Shionogi's Crestor boosts fiscal 2007
In the 12 months ended March 31, 2008, sales of the cholesterol-lowerer Crestor (rosuvastatin) drove Shionogi's strong performance. The Japanese drugmaker's sales grew 2.1% year-on-year to 155.1 billion yen ($1.52 billion), while royalty income surged 50.7% to 32.0 billion yen.
According to the firm, a recent decline in turnover of its prescription drugs was arrested in fiscal 2007. In addition to a strong showing from Crestor, which is licensed to Anglo-Swedish drug major AstraZeneca, the firm's anti-allergy drug Claritin (loratidine) and painkiller OxyContin (oxycondone HCl), helped alleviate declining sales of its one-time best-selling product Flomox (cefcapene pivoxil), an oral cephem antibiotic.
Company president Isao Teshirogi said that the firm's profit structure is still weak as it is heavily reliant on royalty revenues. He said that Shionogi will use this income to strengthen its manufacturing capabilities and business administration system ahead of a move towards globalization and a position where it can market its own products overseas.
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