JCR PHARMACEUTICALS CO., LTD. FY2022 Second-Half Results Briefing Session -Financial Results-
May 12, 2023
JCR Pharmaceuticals Co., Ltd.
【Securities code】 4552, PRIME, TSE
Copyright © 2023 JCR Pharmaceuticals Co., Ltd. All rights reserved.
Financial Highlights (FY2022 Results)
Decrease in sales and profit due to decrease in license revenue and AZD1222 bulk solution manufacturing
Net sales： 34,343 million yen, Year-on-year (32.8)％
Operating income： 4,975 million yen, YoY (75.0)％
Ordinary income： 5,418 million yen, YoY (73.6)％ Profit : 3,772 million yen, YoY (74.0)％
■ Core products: Sales of IZCARGO® increased YoY but sales for GROWJECT® and treatments for renal anemia decreased YoY due to the impact of NHI price revisions.
■ SG&A expenses decreased YoY as a result of accumulated cost-cutting despite an increase in personnel expenses due to an increase in employee numbers. Meanwhile, R&D expenses increased YoY due to steady progress.
Copyright © 2023 JCR Pharmaceuticals Co., Ltd. All rights reserved.
Financial 1
Consolidated Results | （ Unit: million yen ） | ||||||
FY2021 | FY2022 | Reference | |||||
(Apr. 1, 2022-Mar. 31, 2023) | |||||||
Consolidated | (Apr. 1, 2021- | ||||||
Year-on- Forecast | |||||||
Mar. 31, 2022) | |||||||
◆Operating income 4,975 million yen
Year-on-year: (14,958) million yen
A | B | year | (after | ||
(B-A)/A | revision) | ||||
Net sales | 51,082 | 34,343 | (32.8)% | 34,200 | |
Cost of sales | 10,461 | 8,886 | (15.1)% | ー | |
Gross profit | 40,620 | 25,456 | (37.3)% | ー | |
SG&A | 13,511 | 11,678 | (13.6)% | 11,500 | |
R&D expenses | 7,175 | 8,802 | ＋22.7% | 8,900 | |
Operating income | 19,933 | 4,975 | (75.0)% | 5,000 | |
Ordinary income | 20,512 | 5,418 | (73.6)% | 5,200 |
FY2021 Net sales Cost of sales SG&A R&D Expenses FY2022
19,933
(16,738)
- 1,574 + 1,832
(1,626)
4,975
（ Unit: million yen ）
Profit attributable to | 14,507 | 3,772 | (74.0)% | 3,800 |
owners of parent/Profit | ||||
Ratio of cost of sales | 20.5% | 25.9% | ＋5.4% | |
Ratio of cost of R&D | 14.0% | 25.6% | ＋11.6% | |
Operating income ratio | 39.0% | 14.5% | (24.5)% | |
（Reference) | ||||
R&D expenses* | 7,671 | 9,480 | ＋23.6% | ー |
*R&D expenses before deducting contribution amount by collaborative R&D destinations
Main change factors (YoY)
- Decrease in net sales due to decrease in license revenue and end to AZD1222 bulk solution manufacturing
(16,738) million yen
- Decrease in cost of sales accompanying decrease in net sales
+1,574 million yen
- SG&A expenses improved due to accumulated cost-cutting
+1,832 million yen
• Proactive investment in R&D
(1,626) million yen
Copyright © 2023 JCR Pharmaceuticals Co., Ltd. All rights reserved.
Financial 2
Breakdown of Net Sales (Consolidated)
（ Unit: million yen ） | |||||||
FY2021 | FY2022 | Reference | |||||
(Apr. 1, 2021- | |||||||
(Apr. 1, 2022-Mar. 31, 2023) | |||||||
Mar. 31, 2022) | |||||||
品目 | |||||||
Composition | Composition | Year-on-year | Forecast | ||||
(after | |||||||
ratio | ratio | (B-A)/A | |||||
revision) | |||||||
GROWJECT® | 12,945 | 25.3% | 12,261 | 35.7% | (5.3)% | 12,000 | |
IZCARGO® | 3,003 | 5.9% | 4,428 | 12.9% | ＋47.4% | 4,500 | |
Treatments for renal | 5,875 | 11.5% | 4,696 | 13.7% | (20.1)% | 4,750 | |
anemia | |||||||
Epoetin Alfa BS Inj. | 2,876 | 5.6% | 2,710 | 7.9% | (5.8)% | 2,650 | |
[JCR] | |||||||
Darbepoetin Alfa BS | 2,998 | 5.9% | 1,986 | 5.8% | (33.7)% | 2,100 | |
Inj. [JCR] | |||||||
TEMCELL® HS Inj. | 3,497 | 6.9% | 3,404 | 9.9% | (2.7)% | 3,400 | |
Agalsidase Beta BS | 711 | 1.4% | 964 | 2.8% | ＋35.6% | 1,000 | |
I.V. Infusion [JCR] | |||||||
Total | 26,032 | 51.0% | 25,755 | 75.0% | (1.1)% | 25,650 | |
pharmaceutical | |||||||
products | |||||||
License revenue | 10,571 | 20.7% | 6,546 | 19.1% | (38.1)% | 6,500 | |
Other | 102 | 0.2% | 109 | 0.3% | ＋7.3% | 120 | |
AZD1222 bulk | 14,375 | 28.1% | 1,931 | 5.6% | (86.6)% | 1,930 | |
Total net sales | 51,082 | 100.0% | 34,343 | 100.0% | (32.8)% | 34,200 | |
◆Net sales | 34,343 million yen | ||||||
Year-on-year: (16,738) million | |||||||
yen | |||||||
FY2021 | 51,082 | ||||||
GROWJECT | (683) | ||||||
IZCARGO | +1,424 | ||||||
TEMCELL | (92) | ||||||
Epoetin Alfa BS | (166) | ||||||
Darbepoetin Alfa BS | (1, | 0 | 11) | ||||
Agalsidase Beta BS | ＋ | 253 | |||||
License Revenue | (4 | ,02 | 5) | ||||
Other | ＋7 | ||||||
AZD1222 bulk | (12,443) | ||||||
FY2022 | 34,343 |
（ Unit: million yen ）
Main change factors (YoY)
- GROWJECT® NHI price revision (8.1)%
- million yen
- IZCARGO® started prescribing for 17 cases
+1,424 million yen
- Adjusted sales price with Kissei Pharmaceutical Co., Ltd. for Darbepoetin NHI price revision (12.3)%, etc.
(1,011) million yen
- License revenue impacted by delayed contract negotiations and other factors
(4,025) million yen
- AZD1222 bulk solution manufacturing ended as scheduled
(12,443) million yen
Copyright © 2023 JCR Pharmaceuticals Co., Ltd. All rights reserved.
Financial 3
Net Sales Trends by Product
Recombinant human growth hormone product
GROWJECT®
12,650 | 13,256 | 12,945 | 12,261 | |||
NHI | NHI | |||||
NHI | price | price | ||||
price | revision | revision | ||||
revision | (6.4)% | (8.1)% | ||||
FY2019* | FY2020 | FY2021 | FY2022 |
* NHI price revision in Oct.
(Unit: million yen) | |||||||||||
Recombinant therapeutic enzyme for | |||||||||||
mucopolysaccharidosis II (MPS II) | |||||||||||
IZCARGO® I.V. infusion 10mg | 1,262 | ||||||||||
1,059 | 957 | 1,070 | 1,047 | 1,047 | |||||||
761 | |||||||||||
224 | |||||||||||
FY2020 | FY2020 | FY2020 | FY2020 | FY2021 | FY2021 | FY2021 | FY2021 | ||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | ||||
Human somatic stem cell-processed products Human (allogenic) bone marrow-derived mesenchymal stem cells
TEMCELL® HS Inj.
Recombinant erythropoietin product | ||
Epoetin Alfa BS Inj. [JCR] | Epoetin Alfa | |
Long-actingerythropoiesis-stimulating agent | Darbepoetin |
Recombinant treatment for Fabry disease
Agalsidase Beta BS I.V. Infusion [JCR]
3,126
3,497 3,404
Darbepoetin Alfa BS Inj. [JCR] |
Apr. 2022: Sales transferred to Sumitomo Pharma | 964 |
711 |
2,441
FY2019 FY2020 FY2021 FY2022
1,412 | 3,809 | |||||
2,998 | ||||||
1,986 | ||||||
NHI price | NHI price | |||||
4,097 | NHI | revision | revision | |||
price | Epo (8.4)% | Epo (6.7)% | ||||
3,278 Darbe (12.1)％ | 2,876 | Darbe (11.8)％ 2,710 | ||||
revision | ||||||
FY2019* | FY2020 | FY2021 | FY2022 | |||
*NHI price revision | ||||||
in Oct. |
470 | ||||
317 | NHI | NHI | ||
NHI | price | |||
price | ||||
price | revision | revision | ||
revision | (3.1)% | (5.2)% | ||
FY2019* | FY2020 | FY2021 | FY2022 |
- NHI price revision in Oct.
Copyright © 2023 JCR Pharmaceuticals Co., Ltd. All rights reserved.
Financial 4
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JCR Pharmaceuticals Co. Ltd. published this content on 06 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2023 07:21:08 UTC.
