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Virus-Hit Astellas Cuts Forecast

But Top Seller Xtandi Remains Solid

 
• By Ian Haydock

Although oncology remained strong, Japanese major says it saw multiple impacts from the pandemic, including on hospital visits and clinical trial recruitment, and has already cut its full-year guidance.

Coronavirus (Viacheslav Lopatin/Shutterstock.com)
Reduced Patient Visits Affect Astellas • Source: Shutterstock

Astellas Pharma, Inc. has hauled back its core revenue and profit guidance for the fiscal year ending next 31 March, citing the impact of the coronavirus pandemic on various aspects of its business, although its mainstay cancer product and other oncology operations remained strong.

Addressing a results briefing for the fiscal first quarter ended 30 June, chief financial officer Naoki Okamura said “the first quarter was significantly affected by COVID-19” including by pandemic-related inventory...

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