DSP 1st-half profit hit by NHI price revisions

Dainippon Sumitomo Pharmaceutical's net income dropped 21% to 10.87 billion yen ($109.8 million) for the first half of the fiscal year ending in March 2009, compared to the same period of fiscal 2008, due to National Health Insurance price revisions.

Nonetheless, the Japanese firm posted turnover of 134.36 billion yen, up 4%, but this was countered by R&D costs which increased 26% to 24.8 billion yen. Overseas turnover was 9% of the total, reaching 12.65 billion yen. Pharmaceutical sales were up 4%, to 106.1 billion yen, including: the anti-hypertensive Amlodin (amlodipin), down 5% to 30.5 billion yen; the gastrokinetic drug Gasmotin (mosapride citrate) rose 5% to 9.9 billion yen; Meropen (meropenem), a carbapenem-based antibiotic, contributed 7.3 billion yen, up 3%; and the vasodilator Prorenal (limaprost alfadex) also gained 3% to 7.3 billion yen.

The company posted full-year guidance for fiscal 2009, predicting sales of 266.0 billion yen, up 1% from the fiscal 2008 figure, and net profit of 18.5 billion yen, down 28% on last year's final result.