Legal

Astellas Pharma Europe Ltd. Ensures Financial Reporting Compliance, Accuracy, and Efficiency

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Executive Summary

Astellas wanted to manage financial reporting for all of the global pharmaceutical company's European businesses, which includes 28 separate legal entities spread throughout the region and facilitate timely accurate financial reporting to the global headquarters in Tokyo and ensure compliance with J-SOX, the Japanese equivalent of Sarbanes-Oxley. The challenge was to enable management reporting by therapeutic area, pharmaceutical product, region, and country. Astellas deployed Oracle's Hyperion financial consolidation and data quality management applications to replace Hyperion Enterprise with a more modern, automated system, making it easier to consolidate data from the 28 separate legal entities and submit more timely, accurate financial reports to Tokyo each month.

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