Mistubishi Tanabe down 15% on R&D costs

Mitsubishi Tanabe reported a 15% drop in income for the nine months ending December 31, 2008, year-on-year, on increasing costs.

Net profit was 32.1 billion yen ($349.9 million), versus 37.6 billion  yen in the same period of the year before, due to a 2% hike in R&D  expenses to 53.9 billion yen and a rise in goodwill amortization  associated with business integration, according to the firm.

Revenue was up 1% to 325.3 billion yen, driven by strong sales of  Remicade (infliximab), originated by US drug majors Johnson & Johnson  and Schering-Plough for acute exacerbations of ulcerative colitis, which  expanded 29% to 28.6 billion yen. Cerebral neuroprotective drug Radicut  (edaravone) edged down 1.5% to 22.3 billion yen, reflecting a National  Health Insurance price cut.