Kissei's existing business flat but R&D pipeline should lead to growth in

Kissei Pharmaceuticals of Japan recently hosted a visit from analysts atHSBC which saw the company in confident mood regarding the state of its research pipeline. This would appear to represent good news for the firm, especially given its current position, as its existing business has not been overly-impressive of late.

The analysts note that Kissei is still heavily dependent on revenues from the domestic market and most of its leading products are mature. However, news flow is expected to be good over the next year and the company's present performance is ahead of forecasts.

The most advanced product for the company involves a new use of its antihistamine Rizaben (tranilast), which is being developed for the prevention of restenosis after percutaneous transluminal coronary angioplasty (PTCA). The Japanese Ministry of Health and Welfare has asked for data on Rizaben's efficacy in preventing cardiovascular events and Kissei intends to supply this from a trial being conducted overseas by SmithKline Beecham, which is due to be completed in 2001.