Japan's Astellas shows nearly 50% gain in Q1 even as sales drag on price revisions

First quarter financial year core operating profit for Tokyo-based Astellas Pharma reached ¥67.1 billion, up a tad more than 49% even as overall sales dipped on reimbursement price revisions in Japan.

However, the company said in a release that sales of Xtandi (enzalutamide) grew and aided the bottom line along with the transfer of the global dermatology business in April, part of a $727 million deal with Danish specialty product firm LEO last year.

"We are pleased with our solid performance and ability to achieve sustainable growth through increasing sales of Xtandi … and overall (bladder) treatments, new product introductions and focused investment in innovation and strengthening our base,” said Yoshihiko Hatanaka, president and CEO of Astellas.

Overall sales, however, fell nearly 6% in the first quarter ended June 30, compared to the same period a year ago, to ¥337.8 billion.

- here's the release

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