Seikagaku Posts 4QFY16 Revenue

by Julie A. Vetalice on May 17, 2017

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Seikagaku posted 4QFY16 revenue of ¥7.5BB (~US $75.6MM), -6.6% vs. the prior year. (Period ended 3/31/17)

	1Q17	1Q16	$ Change	% Change
Orthobiologics	$75.6	$80.9	-$5.3	-6.6%

Quarterly performance highlights:

Revenue decline attributed to impact of yen appreciation and government-dictated drug price reductions in Japan, despite higher sales volumes in Japan and the U.S.
Domestically, deliveries of ARTZ to medical institutions increased slightly due to strong marketing and new syringes introduced in 2Q16, though sales to marketing partner decreased due to price reductions
Ex-Japan, U.S. Gel One sales remain strong, though sales to partner fell slightly due to yen appreciation and decline in local prices, despite an increase in shipment volume
U.S. SUPARTZ FX sales declined only slightly amid competition from other multi-injection products, and sales to partner were impacted by yen appreciation
China ARTZ sales to partner decreased on governmental price controls and yen appreciation
Initiated a Japan Phase III clinical trial in 1Q to study SI-613 hyaluronic acid + NSAID to treat knee OA, partnered with Ono Pharmaceutical for co-development and marketing in the region

Source: Seikagaku Corporation

Seikagaku posted 4QFY16 revenue of ¥7.5BB (~US $75.6MM), -6.6% vs. the prior year. (Period ended 3/31/17)

Q17
1Q16
$ Change
% Change

Orthobiologics
$75.6
$80.9
-$5.3
-6.6%

Quarterly...

Seikagaku posted 4QFY16 revenue of ¥7.5BB (~US $75.6MM), -6.6% vs. the prior year. (Period ended 3/31/17)

	1Q17	1Q16	$ Change	% Change
Orthobiologics	$75.6	$80.9	-$5.3	-6.6%

Quarterly performance highlights:

Revenue decline attributed to impact of yen appreciation and government-dictated drug price reductions in Japan, despite higher sales volumes in Japan and the U.S.
Domestically, deliveries of ARTZ to medical institutions increased slightly due to strong marketing and new syringes introduced in 2Q16, though sales to marketing partner decreased due to price reductions
Ex-Japan, U.S. Gel One sales remain strong, though sales to partner fell slightly due to yen appreciation and decline in local prices, despite an increase in shipment volume
U.S. SUPARTZ FX sales declined only slightly amid competition from other multi-injection products, and sales to partner were impacted by yen appreciation
China ARTZ sales to partner decreased on governmental price controls and yen appreciation
Initiated a Japan Phase III clinical trial in 1Q to study SI-613 hyaluronic acid + NSAID to treat knee OA, partnered with Ono Pharmaceutical for co-development and marketing in the region

Source: Seikagaku Corporation