Note: All changes are versus the prior-year period unless otherwise stated
Eisai noted that revenue in the first quarter "increased significantly" due to the growth of products including Lenvima/Kisplyx, Halaven and Fycompa, as well as an upfront payment of JPY 49.6 billion ($454 million) from Bristol Myers Squibb as part of an agreement to develop the antibody-drug conjugate MORAb-202.
For fiscal year 2021, Eisai now expects revenues to rise 8.5% to JPY 701 billion ($6.4 billion), up from an earlier prediction of JPY 681 billion ($6.2 billion). Meanwhile, profit for the year is projected to increase 38.9% to JPY 59 billion ($540 million), lifted from a prior estimate of JPY 45 billion ($412 million).
Eisai disclosed that a Phase I/II study of MORAb-009, also known as amatuximab, for mesothelioma in the US and Europe has been finished and therefore removed from its updated pipeline. The monoclonal antibody is designed to trigger antibody-dependent cellular cytotoxicity against tumour cells expressing mesothelin.
Eisai also said that "we have initiated communication with the FDA to seek the most optimal regulatory pathway" for lecanemab, an experimental anti-amyloid beta protofibril antibody being co-developed with Biogen to treat Alzheimer's disease. The drug, also known as BAN2401, was recently granted breakthrough therapy status, just weeks after Eisai and Biogen won a controversial FDA accelerated approval for the amyloid beta-directed antibody Aduhelm (aducanumab).
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