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EISAI CO., LTD.

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Eisai : drug for Alzheimer's with Biogen gets breakthrough status in U.S.

06/23/2021 | 05:00pm EDT

June 23 (Reuters) - Japanese company Eisai Co and partner Biogen Inc said on Wednesday the U.S. Food and Drug Administration had granted breakthrough therapy designation to their experimental therapy, lecanemab, for patients with early Alzheimer's.

The drug works in a similar manner to Biogen's Aduhelm, which was approved earlier this month. It removes sticky deposits of a protein called amyloid beta from the brains of patients in the earlier stages of Alzheimer's in order to stave off its impact, including memory loss and the inability to take care of oneself.

Eisai completed enrollment in March in a pivotal 18-month study of lecanemab in symptomatic early Alzheimer's patients.

Lecanemab is also being studied in a large trial on people with evidence of amyloid in their brains, who do not yet have symptoms of the disease.

The FDA grants breakthrough therapy designation in order to expedite the development and review of medicines for serious or life-threatening conditions.

(Reporting by Dania Nadeem in Bengaluru; Editing by Vinay Dwivedi)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BIOGEN INC. 2.01% 331.93 Delayed Quote.32.89%
EISAI CO., LTD. 3.45% 9456 End-of-day quote.28.27%
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Financials
Sales 2022 700 B 6 354 M 6 354 M
Net income 2022 59 105 M 537 M 537 M
Net cash 2022 147 B 1 334 M 1 334 M
P/E ratio 2022 45,8x
Yield 2022 1,71%
Capitalization 2 657 B 24 087 M 24 127 M
EV / Sales 2022 3,59x
EV / Sales 2023 3,40x
Nbr of Employees 11 237
Free-Float 87,5%
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 9 456,00 JPY
Average target price 12 439,23 JPY
Spread / Average Target 31,5%
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Managers and Directors
Haruo Naito Chief Executive Officer & Representative Director
Ryohei Yanagi Chief Financial Officer
Yasuhiko Katoh Chairman
Edward Stewart Geary Chief Medical Officer & Managing Executive Officer
Lynn D. Kramer Chief Medical & Chief Clinical Officer-Neurology
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