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Net Profit For Chugai Doubles In First Quarter

This article was originally published in PharmAsia News

Executive Summary

Chugai Pharmaceutical's sales in the first quarter increased by 43.1 percent to ¥94.6 billion ($975 million), and the company's operating income soared 74.3 percent to ¥17.5 billion ($180 million). Net profit doubled to ¥13.7 billion. The positive results were a result of strong sales of flu drug Tamiflu (oseltamivir), as the state and local governments increased their flu drug stockpiles. Cancer drugsAvastin (bevacizumab) and Herceptin (trastuzumab) also contributed to the results. Chugai also reported a ¥4.5 billion gain from foreign exchange-rate contracts. (Click here for more - Japanese language
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