Astellas Says It Aims for ‘Friendly’ Bid of CV Therapeutics As Q3 Profits Decline
This article was originally published in PharmAsia News
TOKYO - An Astellas Pharma senior executive said during a Feb. 2 earnings call the company is aiming to make its bid for CV Therapeutics a friendly proposal rather than a hostile takeover
You may also be interested in...
In a surprise move spurred by a desire to own a greater share of the promising angina drug Ranexa, Astellas announced Jan. 27 its hostile offer for partner CV Therapeutics in a cash deal worth roughly $1 billion
TOKYO - Astellas' Japanese domestic sales expanded 4.5 percent compared to last year, which analysts said were impressive because of the lowering of the National Health Insurance pricing across the board in April. The company attributed the increase to sales of long-acting angiotensin-II receptor antagonist Micardis (telmisartan), the hypnotic Myslee, and a few other products
Astellas Announces 32 Percent Increase In Earnings; Anticipates 10.4 Percent Drop With Prograf Patent Expiry In FY '08
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