How Astellas’ CFO weighs cash management, leadership and ‘nomikai’ culture

In pharma, cash flow is relatively strong, but risk is also very high because science is science. Success rates [in R&D] are low. When you have a good asset, cash flow for several years is predictable, but then the loss of exclusivity comes. That is the cycle.Second, clarity and communication are critical. People struggle when communication is unclear or when visibility is low.In uncertainty, we need to focus on what we can control. I cannot control exchange rates or geopolitical risks. But if the environme ...