Eisai Co., Ltd. · TSE:4523
Eisai — Q2 2027 Earnings Presentation
33 slides from Eisai's earnings presentation, Nov 10, 2026
Slide 1: Q2 FY2026 Financial Results and Business Update
Q2 FY2026 (Fiscal Year Ending March 31, 2027) Financial Results and Business Update Eisai Co., Ltd. November 10, 2026
Slide 2: Q2 FY2026 Financial Highlights
Q2 FY2026 Financial Highlights Revenue ◼ 470.0 billion yen +17.5% YoY ◼ Achieved double-digit revenue growth, driven by the strong performance of the Pharmaceutical business (organic business) Operating profit/ Core operating profit ◼ Operating profit / Core operating profit: 41.4 billion yen +20.4%
Slide 3: Q2 FY2026 Consolidated Statement of Income (IFRS)
Q2 FY2026 Consolidated Statement of Income (IFRS) ◼ Revenue was 470.0 billion yen, achieving 17.5% YoY growth ◼ Driven by strong growth in the Pharmaceutical business, operating profit increased by 20.4% YoY, and core operating profit increased by 28.6% YoY FY2025 FY2026 Change FY2026 （Billions of y
Slide 4: Analysis of Revenue Increase/Decrease
Analysis of Revenue Increase/Decrease ◼ Revenue increased by 69.9 billion yen, driven by growth of the 3L* products ◼ Pharmaceutical business revenue increased by 17.5% YoY to 462.1 billion yen Revenue +69.9 billion yen (+17.5%) +1.2 470.0 4,750 4,700 +9.7 4,650 4,600 +59.1 Revenue from Other busine
Slide 5: Analysis of Operating Profit Increase/Decrease
Analysis of Operating Profit Increase/Decrease ◼ Robust growth of the 3L*1 products led to substantial growth in operating profit and core operating profit 1000 Operating profit +7.0 billion yen (+20.4%) 900 +53.5 -12.6 800 -31.2 700 R&D expenses 41.4 600 • Continued proactive 34.4 investment in key
Slide 6: LENVIMA: Approved for Five Tumor Types, Leading Global TKI Brand
Approved for Five Tumor Types*1, Maintaining Leading Global TKI*2 Brand Status*3 Anticancer agent: Contributed to the treatment of approx. 650,000 patients in 83 countries and In-house developed oral multi-kinase inhibitor with 8 indications across 5 cancer types. Expanded territories over the 11 ye
Slide 7: Building on Leading Share in 1L aRCC
Building on Leading Share in 1L*1 advanced Renal Cell Carcinoma (aRCC), (LENVIMA plus KEYTRUDA*2 Combination) New Post-IO*3 Treatment Option is Further Reinforcing its Position as Backbone Therapy in aRCC ➢aRCC 1L (LENVIMA plus KEYTRUDA*2): ➢aRCC following IO therapy (WELIREG plus Continues to be th
Slide 8: DAYVIGO: Global Leading Brand in DORA
DAYVIGO: Established Position as *1 Global Leading Brand in DORA Insomnia treatment: Approved for the treatment of An orexin receptor antagonist developed from an in-house drug discovery platform insomnia in 29 countries and territories, targeting the orexin pathway, which is involved in the regulat
Slide 9: LEQEMBI: Robust Growth Continues Globally
LEQEMBI: Robust Growth Continues Globally An anti-Aβ antibody which reduces the rate of disease progression and slows the decline Approved in 53 countries and territories in cognitive function and activities of daily living in adults with AD through the clearance of including Japan, U.S., China, EU
Slide 10: Fundamental Value of LEQEMBI
Fundamental Value of LEQEMBI LEQEMBI reduces the rate of progression of AD through the clearance of Aβ protofibrils and Aβ plaques from the brain, which are among the underlying pathologies of this progressive neurodegenerative disease. • Clinical efficacy, including benefits associated with early t
Slide 11: Potential Value Provided by LEQEMBI Subcutaneous Formulation
Potential Value Provided by LEQEMBI Subcutaneous Formulation (SC-AI*1) • Approx injection time of 15 seconds per injection, once weekly Patient and family （use two autoinjectors per administration*2） 1 involvement in treatment / Freedom from IV infusions • Enables self-administration or administrati
Slide 12: Increased Treatment Options Responsive to Individual Patient Needs
Increased Treatment Options Responsive to Individual Patient Needs Dosing options can be selected to meet patient needs (U.S.) Initiation treatment Maintenance treatment IV*1: Every 2 weeks IV: Every 4 weeks The route of The route of administration After administration 18 months can be switched can
Slide 13: Faster Market Uptake Than Previous AAT Launches
Faster Market Uptake Than Previous AAT*1 Launches (LEQEMBI IQLIK*2 Initiation Treatment in the U.S.) Rapid growth in the number of treated patients is observed Rapid growth in the number of prescribers is observed • Approx. 4 x growth compared to LEQEMBI IV*3 launch • Approx. 6 x growth compared to
Slide 14: Growth of LEQEMBI Sales and Prescriber Base (U.S.)
Recognition of the Value of Maintenance Treatment and Optionality of Formulation from the Beginning of Treatment Drives Growth of LEQEMBI Sales and Prescriber Base (U.S.) 1. LEQEMBI Net Sales*1 2. LEQEMBI Prescriber Count*4 (People) 6,000 (Million USD) 120.0 LEQEMBI IV Marking 6th consecutive quarte
Slide 15: LEQEMBI Leads New Patient Market in AAT
LEQEMBI Leads New Patient Market in AAT*1 Driven by Expansion in Optionality with IQLIK Initiation Treatment*2 and Growing Adoption of Maintenance Treatment (U.S.) 1. AAT new patient volume*3 (People) 30,000 Total anti-amyloid treated patient IQLIK initiation treatment launch is driving IQLIK initia
Slide 16: LEQEMBI IQLIK Progress Toward Medicare Part D Formulary Inclusion
LEQEMBI IQLIK*1 Progress Toward Inclusion*2 in Medicare Part D Formulary Steady progress toward coverage starting in January 2027 (U.S.) • New U.S. Pharmacopeia category for AD disease-modifying therapies established, with IQLIK included, creating a foundation for Medicare Part D formulary developme
Slide 17: LEQEMBI Subcutaneous 250 mg Pen (Japan)
LEQEMBI Subcutaneous 250 mg Pen*1 (Japan): Approved on September 16; NHI*2 price listing and launch scheduled for November 13 Aiming to expand treatment opportunities for patients and medical institutions where treatment initiation has previously been difficult, by leveraging the value of the Pen Fo
Slide 18: Potential Indication Expansion to Preclinical AD
Next-generation Drug Development across AD Continuum: Pursuing Forefront of Clinical Development in LEQEMBI, Treatment for Preclinical AD Aiming to create new therapeutic value through earlier intervention in Aβ pathology Potential indication expansion to Preclinical AD ◼ AHEAD3-45*1 (Preclinical AD
Slide 19: Etalanetug: Anti-MTBR-tau Antibody
Next-generation Drug Development across AD continuum: Pursuing Forefront of Drug Discovery in Etalanetug, Tau-Targeting Treatment One of the most advanced anti-Tau programs under development Etalanetug: Anti-MTBR*1-tau antibody ◼ Study 202*2｜Sporadic early AD, Phase II ◼ Tau NexGen Trial*4｜Phase II/
Slide 20: Ledasorexton, Orexin 2 Receptor Agonist
Orexin pathway platform Ledasorexton, Orexin 2 Receptor Agonist Validate new therapeutic value in narcolepsy (NT1/ NT2*1) • Proprietary chemical structure created on Phase II study (Study 202)*6 single hit compound • Population / sample size: NT1 and NT2; • Among in-house compound library, a single
Slide 21: Conclusion
Conclusion In the 1H, growth across 3L products drove organic business performance ahead of plan. In the 2H, we will continue our efforts to achieve the FY2026 full-year forecast by steadily advancing our business operations, and maintaining strict “budget vs. actual spending” management. The market
Slide 22: Reference Data
Reference Data
Slide 23: Consolidated Statement of Income
Consolidated Statement of Income FY2025 FY2026 April-September April-September Full year Ratio (%) Ratio (%) YOY(%) Diff. Ratio (%) Prog. (%) (billions of yen, %) Results Results forecast Revenue 400.0 100.0 470.0 100.0 17.5 69.9 883.5 100.0 53.2 Pharmaceutical Business 393.3 98.3 462.1 98.3 17.5 68
Slide 24: Segment Revenue
Segment Revenue FY2025 FY2026 April-September April-September Full year Share (%) Share (%) YOY (%) Prog. (%) (billions of yen, %) Results Results forecast Pharmaceutical Business Total 393.3 98.3 462.1 98.3 17.5 870.0 53.1 Japan pharmaceutical business 112.5 28.1 116.7 24.8 3.7 233.5 50.0 Americas
Slide 25: Segment Profit
Segment Profit FY2025 FY2026 April-September April-September Share (%) Share(%) % of revenue YOY (%) (billions of yen, %) Results Results Pharmaceutical Business Total 108.7 97.2 140.2 98.2 30.3 29.0 Japan pharmaceutical business 33.6 30.0 36.6 25.6 31.3 8.9 Americas pharmaceutical business 29.9 26.
Slide 26: Revenue from Major Products
Revenue from Major Products FY2025 FY2026 April-September April-September Share (%) Share (%) YOY (%) Full year forecast Prog. (%) (billions of yen, %, ＜＞CER YOY) Results Results Major Products (3L) 236.8 100.0 295.8 100.0 24.9 562.0 52.6 <15.4> Lenvima/Kisplyx 166.5 100.0 194.8 100.0 17.0 345.0 56.
Slide 27: Performance of Japan Pharmaceutical Business
Performance of Japan Pharmaceutical Business FY2025 FY2026 April-September April-September Full year Share (%) Share (%) YOY (%) Prog. (%) (billions of yen, %) Results Results forecast Revenue 112.5 100.0 116.7 100.0 3.7 233.5 50.0 Japan pharmaceutical business 101.1 89.8 105.6 90.5 4.5 211.0 50.0 O
Slide 28: Performance of Americas Pharmaceutical Business
Performance of Americas Pharmaceutical Business FY2025 FY2026 April-September April-September Share (%) Share (%) YOY (%) Full year forecast Prog. (%) (billions of yen, %, ＜＞CER YOY) Results Results Revenue 141.7 100.0 179.2 100.0 26.5 337.0 53.2 <16.0> United States 137.5 97.1 173.0 96.5 25.8 324.0
Slide 29: Performance of China Pharmaceutical Business
Performance of China Pharmaceutical Business FY2025 FY2026 April-September April-September Share (%) Share (%) YOY (%) Full year forecast Prog. (%) (billions of yen, %, ＜＞CER YOY) Results Results Revenue 66.2 100.0 82.6 100.0 24.7 147.0 56.2 <7.8> Segment profit 26.3 39.6 32.9 39.8 25.1 － － <9.4> Ch
Slide 30: Performance of EMEA Pharmaceutical Business
Performance of EMEA Pharmaceutical Business FY2025 FY2026 April-September April-September Share (%) Share (%) YOY (%) Full year forecast Prog. (%) (billions of yen, %, ＜＞CER YOY) Results Results Revenue 38.8 100.0 43.7 100.0 12.6 73.0 59.8 <1.7> Segment profit 6.4 16.4 10.1 23.1 59.0 － － <61.2> EMEA
Slide 31: Performance of East Asia Global South Pharmaceutical Business
Performance of East Asia Global South Pharmaceutical Business FY2025 FY2026 April-September April-September Share (%) Share (%) YOY (%) Full year forecast Prog. (%) (billions of yen, %, ＜＞CER YOY) Results Results Revenue 34.1 100.0 39.9 100.0 17.0 79.5 50.1 <10.0> Segment profit 12.5 36.8 14.1 35.4
Slide 32: Pipeline and key events
Pipeline and key events Neurodegeneration ATN*1 Continuum Target Indication Development Stage Key Events Approval for initiation treatment: 53 countries and Early AD territories Global submission/approval (IV initiation/ maintenance) Approval for maintenance treatment: 9 countries and territories A
Slide 33: Safe Harbor Statement
Safe Harbor Statement ◼ Forecast or target figures in this material are not official earnings guidance but represent midterm strategies, goals, and visions. Official earnings guidance should be referred to in the disclosure of the annual financial report (Consolidated Financial Statement) in accorda