Kyowa Kirin reports first-quarter net profit rise

2 articles · Updated · MarketWatch · May 7

The Japanese drugmaker posted net profit of Y12.03 billion for the quarter ended 31 March, while revenue rose to Y118.47 billion from Y104.73 billion.
Pretax profit increased to Y13.93 billion from Y7.86 billion, and earnings per share nearly doubled to Y22.99 from Y11.78.
The company said the results were prepared under IFRS accounting standards, with no diluted earnings figure reported for the latest quarter.

How did canceling a promising drug trial paradoxically boost Kyowa Kirin’s profit outlook by billions of yen?

Kirin is betting on pharma over beer. Do these record profits prove its high-stakes gamble is finally paying off?