Long Development Timelines and Uncertainty in Pharmaceutical R&D
First written in FY2023. 1 of 2 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2022: 20 of 40 companies on the "Worse" side.
28 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Drug research takes time and requires investment from initial drug-discovery research through development. Drug-discovery research is also uncertain: if no useful compound is found or safety concerns such as adverse effects arise, a decision may be made to extend or discontinue the research.」
The company continues to describe the research period, investment burden and the possibility of extension or discontinuation due to the efficacy or safety of compounds as uncertainties inherent in drug-discovery research. - FY2023First statedAnnual report
「Pharmaceutical research and development requires a long period from initial drug-discovery research to launch, as well as substantial research and development investment before launch. Research and development is also uncertain: if useful efficacy cannot be confirmed or safety concerns such as adverse effects arise, decisions may be made to extend or discontinue the research and development.」
The company identifies the research and development period, investment burden, and possible extension or discontinuation due to efficacy or safety issues as key risks. It also states that it has no track record of completing lead-compound optimization.