Astellas Pharma Announces Major Management Restructuring Amid Strong Financial Performance

Astellas Pharma reported impressive financial results for the first nine months of FY2024, with revenue increasing by 22.2% to ¥1,453,029 million and core operating profit rising by 44.1% to ¥297,543 million1.

Despite strong financial performance, Astellas announced significant changes to its management structure, effective April 1, 20254.

New top management positions were created, including Chief Research & Development Officer (CRDO), Chief Commercial & Medical Affairs Officer (CCMAO), and General Counsel and Chief Ethics & Compliance Officer (GC & CECO)4.

Tadaaki Taniguchi will become the new CRDO, integrating research, development, and Primary Focus teams4.

Claus Zieler will assume the role of CCMAO, combining Commercial and Medical Affairs functions4.

Rao V. Mantri will join as Chief Manufacturing Officer (CMfgO), and Tatjana Dragovic will become the new GC & CECO4.

The restructuring will result in the elimination of the CMO, CCO, and CScO roles, with several executives, including Yoshitsugu Shitaka, Hideki Shima, and Catherine Levitt, resigning effective March 31, 20254.

Naoki Okamura will continue as President and CEO4.

The management changes aim to enhance drug discovery and delivery efficiency, promoting swift and efficient drug development from early research stages through commercialization4.

Despite the strong nine-month performance, Astellas reported a loss of ¥24.15 billion for the period, attributed to intangible asset impairments and foreign exchange losses8.

Sources:

1. https://www.astellas.com/en/system/files/f4fb4347a5/3q2024_en.pdf

4. https://www.stocktitan.net/news/ALPMY/astellas-makes-announcement-about-management-23a9ilsdxkoc.html

8. https://www.marketscreener.com/quote/stock/ASTELLAS-PHARMA-INC-6491262/news/Astellas-Pharma-Swings-Into-Red-in-Fiscal-Nine-Months-on-Intangible-Assets-Forex-Losses-Shares-She-48957582/