Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eisai-co-ltd" target="_blank" data-smartkarma-citation="entities:21001:1" rel="noopener">Eisai Co Ltd (4523 JP)</a> reported record high revenue and triple-digit growth in core operating profit in FY26. However, operating and net profits missed guidance due to one-off factors.</li>
<li>Through achieving profitability in the Leqembi business and improving efficiency on cost structure, Eisai aims to drive a substantial increase in core operating profit, representing organic business growth in FY27.</li>
<li>With SC-AI and BBM in place, Eisai believes that Leqembi is entering a true expansion phase. Leqembi revenue is expected to grow 63% YoY to ¥144B (~$900M) in FY27.</li>
</ul>



Eisai Co Ltd (4523 JP) reported record high revenue and triple-digit growth in core operating profit in FY26. However, operating and net profits missed guidance due to one-off factors.
Through achieving profitability in the Leqembi business and improving efficiency on cost structure, Eisai aims to drive a substantial increase in core operating profit, representing organic business growth in FY27.
With SC-AI and BBM in place, Eisai believes that Leqembi is entering a true expansion phase. Leqembi revenue is expected to grow 63% YoY to ¥144B (~$900M) in FY27.


Eisai Co Ltd (4523 JP): Mixed Result for FY26; FY27 Guidance Indicates Profitability Improvement

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

Victory Giant Technology (HuiZhou) / Equity Capital Markets

Victory Giant Technology (HuiZhou) (2476 HK)

<ul>
<li>Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,400+ insights published on Smartkarma.</li>
<li>In this cut, we evaluate the supply-side risks to agri-commodities, sift through a flurry of China hard-tech IPOs, and unpack Sumitomo Pharma's massive share placement. </li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.</li>
</ul>


Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,400+ insights published on Smartkarma.
In this cut, we evaluate the supply-side risks to agri-commodities, sift through a flurry of China hard-tech IPOs, and unpack Sumitomo Pharma's massive share placement. 
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.


Curator's Cut: Soft Commodities' Hard Truths, Pricing China's Hi-Tech & Sumitomo Pharma's Placement

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eisai-co-ltd" target="_blank" data-smartkarma-citation="entities:21001:1" rel="noopener">Eisai Co Ltd (4523 JP)</a> has reported better-than-expected result for 9MFY26. Revenue increased 3% YoY to ¥620B, driven by strong performance of the key drugs.</li>
<li>9MFY26 revenue, operating profit, and net profit represent progress rate of 79%, 100%, and 101% against full-year FY26 forecast. However, the company reiterated FY26 forecast.</li>
<li>Indication and geography expansion of key drugs along with Eisai’s recent initiatives to enhance its pipeline and expand its oncology franchise should position the company for long-term growth.  </li>
</ul>



Eisai Co Ltd (4523 JP) has reported better-than-expected result for 9MFY26. Revenue increased 3% YoY to ¥620B, driven by strong performance of the key drugs.
9MFY26 revenue, operating profit, and net profit represent progress rate of 79%, 100%, and 101% against full-year FY26 forecast. However, the company reiterated FY26 forecast.
Indication and geography expansion of key drugs along with Eisai’s recent initiatives to enhance its pipeline and expand its oncology franchise should position the company for long-term growth.  


Eisai Co Ltd (4523 JP): Key Drugs Drive Solid 9M Performance; FY Guidance Reaffirmed

Thematic (Sector/Industry)

<ul>
<li>Shanghai Henlius Biotech announced that PMDA of Japan approved phase 2/3 clinical trial of HLX43 for injection (an anti-PD-L1 antibody-drug conjugate) for advanced squamous non-small cell lung cancer (NSCLC).</li>
<li>Simcere Pharmaceutical announced that, SIM0613 for Injection, an antibody-drug conjugate, received the clinical trial approval in China, and is intended for commencing the clinical trial for advanced solid tumors.</li>
<li>Olympus has signed an exclusive global distribution agreement with EndoRobotics. Under this agreement, robot-assisted technologies manufactured by EndoRobotics will be distributed globally by Olympus exclusively.</li>
</ul>


Shanghai Henlius Biotech announced that PMDA of Japan approved phase 2/3 clinical trial of HLX43 for injection (an anti-PD-L1 antibody-drug conjugate) for advanced squamous non-small cell lung cancer (NSCLC).
Simcere Pharmaceutical announced that, SIM0613 for Injection, an antibody-drug conjugate, received the clinical trial approval in China, and is intended for commencing the clinical trial for advanced solid tumors.
Olympus has signed an exclusive global distribution agreement with EndoRobotics. Under this agreement, robot-assisted technologies manufactured by EndoRobotics will be distributed globally by Olympus exclusively.


APAC Healthcare Weekly (May 10) – Henlius Bio, Simcere, Olympus, Daewoong Pharma

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<li>NMPA accepted Simcere’s resubmitted NDA for Rademikibart for the treatment of atopic dermatitis. FDA has granted Priority Review to Beigene’s indication expansion application for Tevimra in first-line gastroesophageal adenocarcinoma.</li>
<li>FDA has accepted Taiho Pharmaceutical’s NDA for NSCLC drug candidate zipalertinib. Kyowa Kirin and Kura Oncology initiated Japanese Phase 2 registrational clinical trial studying ziftomenib, for acute myeloid leukemia.</li>
<li>Sun Pharmaceutical is acquiring Organon for $14 per share in an all‑cash transaction with an enterprise valuation of $12B. The transaction is expected to close in early 2027.</li>
</ul>


NMPA accepted Simcere’s resubmitted NDA for Rademikibart for the treatment of atopic dermatitis. FDA has granted Priority Review to Beigene’s indication expansion application for Tevimra in first-line gastroesophageal adenocarcinoma.
FDA has accepted Taiho Pharmaceutical’s NDA for NSCLC drug candidate zipalertinib. Kyowa Kirin and Kura Oncology initiated Japanese Phase 2 registrational clinical trial studying ziftomenib, for acute myeloid leukemia.
Sun Pharmaceutical is acquiring Organon for $14 per share in an all‑cash transaction with an enterprise valuation of $12B. The transaction is expected to close in early 2027.


APAC Healthcare Weekly (May 3) – Simcere, Beigene, Otsuka, Kyowa Kirin, Sun Pharma

Japan

Eisai Co., Ltd. produces prescription drugs and medical equipment and sells mainly to sales agents and subsidiaries.  Through its subsidiary, Sanko Junyaku, the Company produces and sells diagnostic drugs.  Eisai also markets its products through related companies in the US, Europe, and Asia.  The Company also manufactures and sells foods, livestock feeds, chemical, and agrochemicals.

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Eisai Co Ltd (4523 JP)