Higher Sales Boost Profits At Kyowa Hakko

Ordinary profits improved 30.1% to 22.1 billion yen ($247.3 million), and net profits surged 36.3% to 8.6 billion yen in the financial year ended December 31, 1994, for Japanese company Kyowa Hakko.

A sales increase of 5.9% to 311.7 billion yen, with a particularly favorable performance by the pharmaceutical division, was also reported. The firm's biotechnology products represented 46% of sales last year, achieving sales of 24 billion yen. It was noted that business outside of Japan decreased as a result of the strength of the yen.

Antihypertensive Conel (benidipine) had sales amounting to 16 billion yen, up 45.4%. Turnover of the product is expected to reach 20 billion in 1995. Sales of the antifungal agent Itrizole (itraconazole) were 10 billion yen, advancing from 2 billion a year earlier.