Fujisawa
In February 2004 Yamanouchi announced it was to buy Fujisawa in a deal worth $7.76bn with a planned completion date of April 2005. The deal creates Japan's second largest sales force, a broad product portfolio and a strong platform for overseas expansion.
Fujisawa is in a strong financial position, enabling it to fund a variety of strategic actions such as further geographic expansion and increased investment in R&D. Sales have risen 8.3% year-on-year since 1998, while operating profit has risen 16.8% year-on-year over the same period.
Fujisawa has already achieved a strong international presence, with 41.9% of sales derived from overseas markets in 2002. This success has been achieved through sales of Prograf and Protopic but the company must broaden its overseas portfolio if it is to secure its future as a truly global pharmaceutical company.
The tacrolimus franchise, including Prograf and Protopic, will remain Fujisawa's key growth driver over the next five years. With combined sales of around $1.7bn in 2008, these products are forecast to account for nearly half of the company's total ethical sales.
Some 90% of US patients receiving a liver transplant are prescribed Prograf, as are 60% of patients who have kidney transplants. Forthcoming line extensions should help sales of the drug increase to $ 1,344m in 2008.
A co-promotion agreement signed with GlaxoSmithKline for Protopic in June 2003 will considerably increase Fujisawa's marketing strength in the US, enabling it to compete effectively against Novartis' rival product, Elidcl.
□ In Japan, Fujisawa has driven recent growth by in-licensing drugs, mainly in the CNS therapy area. Myslee, in-licensed from Sanofi-Synthelabo, achieved sales growth of 73.9% in 2002, while Seroquel, in-licensed from AstraZeneca, achieved growth of 90.2%.
Fujisawa launched Funguard, a new class of antifungal, in Japan in December 2002. With the company's reputation in this area and an increase in the prophylactic use of antifungals, sales of the drug could approach $300m in 2008.