The following is a summary of the Astellas Pharma Inc. (ALPMF) Q2 2023 Earnings Call Transcript:

Financial Performance:

• Astellas Pharma reported a revenue decrease of 2% YoY due to Lexiscan generics' impact.

• Core operating profit increased by 17% YoY, but revenue and core operating profit were behind full-year forecasts due to Lexiscan generics.

• Cost of sales ratio aligned with expectations while SG&A costs increased by 12.1% YoY. R&D expenditure saw a decrease by 12.7% YoY.

• Global sales of leading drugs like XTANDI, PADCEV, and XOSPATA increased significantly while new drug VEOZAH had a good initial uptake in the US market.

Business Progress:

• Astellas submitted EU approval for product ACP after similar moves in the US.

• In the immuno-oncology domain, ASP2138 was granted open drug designation by the FDA for gastric and GEJ cancer treatment.

• Clinical trials in blindness and regeneration resumed with two patients treated in June.

• Astellas entered into collaborations with PeptiDream and Cullgen to advance targeted protein degradation.

• The company disclosed organizational restructuring with costs of ¥20 billion, including changes within Japan and global adjustments. They are hiring a new CFO.

• Astellas showed progress in its CSP2021 goal with expectations for revenues from products like XTANDI, PADCEV, XOSPATA, zolbetuximab, and the newly acquired ACP.

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