic surgery）
Seikagaku sales down due to a sales partner inventory adjustment
HERNICORE (Treatment for lumbar disc herniation)
Deliveries to medical institutions and Seikagaku sales at the prior-year level
＊ Foreign exchange impact on overall net sales ：
5
approx. +510million yen
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Disclaimer
Seikagaku Corporation published this content on 03 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 07:57:01 UTC.
SEIKAGAKU CORPORATION is principally engaged in the research, development, purchase, manufacture and sale of pharmaceutical products and limulus amebocyte lysate (LAL). The Company operates in two business segments. The Pharmaceutical business segment provides hyaluronan-based medicines for joint function improvement, ophthalmic operation boosters and submucosal injection materials for endoscopes, as well as drug substances for various pharmaceuticals. The LAL business segment provides reagents for measuring endotoxin.
SEIKAGAKU CORPORATION 
