Daiichi Sankyo 1st-qtr FY 2011 sales up 13%, boosted by Ranbaxy

Daiichi Sankyo, Japan's number three drugmaker, reported first-quarter fiscal 2011 net income of 33.1 billion yen ($383 million), compared with a loss of 6.4 billion yen ($74 million) in the year-earlier period, boosted by cost savings and strong results at its 64%majority-owned subsidiary Ranbaxy, whose turnover rose 84.7% to 54.8 billion yen, driven by US revenue from the antiviral valaciclovir.

The Japanese company recorded a 13% rise in revenue for the three-month period to June 30, to 256.4 billion yen, fueled by sales growth of its antihypertensive Olmetec olmesartan, which jumped 23% to 60.2 billion yen.

In Japan, net sales increased 3.1% year on year to 132.5 billion yen, with prescription drugs rose 5.3% to 112.2 billion yen, boosted by sales growth of Olmetec and the anti-inflammatory analgesic Loxonin (loxoprofen), as well as other brands.