UPDATE 2-Astellas Pharma keeps profit forecast as prostate cancer drug sales rise [Reuters]
ASTELLAS PHARMA UNSP/ADR (ALPMY)
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Source: Reuters
UPDATE 2-Astellas Pharma keeps profit forecast as prostate cancer drug sales rise (Updates shares, adds results of Daiichi Sankyo, Eisai in 10th, 11th paragraphs) By Rocky Swift TOKYO, Jan 31 (Reuters) - Japan’s Astellas Pharma Inc reiterated its full-year operating profit forecast on Friday, as a jump in sales of its prostate cancer drug Xtandi countered overseas acquisition costs. The company said it expects an operating profit of 263 billion yen ($2.4 billion) for the year ending March 31, higher than analysts’ average expectation of 256 billion yen, according to IBES data from Refinitiv. Astellas reported an annual operating profit of 244 billion yen last year. Shares in the company closed 2.4% higher in Tokyo compared with a 1% rise in the broader market. Sales of Xtandi rose 18% to 298 billion yen in the third quarter ended Dec. 31. However, core operating profit for the quarter was 3.3% lower, hurt partly by a 2.5% drop in revenue from Prograf, used to prevent rejection of orga
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