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> shares advanced ~30% from June lows. Stronger-than-expected Q1FY27 financial result and value maximization initiatives of Leqembi are mainly driving the shares. </li>
<li>Eisai has reported better-than-anticipated Q1FY27 result, with revenue and operating profit reaching 27% and 35% of FY27 full-year forecast, driven by the strong performance 3L major products and favorable Fx.</li>
<li>In near-term, Eisai’s growth will be Leqembi centered. For FY27, Eisai has guided for Leqembi revenue of ¥144B (up 64% YoY), supported by Leqembi Iqlik and blood-based biomarker (BBM).</li>
</ul>



Eisai Co Ltd (4523 JP) shares advanced ~30% from June lows. Stronger-than-expected Q1FY27 financial result and value maximization initiatives of Leqembi are mainly driving the shares. 
Eisai has reported better-than-anticipated Q1FY27 result, with revenue and operating profit reaching 27% and 35% of FY27 full-year forecast, driven by the strong performance 3L major products and favorable Fx.
In near-term, Eisai’s growth will be Leqembi centered. For FY27, Eisai has guided for Leqembi revenue of ¥144B (up 64% YoY), supported by Leqembi Iqlik and blood-based biomarker (BBM).


Eisai Co Ltd (4523 JP): Driving Forces Behind Steady Rebound from Lows

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<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 received FDA approval for a once-weekly Leqembi subcutaneous autoinjector (branded as Leqembi Iqlik) as an initiation dose for the treatment of early Alzheimer’s disease.</li>
<li>With the latest approval, throughout the entire treatment course - from initiation through maintenance - patients may receive Leqembi either as IV infusion or as SC injection with Leqembi Iqlik.</li>
<li>This approval will further sharpen Leqembi’s competitive edge over Kinsunla. Eisai guided for FY27 Leqembi revenue of ¥144B (~$900M), up 63% YoY. Leqembi is expected to become blockbuster by FY29.</li>
</ul>



Eisai Co Ltd (4523 JP) has received FDA approval for a once-weekly Leqembi subcutaneous autoinjector (branded as Leqembi Iqlik) as an initiation dose for the treatment of early Alzheimer’s disease.
With the latest approval, throughout the entire treatment course - from initiation through maintenance - patients may receive Leqembi either as IV infusion or as SC injection with Leqembi Iqlik.
This approval will further sharpen Leqembi’s competitive edge over Kinsunla. Eisai guided for FY27 Leqembi revenue of ¥144B (~$900M), up 63% YoY. Leqembi is expected to become blockbuster by FY29.


Eisai Co Ltd (4523 JP): Leqembi Subcutaneous Injection Approved as Starter Dose for Alzheimer’s

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

Thematic (Sector/Industry)

<ul>
<li>Sino Biopharmaceutical’s NDA for bispecific ADC, TQB2102, has been accepted by NMPA for breast cancer. CHMP recommended approval of Impact Therapeutics’ Sepalna for epithelial ovarian, fallopian tube, and peritoneal cancers.</li>
<li>FDA granted priority review to Takeda’s zasocitinib for moderate-to-severe plaque psoriasis. Daiichi Sankyo announced positive results from the Phase 3 trial evaluating Enhertu as a first-line treatment of NSCLC.</li>
<li>SK Biopharmaceuticals has signed a license and equity investment agreement with 1ST Biotherapeutics to secure global exclusive development and commercialization rights for a new drug candidate for Parkinson's disease.</li>
</ul>


Sino Biopharmaceutical’s NDA for bispecific ADC, TQB2102, has been accepted by NMPA for breast cancer. CHMP recommended approval of Impact Therapeutics’ Sepalna for epithelial ovarian, fallopian tube, and peritoneal cancers.
FDA granted priority review to Takeda’s zasocitinib for moderate-to-severe plaque psoriasis. Daiichi Sankyo announced positive results from the Phase 3 trial evaluating Enhertu as a first-line treatment of NSCLC.
SK Biopharmaceuticals has signed a license and equity investment agreement with 1ST Biotherapeutics to secure global exclusive development and commercialization rights for a new drug candidate for Parkinson's disease.


APAC Healthcare Weekly (Sept 20) –Sino Bio, Impact Therapeutics, Takeda, Daiichi Sankyo, SK Biopharm

<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

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)