Mixed half-year results from Astellas, Eisai and Santen

Compared with some of its peers which reported first-half fiscal year 2011/12 (ended September 30) financial results this week, Japanese drug major Astellas Pharma (TYO: 4503) posted a healthy set of figures, with revenues rising 4.8% to 483.93 billion yen ($6.30 billion). Operating profit leapt 22.2% to 83.0 billion yen while current profit advanced 25.8% to 82.43 billion yen. Net income was up 17.0% to 51.33 billion yen, or 111.15 yen a share.

Astellas, Japan’s third largest drugmaker, said sales of Vesicare (solifenacin succinate) for the six months were 15.2% higher to 48 billion yen, with growth in all geographic regions. However, the company noted that, as a result of generic competition in the USA, and despite sales growth in Japan, Europe and Asia, overall revenue from the immunosuppressant Prograf (tacrolimus) slipped 2.1% to 79.9 billion yen. US sales of Prograf in the USA plunged 27% to 15.5 billion yen.

Eisai hit by generic competition for Aricept