The weak yen helped push up both global revenues and costs for major Japanese firms in the fiscal year ended 31 March, while good mainstay growth benefited Daiichi Sankyo and Astellas. Chugai meanwhile had a challenging start to its calendar financial year due to lower pandemic drug stockpiling.

Astellas’ chief strategy officer, Adam Pearson, talks to Scrip about the company’s launch execution thrust for key therapies ahead of the loss of exclusivity for Xtandi and also deal-making appetite and choices, including the Iveric Bio buyout and walking away from the collaboration with Cartesian Therapeutics.

Eli Lilly, striving to outpace Novo Nordisk, dominated the dealmaking scene in 2023 by executing six acquisitions. Although Pfizer, BMS and AbbVie sealed the largest M&A deals of the year, they did not lead in terms of volume.

The success of Enhertu led Daiichi Sankyo to raise its annual forecast for the fiscal year ending 31 March, while Eisai is readying for Leqembi’s steady US growth. Meanwhile, Astellas, Chugai and Shionogi balanced growth for some products with declines for others.