Top Products Help Profit At Japan's Drug Makers (Japan)

Most top Japanese drug makers have reported increased profit for the quarter on strong global sales of signature prescription drugs. For the fiscal quarter that ended in June, Takeda Pharmaceutical Co, Japan's largest drug maker by revenue, posted a 5.1 percent increase in net profit to 131 billion yen ($1.1 billion) from 124.64 billion yen a year earlier. Group sales rose 9.6 percent to 366.33 billion yen. Global sales of Takeda's main products, including Actos for diabetes, Prevacid for peptic ulcers and hypertension medication Blopress, all rose from a year earlier. Takeda is forecasting a group net profit of 380 billion yen on sales of 1.39 trillion yen. Daiichi Sankyo Co., Japan's second-largest pharmaceutical maker, posted a 14 percent drop in net profit to 41.41 billion yen from 48 billion yen a year earlier. The year-earlier results reflected the sale of nonpharmaceutical units as the Tokyo-based company moved to focus on its core medication business. Group operating profit rose 12 percent to 67.83 billion yen, reflecting cost-cutting and growing sales of its mainstay drug for lowering blood pressure, known as Benicar in the U.S. and Olmetec in Europe. For the fiscal year through March, Daiichi Sankyo kept its group net profit outlook at 92 billion yen and its group sales forecast at 837 billion yen. Eisai Co., maker of Aricept for Alzheimer's disease, said net profit in its fiscal first quarter rose 22 percent to 19.34 billion yen. Eisai is sticking to its earnings outlook for the fiscal year through March, expecting 75 billion yen in net profit and 720 billion yen in sales. (Click here for more - May Require Paid Subscription