Daiichi Sankyo: 8% half-year income rise

Daiichi Sankyo, a joint holding company established in September through the merger of the former Daiichi and Sankyo, says that its parent companies both posted better-then expected results for the first half of the fiscal year ending March 2006.

The combined turnover of the two companies came to 451.8 billion yen ($3.69 billion), rising 0.6% on the like, year-ago period. Combined operating income increased 8.3% to 80.3 billion yen, exceeding their combined forecasts of 71.0 billion yen.

Sankyo itself saw a year-on-year decline in first-half sales and earning due to continued revenue downturn from its mainstay treatment for hypercholesterolemia, pravastatin (sold as Mevalotin in Japan, and Pravachol in the USA). Sales of the drug fell 7.3% to 286.2 billion yen.