Otsuka Posts Steady Performance For 1994

For the year ended March 1994, Otsuka reported a rise in sales of 3.6% to 334.5 billion yen ($3.3 billion), with net profits of 7.5 billion yen. Operating profits increased 12% to 17.4 billion yen compared to the previous year.

Sales of pharmaceuticals rose 1% to 129.5 billion yen, due to good contributions from the antiulcerant Mucosa Tab (rebamipride) and the alpha interferon preparation OIF that gained an additional indication for chronic active hepatitis B this year. Research and development expenditures and equipment investments stood at 25.9 million yen and 3 million yen, respectively.

Sales for the current year are forecast to reach 370 billion yen, a rise of 11%, of which 142 billion yen is expected to come from its pharmaceuticals division. The company notes that it expects good growth in the coming year for the product OIF through an additional indication for hepatitis C.