Daiichi Sankyo attributes loss to Ranbaxy investment

Daiichi Sankyo’s third-quarter loss totalled 332 billion yen (2.6 billion pounds), the company has announced.

Last year, the company announced a profit of 36.2 billion yen.

Daiichi Sankyo said much of the downturn was attributed to the company’s acquisition of Ranbaxy.

The group also noted its revenue for the quarter – which ended December 31st – was down to 221.3 billion yen, compared to the 252.1 billion yen achieved a year earlier.

As a result of the figures, Daiichi Sankyo has said it is to cut its full-year earnings outlook to a 316 billion yen loss, the firm’s first annual loss.

The company originally predicted a profit of 65 billion yen.

Last month, Daiichi Sankyo revealed its prasugrel treatment – jointly developed with Lilly – had received a positive opinion from the European Union’s Committee for Medicinal Products for Human Use.

The organisation noted the endorsement is now being referred for final action, in the hope of gaining approval.