Mixed Results From Japanese Drugmakers

First-half fiscal 1997 ending September 30 results from Japanesepharmaceutical companies are showing significant differences in performance.

Eisai's Domestic Sales Slide 1.1% In the first half of fiscal 1997, Eisai saw its total sales rise a marginal 0.2% year-on-year, but fell well short of its initial projection of 133 billion yen ($1.07 billion). Sales on the domestic market, to which Eisai is highly exposed, fell 1.1% compared with the first half of the previous year. Domestic revenue from all its major pharmaceutical products, with the exception of its osteoporosis drug Glakay (menatenone), were down year-on-year.

Eisai's number one product, the antiulcer agent Selbex (teprenone), suffered a 6.3% cut in the reimbursement price, while generic versions of the drug hit the market in July; overall sales value for Selbex fell 1.7% in the first half. Revenues from Selbex are expected to decline, perhaps even by double digits, in the second half. On the upside, sales of Glakay were up 48% in the first half and US sales of Aricept (donepezil), at $90 million for April-September, are expected to easily achieve Eisai's target of $150 million in fiscal 1997. However, news that Aricept's effectiveness is being challenged (Marketletter November 3) may hurt sales.