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Astellas Announces 32 Percent Increase In Earnings; Anticipates 10.4 Percent Drop With Prograf Patent Expiry In FY '08

This article was originally published in PharmAsia News

Executive Summary

TOKYO - Astellas posted May 13 fiscal 2007 net revenue of ¥177.4 billion ($1.7 billion), a 32 percent increase over the ¥131.3 billion ($1.3 billion) posted the previous fiscal year. For the present fiscal year however, the Tokyo-based company, which focuses in urology, immunology and inflammatory, diabetes, CNS/pain, infectious diseases and cancer, forecasts a 10.4 percent drop in net revenue to ¥159 billion ($1.518 billion). In a May 14 earnings call with investors and analysts, company president and CEO Masafumi Nogimori noted sales of immunosuppressant Prograf (tacrolimus) grew in each region, with global sales of ¥203 billion. However, the drug's substance patent expired in April. "Based on this, U.S. sales will decline by 5.5 percent," Nogimori said

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