Ono's fiscal 2005/06 income below forecast

Japanese drugmaker Ono says that its results for the fiscal year ended March 2006 undershot its expectations, with a decline in earnings due to generic competion on its mainstay drug Kinedak (epalrestat) and a hike in R&D costs.

The firm says its turnover rose 2.3% to 148.07 billion yen ($1.32 billion), while operating income fell 5.2% to 56.9 billion yen. Net income dropped 8.1% to 36.1 billion yen, reflecting a steep increase in net extraordinary profit.

During the period, some of Ono's leading products saw significant growth. Opalmon (limaprost alfadex), a prostaglandin E1 derivative for the subjective improvement of walking disability, rose 15.2% to 32.6 billion yen, while the asthama and allergic rhinitis drug Onon (prankulast), grew 5.2% to 26.5 billion yen. Kinedak, a drug for numbness and pain of diabetic neuropathy, fell 7.4% to 2.4 billion yen.