Moody's: Japan pharma outlook stable

The outlook for pharmaceutical companies rated in Japan is stable, said Moody's Investors Service in a new report. As the Japanese government's policies to curb medical expenditures and severe competition have kept domestic market growth stagnant, Moody's-rated companies are further shifting their focus to overseas markets.

Moody's said the growth of these companies' major products - especially overseas - will continue to contribute to their high profitability and moderate growth.

On the other hand, revenue concentration in major products is likely to rise as the companies rapidly grow, the agency said.

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