Japan · Delayed Price · Currency is JPY Eisai Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY2025 saw 3.1% revenue growth to JPY 619.9B, driven by strong organic sales of LENVIMA, DAYVIGO, and LEQEMBI. Operating profit fell due to fewer one-time gains, but organic profit doubled. Oncology pipeline expanded with two in-licensing deals, and full-year guidance is maintained.
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Revenue and operating profit grew strongly in the first half, led by LEQEMBI's 153% year-over-year growth and robust performance in the pharmaceutical segment. Full-year guidance remains unchanged, with confidence in achieving targets despite ongoing investments and market uncertainties.
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Real-world ARIA incidence for Lacanbi is lower than in trials, with a conservative China sales outlook and ongoing preclinical studies using sensitive endpoints and multiple biomarkers.
Fiscal Year 2025
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The meeting highlighted a patient-centric, long-term strategy integrating social impact, innovation, and sustainability, with significant progress in dementia and oncology, enhanced R&D through AI, and targeted human capital initiatives. The Future Creation Strategy aims to ensure corporate value and societal contribution over 30 years.
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E2086, a selective orexin receptor 2 agonist, showed significant efficacy and good tolerability in a phase I-B trial for narcolepsy type 1, with once-daily dosing outperforming modafinil and supporting strong patient adherence. Phase II studies, including NT2, are planned, with global partnerships and expanded indications under consideration.
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Revenue and profit grew in FY2024, led by Leqembi and Lenvima, with Leqembi achieving global approvals and exceeding revenue forecasts. Cost controls and structural reforms improved margins, and further growth is expected as the U.S. enters the demand expansion phase for Leqembi.
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Mid- and long-term growth is anchored by LEQEMBI and Lenvima, with FY 2027 as a key milestone for profitability and operational efficiency. Pipeline innovation, pathway streamlining, and ecosystem partnerships are central to expanding access and value in neurology and oncology.
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Q3 FY2024 delivered 9% revenue growth and double-digit profit gains, led by Leqembi and Lenvima. Leqembi's global expansion, new dosing options, and cost efficiencies support a strong outlook, while Lenvima's growth is expected to offset US policy impacts.
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Q2 FY2024 saw 3% revenue growth, led by strong pharmaceutical and oncology performance, but U.S. Leqembi sales were delayed by infusion capacity limits. Expansion of infusion centers, new SCAI formulation, and BBM diagnostics are set to drive future growth, with profitability expected globally by FY2026.
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Revenue and profit for Q1 FY2024 were in line with plan, driven by strong growth in LENVIMA, DAYVIGO, and LEQEMBI, despite lower year-over-year totals due to prior one-time income. LEQEMBI saw rapid global expansion, with regulatory progress and robust long-term data supporting its position as a first-line therapy.