Daiichi Sankyo sales up while Ranbaxy sales decline

Japanese drug major Daiichi Sankyo (TYO: 4568) has released results for the fiscal period April 1 to September 30, 2013, showing net sales were up 32.2% to 516.4 billion yen ($5.30 billion), up from 484.2 billion yen in the same period last year.

Operating income for the six months was 55.67 billion yen, down 2.5%, and ordinary income fell 5.7% to 47.01 billion yen. Net income rose 26.2% to 30.83 billion yen, with basic net income per share came in at 43.80 yen, versus 34.60 yen in the like, year-earlier six months.

It also reported that sales for its majority-owned Indian subsidiary Ranbaxy Group (BSE: 500359) were down 19.1% to 88.6 billion yen this year from 107.7 billion yen in the period January to June last year. It also said it will change the accounting period for Ranbaxy to bring it into line with the main business in the future. It noted that the decline was due to the exclusion of Ranbaxy’s generic sales in the USA.