Eisai Co., Ltd (TYO: 4523), a prominent Japanese pharmaceutical company, has released its financial results for the three-month first quarter of the fiscal year 2024, concluded on June 30, 2024. The company reported a slight decline of 4% in total revenues year-on-year (YOY), amounting to JPY 189 billion (USD 1.26 billion). Despite this, the actual pharmaceutical business revenues showed a positive trend, increasing by 3% YOY to JPY 186.6 billion (USD 1.25 billion).
The financial report highlights a particularly strong performance for the Alzheimer’s disease therapy Leqembi (lecanemab), which saw its sales more than double, reaching JPY 6.3 billion (USD 42 million) YOY. Leqembi, first approved in the US in July 2023, has also gained approval in Japan and China, with the European approval still pending. Eisai is in a global development partnership with Biogen Inc. for Leqembi, leading its development and regulatory submissions, while both companies co-commercialize and co-promote the product.
Eisai’s other significant revenue drivers include the cancer therapy Lenvima (lenvatinib), with sales reaching JPY 83.5 billion (USD 557.5 million), marking an 18% YOY increase, and the insomnia therapy Dayvigo (lemborexant), which showed a robust 29% YOY growth in sales to JPY 12.1 billion (USD 80.8 million). However, the report indicates that the company’s performance in its home market of Japan and in China lagged behind other competitive markets, as detailed in the accompanying financial tables.- Flcube.com
