TOKYO (dpa-AFX) - Astellas Pharma Inc. (ALPMY, ALPMY), a Japanese
pharmaceutical company, on Thursday posted a decline in earnings for the full
year, mainly due to higher costs, expenses, and amortization.

However, the earnings were supported by an increase in revenue and a gain on
divestiture of over 9 billion yen, which averted the company from reporting a
net loss for the year.

For the 12-month period to March 31, the drug maker posted a net profit of
17.045 billion yen or 9.47 yen per share, lesser than 98.714 billion yen or
54.09 yen per share, registered last year.

Pre-tax income plunged to 24.969 billion yen from previous year's 132.361
billion yen.

Operating income stood at 25.518 billion yen as against 133.029 billion yen a
year ago.

Cost of sales moved up to 292.485 billion yen from 288.353 billion yen of
previous year.

Selling, general and administrative expenses were at 740.110 billion yen,
compared with 630.272 billion yen in 2023.

Research and development expenses were up at 294.187 billion yen from 276.128
billion yen a year ago, mainly due to foreign exchange rate impact, an increase
of 12.5 billion yen year-on-year, and the impact of the acquisition of IVERIC
bio, Inc.

Amortization of intangible assets was 98.820 billion yen, higher than 38.436
billion yen last year, due to amortization of intangible assets for IZERVAY,
which the company acquired in its acquisition of IVERIC bio, Inc.

Gain on divestiture of intangible assets surged to 9.735 billion yen from 212
million yen in 2023.

Revenue was 1.603 trillion yen, up from previous year's 1.518 trillion yen.

Revenues were helped by a significant rise in the sales of PADCEV in the U.S and
Europe, and sales of VEOZAH and IZERVAY.

Sales of PADCEV surged to 85.4 billion yen from last year's 44.4 billion yen.

VEOZAH generated sales of 7.3 billion yen, compared with zero sales in 2023.

Sales of IZERVAY were at 12.1 billion yen as against zero sales last year.

Looking ahead, for the full-year to March 31,2025, the company expects net
profit of 30 billion yen, up 76 percent from last year.

Basic income per share is projected to be at 16.73 yen, up 75.9 percent from
previous year.

Operating profit is expected to rise by 88.1 percent to 48 billion yen from last
year.

Astellas Pharma expects revenue of 1.650 trillion yen, up 2.9 percent from
previous year.

The drug maker expects to pay total annual dividend of 74 yen per share, higher
than 70 yen per share of 2023.



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