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Japan-Update

Drugmaker Otsuka touches 2017 low as new hits prove elusive

Loss of patent on mainstay antipsychotic has left gaping hole in profit

TOKYO -- Investors are harboring doubts about Japanese drugmaker Otsuka Holdings' growth strategy as new products fail to compensate for declining sales of a former blockbuster.

The company's Tokyo-listed shares fell as much as 4% or so to a year-to-date low of 4,646 yen Tuesday afternoon, with the sell-off quickening after the release of January-June earnings that showed a double-digit net profit decline.

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