Eisai's Leqembi Shows Steady Growth in Alzheimer's Market, Company Eyes Expansion

Eisai's Alzheimer's treatment Leqembi continues to make strides in the pharmaceutical market, with the company reporting steady growth and anticipating a potential "expansion phase" for the drug. Despite slower-than-expected sales in the United States, Eisai remains optimistic about Leqembi's future, citing recent developments in diagnostics and dosing that could fuel increased adoption.

Global Sales Performance and Market Penetration

Leqembi, an antibody targeting Alzheimer's disease, generated approximately 13.3 billion Japanese yen ($87 million) in the third quarter of Eisai's 2024 fiscal year. In the U.S., sales grew by about 30% quarter-over-quarter, reaching 7.7 billion yen ($51 million). The drug has shown stronger performance in other markets, with Japan and China experiencing quarterly sales growth of nearly 50% and 33%, respectively.

Cumulatively, Leqembi has brought in total sales of 29.6 billion yen ($194 million) over the past nine months, putting it on track to meet Eisai's 12-month sales target of 42.5 billion yen ($279 million). The company reports that Leqembi has now reached 13,500 patients in the U.S., with more than 3,000 prescribers and 1,200 medical institutions purchasing the drug.

Advancements in Diagnostics and Dosing

Eisai is banking on several developments to drive Leqembi's growth. The company anticipates that regulators will soon allow blood-based biomarkers as confirmatory tests for amyloid beta, potentially streamlining the diagnostic process. This expectation is supported by a 45% increase in amyloid beta PET testing observed in the last quarter of 2024.

Additionally, Eisai recently secured FDA approval for a less burdensome IV maintenance dosing schedule, allowing for administration every four weeks instead of biweekly. This new dosing regimen is expected to improve treatment adherence and potentially attract new patients.

Strategic Initiatives and Market Positioning

Eisai is emphasizing Leqembi's unique dual-action profile, which targets both amyloid plaque and protofibrils, as a differentiator from competitors like Eli Lilly's Kisunla. The company is also planning to enhance its educational efforts for primary care physicians to improve patient referrals and identification of eligible candidates for treatment.

Despite facing competition, Eisai remains confident in Leqembi's market position. Katsuya Haruna, senior group officer and EVP of Eisai's U.S. business operations, stated, "In terms of market share perspective, we don't expect [Leqembi] to lose unit share from the competitors."

As Eisai continues to invest in Leqembi's growth, the company's overall performance remains strong, with net sales of 601.2 billion yen ($4 billion) reported for the last nine months of 2024, representing a 9% year-on-year increase. Eisai aims to achieve net sales of approximately 754 billion yen ($5 billion) for the full fiscal year ending March 31, 2025.