Shionogi President Emphases Overseas Expansion And To Increase R&D Expenses

Shionogi President Isao Teshirogi emphasized the importance of overseas expansion for the company at a May 12 press briefing to announce results for the fiscal year. Teshirogi noted the royalty Shionogi received on cholesterol drug Crestor, which the company licensed to AstraZeneca, has reached ¥29.8 billion in 2007, and estimated to reach ¥38.8 billion and ¥60 billion in 2008 and 2009. To expand in the global market, Shionogi plans to focus on attracting talents and alliances, and increase R&D spending from 2007's ¥40.2 billion to ¥50 billion over the next two years. (Click here for more - Japanese language)