Daiichi Pharmaceutical group net profit up 10% in FY 2001.

TOKYO, May 14 Kyodo

Daiichi Pharmaceutical Co. said Tuesday its group net profit for the year to March 31 rose 10.2% to 31.38 billion yen as its mainstay prescription drugs sold well, especially overseas.

Domestic sales of prescription drugs grew 2.3% to 206.94 billion yen on robust growth in sales of Cravit, the mainstay synthetic antibacterial agent.

Overseas sales of prescription drugs jumped 21.4% to 64.41 billion yen due to a rise in exports to the United States and effects of the yen's depreciation against the dollar, the company said. Its overall group sales rose 4.9% to 332.75 billion yen.

Group operating profit increased 2.6% to a record 65.41 billion yen, renewing a record group operating profit for the third year in a row.

Group pretax profit rose 2.6% to 66.98 billion yen.

Reflecting the solid earnings, the firm said it will pay an annual dividend of 28 yen per share for the past fiscal year, compared with an annual 24 yen the year before that included 2 yen to commemorate the 85th anniversary of its founding.

For the year to March 31, 2003, Daiichi Pharmaceutical said it expects its group net profit to rise 11.6% to 35 billion yen and pretax profit to rise 1.5% to 68 billion yen on a 3.1% gain in sales to 343 billion yen.

It expects its group operating profit to rise 0.9% to a record 66 billion yen.