Daiichi Sankyo net income drops 45% in Apr-Sept

Japanese drug maker Daiichi Sankyo, which holds 64 per cent stake in Ranbaxy Laboratories, today reported a 45 per cent drop in net income for April-September this year.

The company has a net income of 18.69 billion yen for six months ended September compared to 33.97 billion yen in the same period last year, Daiichi Sankyo said in a statement.

"Despite the appreciated Japanese yen compared with the same period last year, the Group's revenue increased by a contribution of 66.1 billion yen from the net sales of Ranbaxy Laboratories, which was consolidated as a subsidiary in October 2008," Daiichi Sankyo said.

The company said its net sales in India amounted to 27.9 billion yen due in part to the net sales of Ranbaxy. Net sales in other regions amounted to 23 billion yen, up 108.4 per cent due in part to the increase in net sales of the Asian region.

For April-September, pharma group's net sales rose to 470.56 billion yen from 406.32 billion yen in the same period last year. While overseas sales contributed to 49.4 per cent of overall sales of the company.