Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Astellas Pharma Inc.
  6. News
  7. Summary
    4503   JP3942400007

ASTELLAS PHARMA INC.

(4503)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Astellas Pharma : Financial Results (Q1/FY2022)

07/31/2022 | 11:14pm EDT

August 1, 2022

Contact:

Corporate Advocacy & Relations,

Astellas Pharma Inc.

TEL +81-3-3244-3201

Financial Results of Astellas for the First Three Months of FY2022

Japan, August 1, 2022 - Astellas Pharma Inc. (TSE: 4503, President and CEO:

Kenji Yasukawa, "the Company") today announced the financial results for the first three months (April 1, 2022 - June 30, 2022) of the fiscal year 2022 ending March 31, 2023 (FY2022).

Consolidated financial results for the first three months of FY2022 (core basis)(Millions of yen)

First three months

First three months

Change

of FY2021

of FY2022

(%)

326,143

381,791

+55,647

(+17.1%)

Core operating profit

62,820

55,292

-7,527

(-12.0%)

49,241

45,843

-3,399

(-6.9%)

Cautionary Notes

In this material, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management's current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas' intellectual property rights by third parties.

Information about pharmaceutical products (including products currently in development) which is included in this material is not intended to constitute an advertisement or medical advice.

1

1. Qualitative information on consolidated financial results for the first three months of FY2022

Business performance

(Note))>

Consolidated financial results (core basis) in the first three months of FY2022 are shown in the table below.

While revenue increased, core operating profit and core profit decreased.

Consolidated financial results (core basis)

(Millions of yen)

First three months

First three months

Change

of FY2021

of FY2022

(%)

326,143

381,791

+55,647

(+17.1%)

62,231

88,870

+26,639

(+42.8%)

137,109

153,396

+16,287

(+11.9%)

58,313

74,007

+15,695

(+26.9%)

5,963

10,745

+4,782

(+80.2%)

292

350

+58

(+19.8%)

62,820

55,292

-7,527

(-12.0%)

49,241

45,843

-3,399

(-6.9%)

26.58

25.12

-1.46

(-5.5%)

(Note) The Company discloses financial results on a core basis as an indicator of its recurring profitability. Certain items reported in financial results on a full basis that are deemed to be non-recurring items by the Company are excluded as non-core items from these financial results on a core basis. These adjusted items include impairment losses, gain/loss on sales of property, plant and equipment, restructuring costs, loss on disaster, a large amount of losses on compensation or settlement of litigations and other legal disputes, and other items that are deemed to be excluded based on the Company's judgment. A reconciliation table between results on a full basis and results on a core basis is provided in the "Supplementary Documents for Q1/FY2022 Financial Results."

2

Revenue

  • Sales of XTANDI for the treatment of prostate cancer and XOSPATA for the treatment of acute myeloid leukemia continued to grow.
  • PADCEV for the treatment of urothelial cancer contributed to revenue growth due to significant expanding of sales in the United States and Japan as well as an increase in the number of countries in which the product was launched in Europe.
  • Additionally, the expansion of sales of Betanis / Myrbetriq / BETMIGA for the treatment of overactive bladder ("OAB") and the immunosuppressant agent Prograf as well as the growth of sales of EVENITY for the treatment of osteoporosis in Japan contributed to revenue growth.

compared to those in the corresponding period of the previous fiscal year ("yearyear")

Core operating profit / Core profit

- Gross profit increased by 11.0% year-on-year to ¥292.9 billion. The cost-to- revenue ratio increased by 4.2 percentage points year-on-year to 23.3%, mainly due to the foreign exchange rate impact from the elimination of unrealized profit in intra-group transactions (increase of ¥12.3 billion year-on-year).

  • Selling, general and administrative expenses increased by 11.9% year-on-year to ¥153.4 billion. Although expenses decreased as a result of global optimization of personnel aligned with transformation of product portfolio (decrease of approximately ¥3.0 billion year-on-year) and reduction of mature products-related costs (decrease of approximately ¥2.0 billion year-on-year), the total amount increased due to foreign exchange rate impact (increase of ¥16.7 billion year-on- year) and an increase in investment for new product launch readiness (increase of approximately ¥2.0 billion year-on-year). Selling, general and administrative expenses, excluding co-promotion fees of XTANDI in the United States, increased by 7.4% year-on-year to ¥110.3 billion.
  • Research and development (R&D) expenses increased by 26.9% year-on-year to ¥74.0 billion. The total amount increased due to foreign exchange rate impact (increase of ¥7.5 billion year-on-year) in addition to one-time expenses recorded during this period, which was included in the full-year forecast.
  • Amortisation of intangible assets increased by 80.2% year-on-year to ¥10.7 billion.

As a result of the above, core operating profit decreased by 12.0% year-on-year to ¥55.3 billion, and core profit decreased by 6.9% year-on-year to ¥45.8 billion.

3

Impact of exchange rate on financial results

The exchange rates for the yen in the first three months of FY2022 are shown in the table below. The resulting impacts were a ¥35.5 billion increase in revenue and a ¥7.4 billion decrease in core operating profit compared with if the exchange rates of the first three months of FY2021 were applied.

Average rate

First three months

First three months

Change

of FY2021

of FY2022

US$/¥

109

130

¥20

(Weakening of yen)

€/¥

132

138

¥6

(Weakening of yen)

Change from beginning

As of June 30, 2021

As of June 30, 2022

to end of period

US$/¥

¥0

¥14

(Strengthening of yen)

(Weakening of yen)

€/¥

¥2

¥8

(Weakening of yen)

(Weakening of yen)

4

Consolidated financial results on a full basis in the first three months of FY2022 are shown in the table below. While revenue increased, operating profit and profit decreased.

The full basis financial results include "Other income" and "Other expenses," which are excluded from the core basis financial results. In the first three months of FY2022, "Other income" was ¥16.3 billion (¥0.4 billion in the corresponding period of the previous fiscal year) and "Other expenses" was ¥38.4 billion (¥27.1 billion in the corresponding period of the previous fiscal year).

As "Other income," the Company recorded foreign exchange gains of ¥14.1 billion (¥0.3 billion in the corresponding period of the previous fiscal year). Impairment loss of intangible assets due to the termination of the research and development of the gene therapy programs AT702, AT751 and AT753 (¥22.0 billion) as well as the increase in fair value of contingent consideration resulting from the application for approval of fezolinetant in the United States (¥13.6 billion) were recorded as "Other expenses."

Consolidated financial results (full basis)

(Millions of yen)

First three months

First three months

Change

of FY2021

of FY2022

(%)

Revenue

326,143

381,791

+55,647

(+17.1%)

Operating profit

36,090

33,147

-2,943

(-8.2%)

Profit before tax

35,830

31,679

-4,152

(-11.6%)

Profit

30,687

24,812

-5,875

(-19.1%)

Basic earnings per

16.56

13.59

-2.97

share (yen)

(-17.9%)

Comprehensive

36,206

134,396

+98,190

income

(+271.2%)

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Astellas Pharma Inc. published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 03:13:03 UTC.


© Publicnow 2022
All news about ASTELLAS PHARMA INC.
09/20Astellas and MBC BioLabs Announce Astellas Future Innovator Prize to Help Biotech Start..
AQ
09/12Seagen, Merck, Astellas Release Data From Trial of Padcev, Keytruda to Treat Bladder Ca..
MT
09/12Astellas, Seagen and Merck Announce Results of Clinical Trial Investigating PADCEV(R) (..
CI
09/04Astellas Pharma Inc. Announces Topline Results from Phase 3 Long-Term Safety Study of F..
CI
08/18Astellas Pharma Gets US FDA Nod on New Drug Application for Menopause
MT
08/18ADRs End Lower, Geely Automobile Trades Actively
DJ
08/18U.S. FDA Accepts Astellas' New Drug Application for Fezolinetant
CI
08/10Verizon Business selected to transform Astellas Pharma's global network infrastructure
AQ
08/10Verizon Communications Unit Wins Network Management Contract From Astellas Pharma
MT
08/09Astellas Oncology Announces Grand Prize Winner in Annual C3 Prize to Cultivate Innovati..
AQ
More news
Financials
Sales 2023 1 454 B 10 075 M 10 075 M
Net income 2023 206 B 1 426 M 1 426 M
Net cash 2023 395 B 2 738 M 2 738 M
P/E ratio 2023 16,6x
Yield 2023 3,18%
Capitalization 3 451 B 23 910 M 23 910 M
EV / Sales 2023 2,10x
EV / Sales 2024 1,92x
Nbr of Employees 14 522
Free-Float 98,9%
Chart ASTELLAS PHARMA INC.
Duration : Period :
Astellas Pharma Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ASTELLAS PHARMA INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 1 889,00 JPY
Average target price 2 596,15 JPY
Spread / Average Target 37,4%
EPS Revisions
Managers and Directors
Kenji Yasukawa Chairman, President & Chief Executive Officer
Minoru Kikuoka Chief Financial Officer
Yoshitsugu Shitaka Chief Scientific Officer
Fumiaki Sakurai Head-Business Administration & Compliance
Mamoru Sekiyama Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
ASTELLAS PHARMA INC.1.82%24 298
JOHNSON & JOHNSON-2.54%438 337
ELI LILLY AND COMPANY12.76%295 941
ROCHE HOLDING AG-18.41%259 291
ABBVIE INC.5.66%252 944
PFIZER, INC.-25.35%247 392