Astellas reports 7.3 per cent increase in first-quarter sales

Astellas Pharma has published its financial figures for the first quarter of the 2007 fiscal year, with the firm recording a 7.3 per cent increase in net sales over the same period last year to 247,141 million yen (1,022 million pounds).

Net income increased by 52.1 per cent compared to the same quarter in 2006, reaching 43,007 million yen, with per-share profit rising by 65 per cent to 83.61 yen.

As a percentage of net sales, research and development expenses at the company dropped by 57.1 per cent to 11.4 per cent, or 28,138 million yen

“In Europe, sales increased 17.4 per cent to 61.6 billion yen,” the company reports.

“Sales of Prograf and Vesicare also increased in Europe and bulk sales to and royalty revenues from licenses of Harnal increased due to the robust sales in the US market of the licensee.”

The firm added that sales of Harnal in Europe declined in the quarter as a result of increased competition following the launch of generic formulations of the drug.

Earlier this week, Astellas announced plans to reorganise its European operations, with a restructuring of its development, sales and marketing units and job losses exceeding 200 staff.