Astellas publishes annual report

Astellas Pharma has published its annual report covering the 2007 fiscal year.

The company recorded a positive business performance during the period, reporting three years of solid growth since the merger that established the firm.

During the year, Astellas recorded net sales of 972.6 billion yen (4.87 billion pounds) on a consolidated basis, up from 920.6 billion yen in 2006.

Operating income rose from 190.5 billion yen up to 275.9 billion yen, with the company achieving its stated management goal of surpassing 250 billion yen.

The company raised return-on-investment from 11.3 per cent in the 2006 fiscal year to 16.1 per cent as a result of capital efficiency initiatives and expanded earnings.

“Astellas worked with determination to build a system for enhancing its competitive edge on a global scale after the merger,” the company said.

It described 2007 as a milestone year for the firm, as it completed the first stage in its preparations for becoming a global category leader, establishing a competitive operating infrastructure across the world primed for future growth.

Earlier this month, Astellas announced the acquisition of its treasury stock pursuant to article 156, applicable in accordance with article 165, paragraph three of the Companies Act.