Santen Pharma unveils new mid-term strategy

Osaka, Japan-based ophthalmic drugs specialist Santen Pharmaceuticals says that it is targeting a 3% growth in turnover, to 115.0 billion yen ($1.0 billion), and an 8% increase in operating income to 21.0 billion yen, for its mid-term strategic plan covering the period ending March 2007 to March 2011. The previous plan, which covered the period ended March 2004 to March 2006 produced operating income of 21.0 billion yen, exceeding the 18.0 billion yen target due to expansion of the firm's R&D efforts and the recovery of profitability.

Santen explained that the newly issued strategy formed part of its longer term plan to achieve global market leadership in ophthalmology by the fiscal year ending March 2016. The firm added that, to reach this goal, it would: increase its R&D expenditure, focusing specifically on the identification of compounds for the treatment of glaucoma and ailments of the cornea and retina; strengthen its production base; and firmly establish its personnel structure and corporate organization in line with its market leadership ambitions.