Halved 2008 profit for Nippon Chemiphar

Nippon Chemiphar, a Japanese branded and generic drugmaker, reported more than halved profit, year-on-year, for the year to March 31, 2009  despite higher turnover.

The firm's net income was 168.0 million yen ($1.7 million) versus 390.0  million yen. R&D expenses were 1.43 billion yen, up 8%, while selling,  general and administrative costs rose 3% to 11.34 billion yen.

Sales increased 7% to 22.31 billion yen, including pharmaceutical  revenue, up 8% to 21.49 billion yen, and exports, which fell 15% to  346.0 million yen. Elsewhere, generic products jumped 22% to 11.79  billion yen, while the company's core branded product sales fell 8% to  7.48 billion yen.