Kyowa Hakko Kirin sees business growth in Q1 2011

Kyowa Hakko Kirin has reported an improved performance in sales, profits and net income performance during the first quarter of 2011.

The pharmaceutical company's net sales for the period grew by 15.7 percent compared to Q1 2010, reaching a total of 114.8 billion yen (843.53 million pounds).

Pharmaceutical product shipments for the quarter were high due to an unusual level of front-loaded demand following the recent earthquake in Japan, while the firm's profit growth was driven in part by the sale of the Kyowa Hakko Chemical business unit.

In addition, the company agreed a deal to acquire the British healthcare firm ProStrakan in February 2011, a transaction that was completed earlier this month.

Based in Galashiels, with subsidiaries across Europe and the US, the newly purchased business will allow Kyowa Hakko Kirin to expand its global presence and its interests in the cancer treatment field.

Yuzuru Matsuda, president and chief executive officer of Kyowa Hakko Kirin, said the firm "aims to pursue its vision of becoming a world-class research and development-based life sciences company".