Historic Fiscal YearFor Fujisawa

Japanese pharmaceutical company Fujisawa's 1994 fiscal year has been a milestone year in two ways: it marks the 100th anniversary of the company's existence; and it also saw the launch of immunosuppressant Prograf (tacrolimus). The product has been launched in Japan, the USA and is approved in the UK (Marketletters passim). Fujisawa expects to launch Prograf in the UK by the end of 1994, and the product is under review in Germany, France, Italy and Spain, according to the 1994 annual report.

Prograf, which is used in the prophylaxis of organ rejection in patients receiving allogeneic liver transplants, is expected by industry observers eventually to account for around 20% of Fujisawa's sales, which in fiscal 1994 amounted to 272 billion yen ($2.7 billion), a decrease of 3.9% over fiscal 1993.

The company attributed the decline to falling local sales by its US subsidiary Fujisawa USA and Klinge Pharma in Germany, as a result of intensified competition and health care cost containment policies in various countries. The "drastic appreciation of the yen" was also noted.