Astellas reports rise in sales but drop in income

Astellas, the Japanese pharmaceutical company, has reported a drop in its net income compared to the same period last year in its results for the financial half year.

The company cites a “significant increase” in expenditure on research and development costs, largely due to large in-licensing fees.

Sales in Prograf have been growing in the US and are expected to increase, but Astellas also said that sales in Europe for Omnic are expected to slide following its patent expiration February.

However, a new formulation of the drug is being marketed.

Astellas also revealed that research and development activities now represent the company’s “most important measure”.

A statement read: “The company aims to make sustainable growth in [the] mid and long-term by generating a continuous and fast stream of innovative new products.”

“From that perspective, the company is proactively promoting its research and development activities as its most important measure,” it concluded.

Astesllas highlighted new products, such as FK463, an antifungal, and YM758, a drug for stable angina. The latter is undergoing phase II clinical trials in Europe, while FK463 has been submitted to the European regulator for review.

Last month, the company unveiled a new five-year strategy to help face the “difficult” challenges brought on by patent expirations for its best-selling drugs, such as Prograf.