Ono Pharma Korea’s sales double in 4 years with Opdivo

Last year's sales reached KRW 60.3 billion... Four consecutive years of sales and operating profit growth

Opdivo gains momentum with additional indications... Investment in new anticancer drugs begins in earnest

Ono Pharmaceutical Korea continued its sales growth, powered by its immuno-oncology drug Opdivo.

 

The company's sales doubled in 4 years.

 

The company is preparing for the expiration of Opdivo's patent by securing a diverse pipeline of new anticancer drugs, including antibody-drug conjugates (ADCs) and novel immuno-oncology drugs with different mechanisms of action.

 

According to the Financial Supervisory Service's electronic disclosure system on the 9th, Ono Pharmaceutical's sales last year reached KRW 60.3 billion, a YoY increase of 10.7%.

 

During the same period, operating profit rose by 11.7% from KRW 3.9 billion to KRW 4.4 billion.

 

The sales and operating profit recorded by Ono Pharmaceutical last year are the highest figures since the company began submitting audit reports in 2017.

 

Ono Pharmaceutical recorded sales of over KRW 40 billion in 2021 and exceeded KRW 50 billion for the first time the following year.

 

Comparing the company’s sales of KRW 60.3 billion last year with the KRW 31 billion in 2020, it has increased by 94.5% in four years.

 

The immuno-oncology drug Opdivo drove Ono Pharmaceutical's sales growth.

 

Opdivo is an anti-PD-1 class immune-oncology drug jointly developed by Ono Pharmaceutical and BMS, and was approved in Korea in 2015.

 

Ono Pharmaceutical holds the development and marketing rights for Opdivo in Asia, including Korea, Japan, and Taiwan.

 

                                                                                          Ono Pharmaceutical's sales have risen significantly since 2017, when Opdivo was granted reimbursement.

 

The first indication reimbursed was for non-small cell lung cancer.

 

Ono Pharmaceutical's sales in 2018 were KRW 44.8 billion, up 44.4% from KRW 31 billion the previous year.

 

However, competition from MSD's Keytruda had an impact on Opdivo’s sales.

 

Opdivo recorded sales of KRW 32.4 billion in 2019, down 27.8% from the previous year.

 

Ono Pharmaceutical sought to reverse the trend by expanding the indications and reimbursement for Opdivo.

 

In particular, the combination of Opdivo and BMS's CTLA-4 targeted immuno-oncology drug Yervoy has been effective in various solid cancers, such as melanoma, renal cell carcinoma, and hepatocellular carcinoma, contributing to an increase in market share.

 

In addition, Opdivo became the first immuno-oncology drug to be approved for the treatment of gastric cancer in 2021.

 

According to the market research institution IQVIA, Opdivo surpassed KRW 100 billion in domestic sales in 2022.

 

Company busy securing future pipeline following Opdivo

Ono Pharmaceutical

Ono Pharmaceutical is preparing for the expiration of Opdivo's patent.

 

Opdivo's patent is scheduled to expire in the United States in 2028, followed by other markets around the world.

 

First, the company is defending the market with Opdivo Qvantig, a subcutaneous injection (SC) formulation of Opdivo.

 

Opdivo Qvantig was approved in the United States last year, and Ono Pharmaceutical and its partner BMS are seeking approval in major countries.

 

The existing intravenous (IV) formulation of the anticancer drug requires administration for over an hour, but the SC formulation has the advantage of reducing the administration time to less than 10 minutes.

 

The SC formulation of the anticancer drug can provide convenience to patients who must visit the hospital once every 3 weeks on average to receive the IV formulation.

 

Ono Pharmaceutical is also seeking to enter the antibody-drug conjugate (ADC) market.

 

Last year, Ono Pharmaceutical acquired LCB97, an ADC candidate substance developed by LigaChem Biosciences, a domestic ADC developer.

 

LCB97 targets L1CAM, a protein expressed in various solid tumors, such as lung cancer, pancreatic cancer, and colorectal cancer.

 

LCB97 incorporates LigaChem Biosciences’ proprietary ConjuALL linker technology.

 

ADCs consist of a linker, payload (drug), and antibody, and the ConjuALL linker is evaluated to overcome issues such as the release of cytotoxic drugs in the bloodstream and attacks on normal cells.

 

LigaChem Biosciences and Ono Pharmaceutical have also signed a contract to transfer the company’s proprietary technology for ADCs that target multiple targets along with LCB97.

 

Under this contract, Ono Pharmaceutical has secured the rights to discover and develop ADC candidates targeting multiple targets using LigaChem Biosciences’ platform technology.

 

Additionally, Ono Pharmaceutical has entered into a technology transfer agreement with domestic company NEX-I and will begin developing the immunotherapy candidate ‘NXI-101.’ NXI-101 is a next-generation immunotherapy drug candidate that inhibits the function of ONCOKINE-1, a newly identified target discovered through the ‘ONCOKINE’ platform, which identifies factors causing resistance to cancer immunotherapy.

 

Currently, Ono Pharmaceutical has completed preclinical trials for NXI-101 and is conducting Phase I clinical trials.