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Press release
Notice Regarding Progress in Core Business, Impairment Loss and Revision of Financial Forecasts for FY2024
Jan 24, 2025

TOKYO, January 24, 2025 – Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, “Astellas”) today announced that the financial forecast for fiscal year 2024 announced on October 30, 2024 (Core basis and Full basis), has been revised in accordance with progress in core business and booking impairment loss as follows.

  1. Progress in Core Business:
    Mainly, the expansion of sales of XTANDI™ (enzalutamide) for the treatment of prostate cancer in the U.S. and impact of foreign exchange are expected to contribute to increased revenue and profit in the core business.
     
  2. Booking and details of impairment loss on major intangible assets:
    (Estimated amount)
    ・As a result of the withdrawal of the marketing authorization application for IZERVAY™ (avacincaptad pegol intravitreal solution) for the treatment of geographic atrophy secondary to age-related macular degeneration in Europe, we have conducted a review of our plans and Astellas will book an impairment loss for intangible assets of approximately 116 billion yen related to IZERVAY™ as other expenses.

    ・As a result of the update to the research and development plan for the gene therapy program AT466 for patients with myotonic dystrophy, we have conducted a review of the asset value and Astellas will book an impairment loss for intangible assets of approximately 52 billion yen related to AT466 as other expenses.

    ・As a result of examining the project related to iota ultra-small implantable medical devices, Astellas will book an impairment loss of approximately 8 billion yen related to projects that will not continue for strategic reasons as other expenses.
     
  3. Revision of financial forecasts:
    Astellas' consolidated financial forecasts for the fiscal year ending March 31, 2025 (Core basis and Full basis), have been revised due to the progress in the core business and booking of an impairment loss on intangible assets as discussed above. There is no change to the dividend forecast of 74 yen announced on April 25, 2024.

 

＜Core basis＞

(Millions of yen)

  Revenue Core operating profit Core Profit for the year Basic core earnings per share (yen)
Previous
forecast(A)		 1,800,000 300,000 220,000 122.90
Revised
forecast(B)		 1,900,000 370,000 274,000 153.06
Change(B-A) 100,000 70,000 54,000 -
Change(%) 5.6 23.3 24.5 -
(Ref.)
Actual fiscal year 2023		 1,603,672 184,641 150,981 84.19
 

 

＜Full basis＞

(Millions of yen)

  Revenue Operating profit Profit before tax Profit for the year Profit attributable to owners of the parent Basic earnings per share(yen)
Previous
forecast(A)		 1,800,000 80,000 70,000 50,000 50,000 27.93
Revised
forecast(B)		 1,900,000 11,000 1,000 14,000 14,000 7.82
Change(B-A) 100,000 -69,000 -69,000 -36,000 -36,000 -
Change(%) 5.6 -86.2 -98.6 -72.0 -72.0 -
(Ref.)
Actual fiscal year 2023		 1,603,672 25,518 24,969 17,045 17,045 9.51
 

 

About Astellas
Astellas is a global life sciences company committed to turning innovative science into VALUE for patients. We provide transformative therapies in disease areas that include oncology, ophthalmology, urology, immunology and women's health. Through our research and development programs, we are pioneering new healthcare solutions for diseases with high unmet medical need. Learn more at www.astellas.com.

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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