Japanese drug major Astellas' 3rd quarter net profit slumps 47% as Prograf hit by generic competition
Japanese drug major Astellas, Japan's second largest pharmaceutical company by sales, posted a net profit of 32.57 billion yen ($359.3 million) for the quarter ended December, according to a calculation by Dow Jones Newswires, down 47% on the year earlier. Group turnover was up 4.7% at 278.13 billion yen.
Astellas has maintained its full-year revenue estimate of 976.00 billion yen, a modest rise of 1.1%, and still expects net income to slump 26.9% on the previous year to 125.00 billion yen.
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