Astellas Raises Full-Year Net Income Forecast on Lower Costs

Astellas Pharma Inc. (4503), Japan’s third- largest drugmaker, raised its full-year profit forecast 4.9 percent, citing lower costs and a one-time gain from selling land.

Net income for the 12 months ending March 31 may total 85 billion yen, compared with an earlier estimate of 81 billion yen, the Tokyo-based company said in a statement today. Costs for research and development may be 6 billion yen less than previously estimated, Astellas said. Sales and administrative costs may also be less than Astellas predicted earlier, the company said.

To contact the reporter on this story: Kanoko Matsuyama in Tokyo at kmatsuyama2@bloomberg.net

To contact the editor responsible for this story: Jason Gale at j.gale@bloomberg.net

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