Eisai bumps up full-year outlook

Headline results for the first quarter:

  • Revenue: JPY 198.9 billion ($1.8 billion), up 20.1%
  • Profit: JPY 42.2 billion ($387 million), up 72.6%

Note: All changes are versus the prior-year period unless otherwise stated

What the company said:

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.

Other results:

  • Oncology sales: JPY 56.1 billion ($514 million), up 17.6%
    • Lenvima/Kisplyx: JPY 44.2 billion ($404 million), up 27.4%
    • Halaven: JPY 10.2 billion ($93 million), up 8.5%
  • Neurology sales: JPY 34.1 billion ($312 million), down 22.2%
    • Fycompa: JPY 7.4 billion ($68 million), up 16%
    • Aricept: JPY 6.3 billion ($58 million), down 18.8%

Looking ahead:

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).

Pipeline updates:

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).

To read more Top Story articles, click here.