Ono's interim results hit by NHI price cuts

Japan's Ono Pharmaceuticals' interim results for the fiscal year ending April 2009 were hit by a Japanese National Health Insurance price reduction, and the firm has cut its full-year guidance as a result.

R&D expenses rose 1.6% on the like, year-earlier period to 17.9 billion yen ($185.7 million), whereas sales fell 8% to 65.99 billion yen. Foreign turnover was 1.46 billion yen, accounting for just 2% of sales.

Revenue from peripheral circulation therapy Opalmon (limaprost alfadex) increased 4% to 19.1 billion yen and tachyarrhythmia injection Onoact (landiolol) jumped 51% to 1.3 billion yen. Sales of bronchial asthma treatment Onon (prankulast) fell 14% to 10.6 billion yen in its capsule form and 24% to 3.9 billion yen as a dry syrup. Overactive bladder therapy Staybla (imidafenacin), which was launched last year, generated revenue of 600.0 million yen.