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Analysts See Japan’s Biggest Drug Industry Loss By Daiichi Sankyo

This article was originally published in PharmAsia News

Executive Summary

Daiichi Sankyo is expected to report the biggest annual loss of any Japanese drug maker, with a 2008 deficit of $3.2 billion. Six analysts surveyed for their estimates provided a median estimate for the amount of loss. The steep drop was caused primarily by write-downs Daiichi Sankyo had to take for its takeover of Ranbaxy Laboratories. A Daiichi Sankyo spokeswoman declined to comment ahead of a scheduled release of the firm's earnings report. The company forecast in October a net income for the year, before it announced the write-downs. (Click here for more
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