Nippon Shinyaku profit up 12% on IP turnover
Nippon Shinyaku posted a 12% year-on-year increase in profit for fiscal 2008, the 12 months to March 2009, due to rocketing intellectual property income.
The Japanese mid-sized drugmaker generated revenue of 63.07 billion yen ($649.6 million), up 6%, including intellectual property earnings of 2.58 billion yen, a 53% jump on last year. The company's net income was 4.5 billion yen, versus 3.98 billion yen.
Sales of Eviprostat, a plant-extract combination drug for the treatment of prostatic hyperplasia, rose 7% to 5.95 billion yen, while Baynas (ramatroban) rocketed 21% to 2.66 billion yen and Azunol Gargel (azulene) jumped 13% to 2.18 billion yen.
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