Q2 2020 Chugai Pharmaceutical Co Ltd Earnings Call Transcript
I am Tatsuro Kosaka, Chairman and CEO of Chugai Pharmaceutical. Let me review the first half. First, on the financial results of the first half. Please turn to Slide 3.
Despite the outbreak of COVID-19, we have seen a significant increase in revenues and profits in the first half of this year and are on the right track, making steady progress in IBI 21, our midterm business plan. As January-June period results, we achieved record high numbers in revenues, operating profit and net income with revenues up 14.9%, core operating profit up 38.8%, and core EPS up 39.0% year-on-year, respectively. Reasons for this strong performance include steady exports of Actemra and Hemlibra to Roche and Hemlibra-related income. However, domestic sales suffered a negative growth of 2.6% year-on-year. One reason was because our mainstay products, Actemra and Hemlibra, have their NHI drug prices cut in April. The second reason was the impact of the spread of COVID-19 with Tecentriq and Hemlibra, our growth drivers most severely affected.
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