Surge In Profits At Chugai Pharmaceutical

Japan's Chugai Pharmaceutical achieved a sales increase in 1994 of 7.5% to 162.6 billion yen ($1.82 billion), with sales of its epoetin beta product Epogin making a notable contribution. Sales of the product amounted to 381.3 million yen, up 27%.

Net profits for the year were 7.6 billion yen, up 8.3%, and ordinary profits advanced 16.8% to 19.9 billion yen. This was a record achievement surpassing the company's previous record for operating profits of 18.9 billion yen in 1987, reports Pharma Japan.

It is noted that despite the record level achieved, the ordinary profit ratio was around 11.2%, which is low compared to other companies. This has led Chugai to call for greater efforts to stimulate business and take steps to improve its sales/profit structure.