Profit drop for Taisho, but firm sees recovery
Japan's Taisho Pharmaceutical's profit plummeted 65% year-on-year for fiscal 2008, due to goodwill amortization, but the company predict a dramatic recovery in 2009.
The firm's net income was 8.82 billion yen ($90.8 million), versus 11.93 billion yen. Turnover was up 3% to 256.21 billion yen. Pharmaceutical sales declined 2% to 95.0 billion yen thought sales of "ethical drugs" increased 3% to 84.7 billion yen.
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