OSAKA -- Mitsubishi Tanabe Pharma will spend more than 200 billion yen ($1.61 billion) over the five years ending fiscal 2020 to expand new-drug sales in the American market under a medium-term business plan announced Monday.
"We will develop sales channels utilizing such approaches as mergers and acquisitions, and we project sales of approximately 80 billion yen in the U.S. in fiscal 2020," President Masayuki Mitsuka told a news conference here. Medicines bound for that market include a treatment for Lou Gehrig's disease, or amyotrophic lateral sclerosis, and a flu vaccine under development.
The drug company targets global group sales of 500 billion yen, up from the 411 billion yen estimated for fiscal 2015. Mitsubishi Tanabe also aims to boost net profit from the 47 billion yen estimate to 70 billion yen. And it wants to grow the ratio of overseas sales from 25% to 40%.
Mitsubishi Tanabe Pharma is acting ahead of the 2019 expiration of patent protection on Gilenya, a multiple sclerosis treatment licensed to Swiss drugmaker Novartis.