{ "spec_version": "4", "endpoint": "history", "stock_code": "4528", "company_name": "小野薬品工業", "content_lang": "ja", "meta_lang": "en", "canonical_url": "https://the-shashi.com/tse/4528/decisions/", "api_url": "/api/4528/history.json", "updated": "2026-09-14", "license": "© 2026 Yutaka Sugiura. All rights reserved.", "attribution": "The社史 (the-shashi.com) — https://the-shashi.com/tse/4528/decisions/", "source": { "chapters": { "html_url": "https://the-shashi.com/tse/4528/", "primary": [ "社史", "有価証券報告書", "新聞・雑誌記事" ], "extraction": "一次資料を読み合わせて執筆" }, "long_term": { "primary": [ "会社年鑑（1976年版）", "会社年鑑", "有価証券報告書" ], "extraction": "EDINET の XBRL、kabupro 掲載の旧有価証券報告書、会社年鑑・社史等からの転記", "row_field": "reference", "caveat": "創業期から現在までを 1 本に繋いだ長期系列のため、年代により出所・単位・連結範囲が変わる。行ごとの reference / unit / consolidation を必ず参照すること" }, "decisions": { "html_url": "https://the-shashi.com/tse/4528/decisions/", "primary": [ "企業の公表資料", "新聞・雑誌記事" ], "extraction": "本文は API に載せない。行ごとの html_url のページを参照すること" } }, "title": "小野薬品工業の歴史概略", "eras": [ { "title": "道修町の薬種問屋から戦後法人化まで", "start_year": 1717, "end_year": 1962 }, { "title": "プロスタグランジン研究とオプジーボの発見", "start_year": 1963, "end_year": 2013 }, { "title": "オプジーボ時代と次世代パイプライン", "start_year": 2014, "end_year": 2026 } ], "overview": [ { "label": "創業", "text": "1717年、初代小野市兵衛氏が大阪・道修町で\"伏見屋市兵衛\"の屋号を掲げ、薬種仲買人として創業した。道修町は徳川幕府公認の薬種問屋街で、唐薬と和薬の輸入・卸売を担う薬業の中心地だった。1934年に合名会社小野市兵衛商店へ改組して資本金16万円の法人格を得たあと、1947年に医薬品製造部門を日本有機化工、注射アンプルなど硝子資材部門を日本理化学工業として分けている。[1948年に日本有機化工を小野薬品工業へ改称し、翌年に商店本体を吸収合併して製販を一本化した](/tse/4528/decisions/manufacturing-integration-1949/)。同じ1948年に日本で最初の合成エフェドリンの工業化に成功し、1962年に大阪証券取引所市場第二部へ上場した。" }, { "label": "決断", "text": "海外で売る権利を渡し、13年後にその販売網を買収で取り戻した。1968年の中央研究所完成と同年のプロスタグランジン全合成が創薬の起点で、本庶佑氏が1992年に発見したPD-1については2003年に京都大学と持ち分半々で共同特許を出願している。だが世界規模の臨床試験と販売網を単独では担えず、2011年9月に[Bristol-Myers Squibbへ抗PD-1抗体の海外開発・販売権を供与した](/tse/4528/decisions/bms-alliance-2011/)。オプジーボは2014年に世界初の抗PD-1抗体として発売され、受け取るロイヤルティが研究開発の原資となった。その原資で2024年4月に[米Deciphera Pharmaceuticalsを約24億ドルで買収し](/tse/4528/decisions/deciphera-acquisition-2024/)、消化管間質腫瘍薬QINLOCKと欧米の販売網を取得した。2026年3月期の営業利益922億円は2024年3月期の1,599億円を下回り、取得の代金を利益から払い終える時期はまだ来ていない。" }, { "label": "現況", "text": "日本2,871億円に対し米国が1,971億円へ伸び、海外が売上の4割を超えた。2026年3月期の売上収益は5,157億円、営業利益922億円で、アジア177億円・欧州123億円がこれに続く。2014年発売のオプジーボは国内の主力であり続け、Bristol-Myers Squibbから受け取るロイヤルティが加わる。2020年には米国でベンチャー投資会社とファンドを設け、2021年以降も小野薬品ヘルスケアやがん患者支援のmichitekuを相次いで設立した。1品の成功で得た資金を外部の創薬と米国の販売会社へ配ったことが、単剤への集中を薄める端緒となっている。" }, { "label": "競合", "text": "世界初の薬を出しながら、それを世界で売ったのは他社だった。[中外製薬がスイス・ロシュへ経営権の過半を譲渡した](/tse/4519/decisions/roche-alliance-2002/)のは2001年で、経営権の過半を渡す代わりに世界の販路を得ている。小野薬品は資本を渡さず製品の権利だけを渡し、Bristol-Myers Squibbの販売網でオプジーボを各国へ届けた。[自社創製のADCエンハーツをアストラゼネカと共同で商業化した](/tse/4568/decisions/enhertu-alliance-2019/)第一三共も同じ2010年代に、製品単位で利益と費用を折半する形を選んでいる。中堅が世界へ出る道は、資本・製品・販売のどれを渡すかで分かれてきた。小野薬品が2024年に選んだのはどれも渡さない道で、創業から300年を超えて初めて欧米に自社の売り場を持った。" } ], "profile": [ { "key": "founding_business", "label": "祖業", "value": "唐薬・和薬を扱う薬種仲買" }, { "key": "current_issue", "label": "現在の注力課題", "value": "がん領域の拡充と欧米自社販売網の構築", "tags": [ "M&A", "海外展開" ] } ], "auditVersion": 3, "foundingStory": true, "summary": { "description": "小野薬品工業の歴史。1717年、初代小野市兵衛が大阪道修町で薬種仲買「伏見屋市兵衛」を創業。プロスタグランジンの全合成、オプジーボとブリストル・マイヤーズとの提携、Deciphera買収までの沿革と経緯を執筆。" }, "chapters": [ { "start_year": 1717, "end_year": 1962, "main_title": "道修町の薬種問屋から戦後法人化まで", "subsections": [ { "title": "享保2年の創業と江戸期道修町の系譜", "text": "1717年（享保2年）、初代小野市兵衛が大阪道修町で\"伏見屋市兵衛\"の屋号のもとに薬種仲買人として創業した。江戸期の道修町は徳川幕府公認の薬種問屋街で、唐薬・和薬の輸入・卸売を担う薬業の中心地だった。小野家は道修町の老舗薬種問屋として、近世日本の医薬流通を担う一翼を占め続けた。1918年に東洋製薬化成株式会社を設立し、近代的な製薬事業の足場を作り始めている。\n\n1934年、合名会社小野市兵衛商店に改組し、資本金16万円で近代法人格を獲得した。個人商店から合名会社への法人化により、近代的な企業統治の体裁を整えている。1947年、商店の医薬品製造部門として日本有機化工株式会社（資本金19万5千円）と、注射アンプル等医薬用硝子資材部門として日本理化学工業株式会社を設立し、製造・販売の一貫体制を構築した。戦後の医薬品メーカーとしての企業形態が、ここで現代的な姿に整った。", "references": [ { "title": "小野薬品工業 有価証券報告書（沿革欄）", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "企業の歴史 : 明治百年（経済春秋社, 1968）", "year": null, "month": null, "date": null, "url": null, "quotes": [] } ] }, { "title": "「小野薬品工業」誕生と二市場上場", "text": "1948年、日本有機化工株式会社を現社名の\"小野薬品工業株式会社\"と改称し、工場を東成区の現城東工場へ移すとともに、日本理化学工業株式会社を解散して同工場を小分包装の淡路工場とした。同年、日本で最初の合成エフェドリンの工業化に成功し、薬種問屋系の企業が自前の製剤を持つ医薬品メーカーとしての基礎を確立している。1949年、合名会社小野市兵衛商店を小野薬品工業株式会社に吸収合併し、製造販売部門の一本化を図っている。問屋・商店時代から脱却し、製薬企業としての新たな出発を果たした。1961年に城東工場（綜合製剤工場）が完成し、戦後の生産能力拡張の中核施設として稼働を始めた。\n\n1962年、大阪証券取引所市場第二部に株式上場した。1963年、東京証券取引所市場第二部に株式上場し、1969年には東京・大阪各証券取引所市場第一部に指定替えしている。江戸期享保2年の創業から245年を経て、近代資本市場への参入を参入した。300年企業として、戦前の薬種問屋から戦後の上場製薬企業への転換を完遂した時期で、現代の小野薬品工業の事業形態がここで固まった。", "references": [ { "title": "小野薬品工業 有価証券報告書（沿革欄）", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "企業の歴史 : 明治百年（経済春秋社, 1968）", "year": null, "month": null, "date": null, "url": null, "quotes": [] } ], "charts": [ { "path": "4528-lineage-1949.v2.json", "chart_type": "lineage", "paragraph": 1, "caption": "1717年創業の薬種問屋・伏見屋市兵衛を起点に、1918年東洋製薬化成・1934年合名会社小野市兵衛商店への法人化を経て、1947年に医薬品製造の日本有機化工と硝子資材の日本理化学工業を分離設立、1948年に日本有機化工を「小野薬品工業」へ改称、1949年に合名会社を本体へ吸収合併する一連の系譜を1枚に整理した。\n製造・販売・資材を別法人へ切り分けた1947年分離と、合名小野市兵衛商店を1949年に吸収合併する逆方向の合流が連続したことで、江戸期から続く問屋系譜が戦後の上場製薬企業へ単線化され、後年の創薬投資を集中させる単一事業体制の素地が固まった。" } ] } ] } ], "long_term": [ { "year": 1962, "month": 3, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": null, "sales": null, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": null, "net_profit": null, "net_margin": null, "employees": null, "reference": null }, { "year": 1963, "month": 3, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": null, "sales": null, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": null, "net_profit": null, "net_margin": null, "employees": null, "reference": null }, { "year": 1964, "month": 3, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": null, "sales": null, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": null, "net_profit": null, "net_margin": null, "employees": null, "reference": null }, { "year": 1965, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 43, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 3, "net_profit_jp": "当期純利益", "net_profit": 2, "net_margin": 4.651, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1966, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 51, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 4, "net_profit_jp": "当期純利益", "net_profit": 2, "net_margin": 3.921, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1967, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 61, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 6, "net_profit_jp": "当期純利益", "net_profit": 3, "net_margin": 4.918, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1968, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 70, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 7, "net_profit_jp": "当期純利益", "net_profit": 4, "net_margin": 5.714, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1969, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 82, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 8, "net_profit_jp": "当期純利益", "net_profit": 4, "net_margin": 4.878, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1970, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 96, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 10, "net_profit_jp": "当期純利益", "net_profit": 5, "net_margin": 5.208, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1971, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 100, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 9, "net_profit_jp": "当期純利益", "net_profit": 5, "net_margin": 5, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1972, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 90, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 8, "net_profit_jp": "当期純利益", "net_profit": 4, "net_margin": 4.444, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1973, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 109, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 10, "net_profit_jp": "当期純利益", "net_profit": 5, "net_margin": 4.587, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1974, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 135, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 14, "net_profit_jp": "当期純利益", "net_profit": 6, "net_margin": 4.444, "employees": null, "reference": "会社年鑑（1976年版）" }, { "year": 1975, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 152, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 12, "net_profit_jp": "当期純利益", "net_profit": 4, "net_margin": 2.631, "employees": null, "reference": "会社年鑑" }, { "year": 1976, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 171, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 13, "net_profit_jp": "当期純利益", "net_profit": 4, "net_margin": 2.339, "employees": null, "reference": "会社年鑑" }, { "year": 1977, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 186, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 10, "net_profit_jp": "当期純利益", "net_profit": 4, "net_margin": 2.15, "employees": null, "reference": "会社年鑑" }, { "year": 1978, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 191, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 11, "net_profit_jp": "当期純利益", "net_profit": 3, "net_margin": 1.57, "employees": null, "reference": "会社年鑑" }, { "year": 1979, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 207, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 13, "net_profit_jp": "当期純利益", "net_profit": 3, "net_margin": 1.449, "employees": null, "reference": "会社年鑑" }, { "year": 1980, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 244, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 19, "net_profit_jp": "当期純利益", "net_profit": 5, "net_margin": 2.049, "employees": null, "reference": "会社年鑑" }, { "year": 1981, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 308, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 65, "net_profit_jp": "当期純利益", "net_profit": 10, "net_margin": 3.246, "employees": null, "reference": "会社年鑑" }, { "year": 1982, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 359, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 88, "net_profit_jp": "当期純利益", "net_profit": 25, "net_margin": 6.963, "employees": null, "reference": "会社年鑑" }, { "year": 1983, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 419, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 116, "net_profit_jp": "当期純利益", "net_profit": 31, "net_margin": 7.398, "employees": null, "reference": "会社年鑑" }, { "year": 1984, "month": 11, "company_name": "小野薬品工業", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 440, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": "経常利益", "ordinary_profit": 128, "net_profit_jp": "当期純利益", "net_profit": 39, "net_margin": 8.863, "employees": null, "reference": "会社年鑑" }, { "year": 1985, "month": 3, "company_name": "小野薬品工業", 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"net_profit": 1280, "net_margin": 25.462, "employees": 3853, "reference": null }, { "year": 2025, "month": 3, "company_name": "小野薬品工業", "consolidation": "連結", "accounting_standard": "IFRS", "unit": "億円", "sales_jp": "売上収益", "sales": 4869, "operating_profit_jp": "営業利益", "operating_profit": 597, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": "親会社株主に帰属する当期純利益", "net_profit": 500, "net_margin": 10.269, "employees": 4287, "reference": null }, { "year": 2026, "month": 3, "company_name": "小野薬品工業", "consolidation": "連結", "accounting_standard": "IFRS", "unit": "億円", "sales_jp": "売上収益", "sales": 5158, "operating_profit_jp": "営業利益", "operating_profit": 922, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": "親会社株主に帰属する当期純利益", "net_profit": 698, "net_margin": 13.532, "employees": 4206, "reference": "有価証券報告書" } ], "decisions": [ { "main_title": "日本有機化工から改称", "sub_title": "小野市兵衛商店の吸収合併による製造と販売の一本化、小野薬品工業としての再出発", "year": 1949, "type": "reorganization", "html_url": "https://the-shashi.com/tse/4528/decisions/manufacturing-integration-1949/" }, { "main_title": "米BMSと抗PD-1抗体提携", "sub_title": "北米以外・日韓台を除く全世界の開発販売権を委ね、対価をロイヤルティで受け取る道を選んだ", "year": 2011, "type": "alliance", "html_url": "https://the-shashi.com/tse/4528/decisions/bms-alliance-2011/" }, { "main_title": "米Decipheraの買収", "sub_title": "約24億米ドルを投じ、欧米で自ら薬を売る体を手に入れるという選択", "year": 2024, "type": "acquisition", "html_url": "https://the-shashi.com/tse/4528/decisions/deciphera-acquisition-2024/" } ] }