Astellas Raises Full-Year Net Income Forecast on Lower Costs

Astellas Pharma Inc., 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.