Lipovas Boosts Banyu
Sales of the lipid-lowerer Lipovas (simvastatin) drove a 1.4% increase in total sales to 49 billion yen ($449.1 million) at Merck & Co affiliate Banyu of Japan for the fiscal year ended March 1996. Sales of the product are expected to increase by double digits in the current fiscal year. However, development costs may hold back net profits.
Operating profits were 23.1 billion yen, up 12.7%, recurring profits advanced 10.6% to 22 billion yen, and net profits were 10.9 billion yen, up 17.2%. Earnings per share were 41.5 yen, ahead 17.5%.
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