Eisai Slashes Leqembi Sales Forecast Amid Continued Launch Challenges

Revised Sales Forecast:
Eisai has lowered its annual sales forecast for Leqembi to approximately $280 million (JPY 42.5 billion) for the fiscal year 2024, down from the previous estimate of around $370 million (JPY 56.5 billion)25.

Launch Challenges:
The drug's launch has been more challenging than anticipated, with barriers such as coverage, infusion centers, and time to diagnosis affecting its uptake2.

Market Performance:
Despite these challenges, Leqembi generated $67 million in revenue in Q3, exceeding the $50 million consensus estimate. However, overall sales remain underwhelming2.

Long-term Projections:
Eisai still projects Leqembi to reach $8.8 billion in sales by fiscal year 2032, with an expected increase in eligible patients to 3.32 million4.

Strategic Moves:
To boost sales, Eisai aims to increase its neurology field force by about 30% and is working on an injectable form of Leqembi, which could be approved by mid-2025 if granted priority review by the FDA12.

Sources:

1. https://www.biopharmadive.com/news/eisai-leqembi-alzheimers-drug-revenue-subcutaneous-filing/716205/

2. https://www.biospace.com/business/eisai-cuts-fiscal-2024-guidance-for-biogen-partnered-leqembi-as-sales-disappoint-analysts

4. https://www.fiercepharma.com/pharma/eisai-leqembi-outlook-sumitomo-downsizing-kyowa-kirin-expansion

5. https://www.stocktitan.net/news/BIOA/eisai-updates-leqembi-outlook-for-fiscal-year-2024-april-2024-march-tjvqwdj0u7tb.html