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Astellas Estimates Lower Sales and Income For Fiscal Year 2008

This article was originally published in PharmAsia News

Executive Summary

Astellas Pharma released financial results May 13 for fiscal year 2007 and forecasts for 2008. The net sales for fiscal year 2008 ending March 31, 2009 is estimated to be ¥962 billion, a decrease of 1.1 percent compared to FY 2007, and operating income and net income are ¥232 billion and ¥159 billion, a decrease of 15.9 percent and 10.4 percent, respectively. Astellas cites reasons for the decrease as appreciation of the yen and an increase in research and development expenses, including an $80 million upfront payment to American company CoMentis for rights to the company's beta-secretase inhibitor program for Alzheimer's disease . (Click here for more - Japanese language
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