Japanese Drug Wholesaler Suzuken Reports Lower Profits

Major Japanese drug wholesaler Suzuken reported lower sales and profits for the interim fiscal year ending September. The group sales increased by 3.8 percent to ¥795.9 billion, however, business profit reduced by 29.7 percent to ¥6.46 billion, regular profit was down by 15.3 percent to ¥13.4 billion and net profit dropped by 45 percent to ¥4.8 billion. According to the company, compared to previous estimations, drug prices are lower and the operation costs for distribution centers are higher. Suzuken President Hiroshi Oda also cited hospitals' buying power and competition among drug wholesalers. (Click here for more - Japanese language