Shionogi & Co Ltd (Shionogi) discovers, develops and commercializes prescription and OTC drugs, diagnostics reagents and medical devices, and other related products. The company operates through one reportable business segment which includes research, development, purchase, manufacture and distribution of prescription drugs and related business.

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The company’s R&D activities are focused on developing drugs in therapeutic areas including infectious diseases, psychoneurological diseases, oncology and sarcopenia. Under infectious diseases, the company focuses on developing vaccines and diagnostic kits for influenza, SARS-CoV-2; vaccines for HIV, malaria, COVID-19 and tuberculosis; in psychiatric disorders and neurological diseases the company focuses on developing drugs for attention-deficit hyperactivity disorder; Alzheimer's disease, pain, and depression. In FY2023, the company spent JPY102,392 million on its R&D activities. The company works in partnership with Sage Therapeutics, Takeda, Roche, Nagasaki University, GSK, Vast Therapeutics, Nissan Chemical Corp, Sanofi and others to discover new products and expand its existing products for new indications. The company has 50-70% of original pipeline ratio whereas the company has 20-30% pipeline ratio.