Astellas sees Q1 revenue fall as generics almost wipe out Lexiscan sales in US

01 Aug 2023
firstwordpharma.com
Phase 1Financial StatementBiosimilar
Headline results for the first quarter:
Revenue: JPY 375 billion ($2.6 billion), down 1.8%
Profit: JPY 33.1 billion ($232 million), up 33.5%
Note: All changes are versus the prior-year period unless otherwise stated
What the company said:
Astellas noted that while sales of key products including Xtandi, Padcev and Xospata showed "steady growth" during the first quarter, revenue from Lexiscan in the US plunged nearly 85% to JPY 29 billion due to generic competition.
Other results:
Xtandi: JPY 174.1 billion, up 7.2%
Betanis, Myrbetriq and Betmiga: JPY 49.2 billion, up 2.7%
Prograf: JPY 49.1 billion, down 5.3%
Padcev: JPY 15.2 billion, up 44.2%
Xospata: JPY 13 billion, up 24.2%
Vesicare: JPY 3.7 billion, down 8.4%
Evrenzo: JPY 1 billion, up 31%
Looking ahead:
Astellas reaffirmed that it expects revenue for fiscal year 2023 of JPY 1.52 trillion ($10.7 billion), broadly in line with the prior 12-month period, with sales of Xtandi reaching nearly JPY 670 billion ($4.7 billion billion). Meanwhile, core profit is seen growing 1.5% to JPY 228 billion ($1.6 billion).
Pipeline updates:
The company disclosed that it discontinued Phase I development of ASP0598 for chronic tympanic membrane perforation.
($1 = JPY 142.715)
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