Q3 2022 Sumitomo Dainippon Pharma Co Ltd Earnings Call Transcript
My name is Hisayoshi Kashima. I would now like to report on our financial results for the third quarter of FY 2021 and the current status of clinical development based on the presentation materials.
Please see Page 3. We are pleased to report our financial results for the first 9 months of the fiscal year ending March 31, 2022. Revenues increased by JPY 37.3 billion or 9.5% year-on-year to JPY 432.1 billion. Sales increased in North America segment, which benefited from the recognition of $270 million in revenue from the upfront payment for the alliance with Otsuka Pharmaceutical, and in the China segment, which recovered from the impact of COVID-19. In Japan, sales decreased slightly due to the NHI price revision.
SG&A expenses increased due to the full-scale implementation of sales activities at Myovant Sciences and Urovant Sciences as well as an increase in amortization of intangible assets. R&D expenses decreased mainly in oncology and Myovant Sciences. As a result, core operating
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