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Eisai fiscal Q1 profit falls 50.3% YOY; full-year forecast unchanged

Eisai Co. Ltd. saw a decrease in its first fiscal quarter consolidated earnings and affirmed its full-year guidance.

Profit attributable to shareholders for the three months ended June 30 was ¥9.81 billion, or ¥34.24 per share, down 50.3% from ¥19.74 billion, or ¥68.92 per share, a year earlier.

The Tokyo-based company maintained its forecast for the fiscal year ending March 31, 2018, anticipating a 6.8% increase in revenue to ¥575.50 billion and a 1.1% growth in profit attributable to shareholders to ¥39.80 billion, or ¥139.17 per share.

Revenue for the April-June period reached ¥141.86 billion, up 3.6% year over year.

The company's combined revenue from its four global brands grew 23.1% year on year to ¥21.15 billion, including ¥9.70 billion from Halaven, ¥7.26 billion from Lenvima, ¥3.22 billion from Fycompa and ¥960 million from Belviq. Arthritis drug Humira also booked a 19% year-over-year growth in sales to ¥11.15 billion.

Operating profit during the three-month period fell 41.4% year over year to ¥15.13 million due to research and development investment in Alzheimer's disease and oncology projects and one-off income following the acquisition of EA Pharma Co. Ltd. shares in the same period last year.

Eisai's research and development expenses for the first quarter reached ¥33.20 billion, up from ¥27.30 billion in the same period last year.

As of Aug. 1, US$1 was equivalent to ¥110.15.