Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Eisai Co., Ltd. produces prescription drugs and medical equipment and sells mainly to sales agents and subsidiaries.  Through its subsidiary, Sanko Junyaku, the Company produces and sells diagnostic drugs.  Eisai also markets its products through related companies in the US, Europe, and Asia.  The Company also manufactures and sells foods, livestock feeds, chemical, and agrochemicals.

<ul>
<li>On July 2, <a href="https://www.smartkarma.com/entities/eli-lilly-co" target="_blank" data-smartkarma-citation="entities:19419:1" rel="noopener">Eli Lilly &amp; Co (LLY US)</a> has received FDA approval for its Alzheimer’s disease drug Kisunla, which will compete head-on-head with <a href="https://www.smartkarma.com/entities/eisai-co-ltd" target="_blank" data-smartkarma-citation="entities:21001:1" rel="noopener">Eisai Co Ltd (4523 JP)</a>'s Leqembi.  </li>
<li>Efficacy and indications of both the drugs are similar. Price comparison is tricky. However, Kisunla can be stopped when amyloid plaques are removed, which is not the case for Leqembi.</li>
<li>Eisai is not expected to face immediate competition and should comfortably meet Leqembi FY25 revenue target of ¥56.5B, including ¥43.5B from the U.S. Recently, Leqembi has been launched in China.</li>
</ul>


On July 2, Eli Lilly &amp; Co (LLY US) has received FDA approval for its Alzheimer’s disease drug Kisunla, which will compete head-on-head with Eisai Co Ltd (4523 JP)'s Leqembi.  
Efficacy and indications of both the drugs are similar. Price comparison is tricky. However, Kisunla can be stopped when amyloid plaques are removed, which is not the case for Leqembi.
Eisai is not expected to face immediate competition and should comfortably meet Leqembi FY25 revenue target of ¥56.5B, including ¥43.5B from the U.S. Recently, Leqembi has been launched in China.


Eisai Co Ltd (4523 JP): New Competition Is Coming for Alzheimer’s Disease Drug; No Immediate Threat

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Vanda Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of clinical-stage, small molecule product candidates for central nervous system disorders.

<ul><li>Vanda Pharmaceuticals Inc., in its Q1 2024 results, showcased a mixed performance amidst its transition phase collaborating its existing products along with recent acquisitions.</li><li>The financial results reveal a decline in total revenues by 24% year-over-year to $47.5 million, primarily due to the impact of generic competition on its product HETLIOZ.</li><li>Despite this, there was a slight sequential increase in total revenues from the previous quarter, suggesting some stabilization in their financial outcomes.</li></ul>

Vanda Pharmaceuticals Inc., in its Q1 2024 results, showcased a mixed performance amidst its transition phase collaborating its existing products along with recent acquisitions.The financial results reveal a decline in total revenues by 24% year-over-year to $47.5 million, primarily due to the impact of generic competition on its product HETLIOZ.Despite this, there was a slight sequential increase in total revenues from the previous quarter, suggesting some stabilization in their financial outcomes.

Vanda Pharmaceuticals: Can It Attract Acquisition Interest After Future Pak's Offer Withdrawal? - Major Drivers

Medpace Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides cardiovascular, hematology, oncology, neurology, pediatrics, nephrology, and diagnostic services. Medpace Holdings serves patients worldwide.

<ul><li>Medpace's financial results for the first quarter of 2023 highlight a mixed scenario, reflecting both the opportunities and challenges inherent in the clinical contract research organization (CRO) industry.</li><li>The company reported that revenues reached $511 million for the quarter, marking a significant 17.7% increase on a year-over year basis.</li><li>This positive trajectory can be attributed to healthy demand for Medpace’s clinical research services, as demonstrated by the growth in ending backlog which stood at approximately $2.9 billion—an increase of 18.2% compared to the previous year.</li></ul>

Medpace's financial results for the first quarter of 2023 highlight a mixed scenario, reflecting both the opportunities and challenges inherent in the clinical contract research organization (CRO) industry.The company reported that revenues reached $511 million for the quarter, marking a significant 17.7% increase on a year-over year basis.This positive trajectory can be attributed to healthy demand for Medpace’s clinical research services, as demonstrated by the growth in ending backlog which stood at approximately $2.9 billion—an increase of 18.2% compared to the previous year.

Medpace Holdings Inc.: Will The Improved Bookings Environment Last? - Major Drivers

Natera, Inc. operates as a diagnostics company. The Company provides preconception and prenatal genetic testing services. Natera also offers pre-implantation genetic diagnosis, aneuploidy screening, translocation, and single gene testing services.

<ul><li>Natera, Inc., during its Q1 2024 discussion, presented results that indicate robust financial and operational achievements alongside a renewed forward outlook reflecting the company's strong position in the genomic diagnostics market.</li><li>The company noted a significant increase in its revenue and volume growth across its diversified operational segments, which include oncology, organ health, and women's health.</li><li>Notably, Natera, Inc. achieved a major corporate milestone by reaching cash flow breakeven in Q1, significantly ahead of schedule.</li></ul>

Natera, Inc., during its Q1 2024 discussion, presented results that indicate robust financial and operational achievements alongside a renewed forward outlook reflecting the company's strong position in the genomic diagnostics market.The company noted a significant increase in its revenue and volume growth across its diversified operational segments, which include oncology, organ health, and women's health.Notably, Natera, Inc. achieved a major corporate milestone by reaching cash flow breakeven in Q1, significantly ahead of schedule.

Natera Inc.: Why We Are Neutral Despite These 5 Massive Growth Drivers! - Financial Forecasts

Neurocrine Biosciences / Equity Bottom-Up

Neurocrine Biosciences, Inc. is focused on the discovery and development of therapeutics for neuropsychiatric, neuroinflammatory, and neurodegenerative diseases and disorders.  The Company is developing therapeutic interventions for anxiety, depression, Alzheimer's disease, insomnia, stroke, malignant brain tumors, multiple sclerosis, obesity, and diabetes.

<ul><li>Neurocrine Biosciences recently concluded its quarterly update, focusing on its strategic progress and financial achievements.</li><li>One of the highlights is the significant year-over-year growth marked by the continued success of INGREZZA, its flagship product, which reported sales of $506 million for the quarter, reflecting over 20% annual growth.</li><li>This consistent growth trajectory, despite seasonal payer dynamics, underscores the effective management and robust demand for INGREZZA in treating conditions like tardive dyskinesia (TD) and Huntington's disease chorea.</li></ul>

Neurocrine Biosciences recently concluded its quarterly update, focusing on its strategic progress and financial achievements.One of the highlights is the significant year-over-year growth marked by the continued success of INGREZZA, its flagship product, which reported sales of $506 million for the quarter, reflecting over 20% annual growth.This consistent growth trajectory, despite seasonal payer dynamics, underscores the effective management and robust demand for INGREZZA in treating conditions like tardive dyskinesia (TD) and Huntington's disease chorea.

Neurocrine Biosciences Inc.: Can The Gene Therapy Innovations Be A Growth Catalyst? - Major Drivers

Health Care
Several billion reasons

Eisai Co Ltd (4523 JP): New Competition Is Coming for Alzheimer’s Disease Drug; No Immediate Threat

FDA approves Eli Lilly's Alzheimer's disease drug Kisunla. However, Eisai is not expected to face immediate competition and is expected to meet...

Tina Banerjee

Vanda Pharmaceuticals: Can It Attract Acquisition Interest After Future Pak's Offer Withdrawal? - Major Drivers

Vanda Pharmaceuticals Inc., in its Q1 2024 results, showcased a mixed performance amidst its transition phase collaborating its existing products...

Baptista Research

Medpace Holdings Inc.: Will The Improved Bookings Environment Last? - Major Drivers

Medpace's financial results for the first quarter of 2023 highlight a mixed scenario, reflecting both the opportunities and challenges inherent in...

Baptista Research

Natera Inc.: Why We Are Neutral Despite These 5 Massive Growth Drivers! - Financial Forecasts

Natera, Inc., during its Q1 2024 discussion, presented results that indicate robust financial and operational achievements alongside a renewed...

Baptista Research

Neurocrine Biosciences Inc.: Can The Gene Therapy Innovations Be A Growth Catalyst? - Major Drivers

Neurocrine Biosciences recently concluded its quarterly update, focusing on its strategic progress and financial achievements. One of the...

Baptista Research

Eisai Co Ltd (4523 JP): New Competition Is Coming for Alzheimer’s Disease Drug; No Immediate Threat

​FDA approves Eli Lilly's Alzheimer's disease drug Kisunla. However, Eisai is not expected to face immediate competition and is expected to meet...

Tina Banerjee

Vanda Pharmaceuticals: Can It Attract Acquisition Interest After Future Pak's Offer Withdrawal? - Major Drivers

Vanda Pharmaceuticals Inc., in its Q1 2024 results, showcased a mixed performance amidst its transition phase collaborating its existing products...

Baptista Research

Medpace Holdings Inc.: Will The Improved Bookings Environment Last? - Major Drivers

Medpace's financial results for the first quarter of 2023 highlight a mixed scenario, reflecting both the opportunities and challenges inherent in...

Baptista Research

Natera Inc.: Why We Are Neutral Despite These 5 Massive Growth Drivers! - Financial Forecasts

Natera, Inc., during its Q1 2024 discussion, presented results that indicate robust financial and operational achievements alongside a renewed...

Baptista Research

Neurocrine Biosciences Inc.: Can The Gene Therapy Innovations Be A Growth Catalyst? - Major Drivers

Neurocrine Biosciences recently concluded its quarterly update, focusing on its strategic progress and financial achievements. One of the...

Baptista Research

FDA approves Eli Lilly's Alzheimer's disease drug Kisunla. However, Eisai is not expected to face immediate competition and is expected to meet...