Astellas reports increased European sales

Astellas, the Japanese pharmaceutical company, has announced increased sales in the European market as it released its latest quarterly results.

European sales, including those of the UK, increased to 52.5 billion yen (244 million pounds), aided by increased sales of Prograf, the post-transplant anti-rejection drug, as well as Vesicare, the incontinency drug.

However, European sales of Harnal decreased due to more generic competition.

Despite increased sales, the company’s net income reduced to increased research and development expenditure, which more than doubled on the previous year’s figures, largely based on upfront licensing agreement fees with FibroGen.

Astellas, the third largest Japanese pharmaceutical company and 17th largest in the world, opened its European headquarters last month in Staines, outside London. The move was designed to increase Astellas’ research and development budget, which currently runs at $1.3 billion.

However, despite the company’s relatively strong results, some analysts are wary about the prospects of Japanese pharmaceutical companies.

Masaru Hamasaki, senior strategist at Toyota Asset Management, told Reuters: “Japanese drug makers have grown bigger through mergers but still look like being dwarfed by other global players. If they are not big enough, they won’t be able to do sufficient research and development.”

“I don’t think that the (Japanese) drug companies will necessarily grow steadily,” he concluded.

In April, Astellas announced its intention to close a central nervous system research centre in Edinburgh.

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