Wednesday, May 9, 2012

Astellas Pharma Posts financial results for FY2011

Astellas Pharma  Posted ¥969b in net sales, which was up 1.6% year over year,  while ordinary income grew 17.4% much faster than sales to reach ¥135.1b, primarily driven by a reduction in, R&D expense (down 12.6%) and  increase in non-operating income and reduction in non-operating expense, which was partially offset by a 2.5% increase in SG&A and a 1.9 pecentage points in cost of sales ratio. The company also experienced a slight increase in tax rates due to  a change in policy with regard to dividend from subsidiaries.
For the fully year ending March 2013, Astellas expects net sales to grow 0.3%, while operating income to grow faster than sales by 11% driven by reduction in R&D and SG&A expense excluding R&D. The forecast assumes strengthening of Yen against euro and would negatively impact sales and operating profit. Despite the negative impact of NHI drug price revision, the domestic sales are expected to grow driven by increase in sales of products like Vesicare, Prograf, Micardis family, Celecox, Symbicort, Bonoteo and Betanis. In the US and Europe, sales of Prograf will continue to decline and sales of Adenoscan and Lexiscan in US will decrease, while Vesicare, Tarceva and Mycamine will grow.

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