Japanese pharmaceutical company Sankyo posted a 4% increase in recurring profits to 87 billion yen ($812.3 million) for the fiscal year ended March 31, 1996. Net profits for the year were 41.7 billion yen, up 12.1%, while earnings per share grew 14.8% to 18.60 yen. Sales advanced 2% to 410.5 billion yen, buoyed by turnover of the lipid-lowering agent Mevalotin (pravastatin) which increased 7% to 133.5 billion yen.
The company is forecasting a 1% increase in both revenues and recurring profits for the current fiscal year. Net profits should rise around 8% and EPS is expected to be flat.
Ono Pharmaceutical experienced a rise in recurring profits of 11% to 55.2 billion yen. Net profits were 25.3 billion yen, ahead 15%, while EPS was 205.70 yen, up 14.9%. Turnover at 132 billion yen was up 9%, supported by a 14% rise in sales of prostaglandin and an 8% increase in sales of Kinedak (epalrestat) for the treatment of diabetes.
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