Astellas Reports FY2016 Financial Results

Astellas Pharma announced the financial results for fiscal year 2016 ended March 31, 2017. Sales for the full-year of FY2016 decreased by 4.4% compared to the previous fiscal year, resulting in 1,311.7 billion yen.

Sales decreased due to the impact of foreign exchange as well as the impact of the NHI drug price revision in Japan enforced in April 2016. Sales increased by approximately 2% year-on-year excluding the factors associated with the transfer of the global dermatology business implemented in April 2016 and the impact of the foreign exchange.

"We achieved multiple milestones including the acquisition of Ganymed last December and an agreement with Ogeda shareholders to acquire Ogeda last month. These acquisitions and other alliances will expand Astellas’ late-stage pipeline and contribute to its mid-to-long term growth," Yoshihiko Hatanaka, President and CEO, Astellas said. "We remain committed to creating innovative medical solutions and delivering value for patients and all stakeholders, as we continue to advance our strategic plan through maximizing the product value, creating innovation and pursuing operational excellence in the fiscal year 2017."

Sales of Xtandi marginally increased and sales of overall OAB treatments Vesicare (solifenacin succinate) and Betanis/Myrbetriq/Betmiga (mirabegron) decreased due to the impact of foreign exchange, but sales of each product steadily increased on a local currency basis. Prograf (tacrolimus) sales also decreased.

Sales in the Americas decreased by 9.4% year-on-year to 412.4 billion yen; however sales on a U.S. dollar basis increased by 0.5% year-on-year to 3,805 million USD. The increase in sales of Cresemba (isavuconazonium sulfate) contributed to the sales growth. Sales of products including Xtandi, overall OAB treatments (VESIcare and Myrbetriq) and Lexiscan (regadenoson) decreased due to the impact of foreign exchange, while the sales of each product on a US dollar basis increased.

Sales in Japan decreased by 3.3% year-on-year to 480.8 billion yen. Sales in the Japanese market decreased by 6.3% year-on-year to 452.7 billion yen mainly due to the impact of the NHI drug price revision.