Sumitomo Pharma Reports Profit and Revenue Growth

Sumitomo Dainippon Pharma Co (JP:4506) has released an update.

Sumitomo Dainippon Pharma Co has reported a significant turnaround with a net profit of 15.9 billion JPY in Q1 FY2024 from a net loss of 38.9 billion JPY in Q1 FY2023, attributed to reduced SG&A and R&D expenses. The company also experienced a revenue increase of 19.8% year-over-year and has forecasted further financial developments amidst currency fluctuations. Additionally, operating cash flow has improved, although cash and cash equivalents saw a slight decrease.

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