News

TOKYO, April 12, 2024 – Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, “Astellas”) today announced that it expects to book approximately ¥70.0 billion in the fourth quarter of fiscal year 2023 for an impairment loss for intangible assets and change in fair value of contingent consideration as other expenses. Consequently, the financial forecast for fiscal year 2023(full basis) announced on February 5, 2024, has been revised as follows.

(1) Booking and details of impairment loss for intangible assets (Estimated amount)

• As a result of reevaluation of the intangible asset for AT808 for the treatment of Friedreich’s Ataxia, Astellas will book an impairment loss for intangible assets of approximately ¥40.0 billion related to AT808 as other expenses.
• As a result of a review of plans for EVRENZOTM for the treatment of anemia of chronic kidney disease sold in Japan and Europe, considering the sales situation in each country, Astellas will book an impairment loss for intangible assets of approximately ¥16.0 billion related to EVRENZOTM as other expenses.

(2) Booking and details of change in fair value of contingent consideration  (Estimated amount)

• Due to updates to the clinical development plan for zolbetuximab for pancreatic adenocarcinoma and fluctuations in foreign currency exchange rates, Astellas will book approximately ¥8.0 billion in changes in the fair value of the contingent consideration as other expenses.

(3) Revision of financial forecasts

Astellas' consolidated financial forecasts for the fiscal year ending March 31, 2024 have been revised due to booking of an impairment loss for intangible assets and change in fair value of contingent consideration as discussed above. There are no changes to the consolidated financial forecasts for the fiscal year ending March 31, 2024 (core basis) and dividend forecast.

＜Full basis＞

(Millions of yen)

About Astellas
Astellas Pharma Inc. is a pharmaceutical company conducting business in more than 70 countries around the world. We are promoting the Focus Area Approach that is designed to identify opportunities for the continuous creation of new drugs to address diseases with high unmet medical needs by focusing on Biology and Modality. Furthermore, we are also looking beyond our foundational Rx focus to create Rx+® healthcare solutions that combine our expertise and knowledge with cutting-edge technology in different fields of external partners. Through these efforts, Astellas stands on the forefront of healthcare change to turn innovative science into VALUE for patients. For more information, please visit our website at https://www.astellas.com/en.

Cautionary Notes
In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management’s current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas’ intellectual property rights by third parties.
Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice.

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