Astellas' H1 profit falls 13 pct, outlook cut

TOKYO, Nov 5 - Astellas Pharma Inc, Japan's second-largest drugmaker, said on Thursday its recurring profit fell 13 percent in April-September, hit by the stronger yen and competition from a generic drug.

Astellas posted a recurring profit of 128.3 billion yen ($1.42 billion) in the half year, down from 147.63 billion yen in the same period last year.

Novartis AG's generic drug unit Sandoz launched the first generic version of Astellas's best-selling drug, Prograf, which helps prevent the rejection of a kidney or liver transplant, in August in the United States.

Last week, Takeda Pharmaceutical, Japan's No.1 drugmaker, and other Japanese drugmakers reported mixed results, reflecting the mixed performances of their mainstay drugs, while they similarly faced pressure from the yen's strength.

Overseas rivals reported relatively upbeat results for the latest quarter. U.S. giant Pfizer posted profit growth as cost cuts offset a negative foreign exchange impact and falling drug sales.

Astellas cut its recurring profit forecast for the full year to March 2010 to 200.5 billion yen from 219 billion yen.

The company's forecast falls short of a consensus figure of 228 billion yen in a poll of 13 analysts by Thomson Reuters I/B/E/S.

Astellas shares are down 7 percent this year, underperforming the benchmark Nikkei average, which has gained 11 percent. ($1=90.60 Yen)