1Q FY2009(Fiscal Year Ending March 31, 2010)

Financial Results
Presentation

July 31, 20091

Safe Harbor Statement•Materials and information provided during this presentation may contain socalled “forward-looking statements.” These statements are based on current
expectations, forecasts and assumptions that are subject to risks anduncertainties which could cause actual outcomes and results to differ materiallyfrom these statements.

•Risks and uncertainties include general industry and market conditions, andgeneral domestic and international economic conditions such as interest rateand currency exchange fluctuations. Risks and uncertainties particularly applywith respect to product-related forward-looking statements. Product risks anduncertainties include, but are not limited to, technological advances and patents
attained by competitors; challenges inherent in new product development,
including completion of clinical trials; claims and concerns about product safetyand efficacy; obtaining regulatory approvals; domestic and foreign healthcare
reforms; trends toward managed care and healthcare cost containment; andgovernmental laws and regulations affecting domestic and foreign operations.

•Also, for products that are approved, there are manufacturing and marketingrisks and uncertainties, which include, but are not limited to, inability to build
production capacity to meet demand, unavailability of raw materials, and failure
to gain market acceptance.

•The Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future eventsor otherwise.
2

1Q Consolidated Performance(GAAP)

1Q FY2008(Billion Yen, %)1Q FY2009

Results%

Results%

195.8

100.0

194.7

100.0

99

39.4

20.1

38.3

19.7

97156.579.9

156.3

80.3

100

R&D Expenses

35.7

18.3

39.4

20.2

110

SG&A Expenses

96.7

49.4

92.8

47.7

96

Operating Income

24.1

12.3

24.1

12.4

100

Ordinary Income

23.9

12.2

23.2

11.9

97

Net Income

16.6

8.5

16.3

8.4

98

Net Sales
Cost of Sales
Gross Profits

YOY*The above consolidated financial results calculated on a GAAP basis include the accounting treatment for businesscombinations applied in accordance with the acquisition of MGI PHARMA
Included in 1Q results: Cost of Sales: Amortization of sales rights ¥4.2 billion yen
R&D Expenses: Amortization of technology assets ¥200 million
SG&A Expenses: Amortization of goodwill ¥ 2.2 billion

3

Sales of Major Products
Products

Aricept®
Alzheimer’s
Disease Treatment

AcipHex®/Pariet®
Proton Pump
Inhibitor
Anti-ulcer Agent

Oncology related products

Area

1Q FY2008
Results

1Q FY2009
%

Japan

19.4

U.S.
$ Million(Billion Yen, %)Results

YOY%

23.4

120

43.4

42.7

98

[415]

[438]

[106]

Europe

8.0

7.2

90

Asia

2.1

1.6

75

Total

72.9

37.2

74.8

103

38.4

Japan

11.0

(27.0)

13.4

121(36.5)

U.S.

25.9

19.876$ Million

[248]

[203]

[82]

Europe

2.5

2.1

84

Asia

1.4

1.5

101

Total

40.8

20.9

36.7

90

18.9

Total

19.6

10.0

19.7

101
[108]

10.1

(26.7)(31.3)[ ] Impact of exchange rate excluded; ( ) are % within the product4

Sales to Customers by Geographic Area
(Billion Yen, %)1Q FY2008
Results

1Q FY2009%

Results

JapanJBHQ

84.5
73.0

43.1

NorthAmerica%

YOY

46.6

107

37.3

90.7
81.6

41.9

112

89.5

45.7

83.8

43.0

94
[101]

Europe

13.9

7.1

12.6

6.5

90
[114]

China

2.8

1.4

3.4

1.8123
[130]

AOME

5.1

2.6

4.2

2.1

81
[100]

Overseas
Total

111.3

56.9

103.9

53.4

93Total

195.8

100.0

194.7

100.0

99

AOME: Asia, Oceania and the Middle East
JBHQ figures are the total of the prescription drugs, OTC, diagnostic and generic business segments[ ] Impact of exchange rate excluded

5Operating Income by Geographic Area
(Billion Yen, %)（GAAP）
1Q FY2008
Results

1Q FY2009%

Results%

YOY

Japan

22.2

87.8

22.4

88.2

101

North
America

0.2

0.8

0.6

2.2261

Europe

0.9

3.5

1.3

5.0

145

China

0.62.50.4

1.4

56

AOME

1.3

5.3

0.8

3.2

61

Overseas Total

3.1

12.1

3.0

11.8

98

Elimination/Corporate

-1.2

-1.3

24.1

24.1

Total

1006

Performance ofU.S. Pharmaceutical Business(Eisai Inc. + MGI PHARMA, US GAAP Base)
1Q FY2008
Results%

Results

YOY%

Others9042114

MGI Total

147

Lymphoma Products, etc.
Total

181691

2233148

Aricept® + AcipHex®
Aloxi®
Dacogen®
Oncol
ogy

1Q FY2009
864
438
203
642
97
43103153

Net Revenue
Aricept®
AcipHex®

Gliadel®

Fragmin®

863415248663($ Million, %)

100.0
48.1
28.7
76.8

100.0
50.7
23.5

10010682

74.3

97108
103
8576
104

187

21.7

202

23.4

108

Operating Income

252.9

293.3

113

Operating Income

160

18.6

188

21.8

117

Total

(before royalty deduction)

7

Aim of Eisai Product Creation Systems(EPCS)

Maximize Product Development Efficiencies
From Discovery to Marketing Clearance8

Level of Innovativeness Expressed byShortening of Development Time
- Discovery of truly innovative substances- Most modern screening systems- Best safety and ADME research in terms of predicting
clinical results- Timely provision of high quality clinical drug products- Cutting edge biomarkers and imaging capabilities that
improve translational research- Best efforts to conduct efficient clinical studies in termsof speed and scale- Well-crafted regulatory strategies- Appropriate go/ no go decision-making・・・Results in Shortening of Product Development Time9Overview of EPCS
7 Discovery Areas

6 Technology Function Areas

Neuroscience PCU
Oncology PCU

Pharmaceutical Science &Technology CFU

Morphotek PCU

Biomarker & Personalized
Medicine CFU

Frontier PCU

Scientific & Operational ClinicalSupport CFU

Premier PCU

Next Generation Systems
CFU

KAN PCUBiopharmaceutical Assessment
CFU

Clinical Research Center PCU

Global Regulatory CFU

ＣＥＯ Ｏｆｆｉｃｅ

Chief Product Creation Officer(CPCO)

Chief Scientific Officer (CSO)
PCU: Product Creation Unit
CFU: Core Function Unit

10

NME Submissions Planned for FY2009
eribulin(E7389, Microtubule dynamic inhibitor）
Country/Region ofApplication

Europe/U.S.

Japan

Switzerland/Singapore

Study Targeted forSubmission

Study 305

Study 305 & Study 221

Study 211 & Study 201

Study 305

Study 221

Study 211

Study 201762 patients

84 patients

299 patients

103 patients

Locally recurrent or
metastatic breast cancer
pretreated with ananthracycline and a taxane,
and refractory to the lastchemotherapy regimen

Advanced or recurrent
breast cancer pretreated with ananthracycline and ataxane

Locally advanced ormetastatic breast cancer
pretreated with ananthracycline, a taxane anda capecitabine, andrefractory to the lastchemotherapy regimen

Advanced ormetastatic breast
cancer pre-treatedwith an anthracycline
or a taxane

Control Drug

Physician’s Choice of Drug

None

None

None

Primary Endpoint
for Efficacy

Overall Survival

Response Rate

Response Rate

Response Rate

Country/Region ofClinical Study

Europe, North/SouthAmerica and others

JapanU.S./Canada/EuropeU.S.

Patient Enrolment

Target Disease• Number of cases (411 patients) necessary for the final analysis of Study 305 has been reached, with preparations fordatabase lock at the end of August progressing smoothly• MAA submission made using data primarily from Study 211 in Switzerland and Singapore (July 2009)
9Acceptance confirmed by Swiss regulatory authority. Awaiting confirmation of acceptance from Singapore authority.
• Study 209 （comparative study of neuropathy events in comparison with ixabepilone） is ongoing• Simultaneous NDA/MAA submissions in Japan, U.S. and Europe are planned for 4Q FY200911

NME Submissions Planned for FY2009
eritoran tetrasodium （E5564, Endotoxin antagonist）

・ Progress of Phase III Trials （Study 301）
– Steady Patient Enrollment
・All study sites in 24 Countries are now open （North & South America,Europe, Asia and others）
・1200 patients enrolled （As of July 2009）– Safety review of 1100 patients by Data Monitoring Committee (DMC) planned forearly August– Interim efficacy analysis scheduled at 1500 patients; once all subjects completed,simultaneous NDA/MAA submissions to be made in Japan, the U.S. and Europe
with data from Study 301
・ Submission Strategy– Designation of fast-track approval in the U.S.
– Preparations for launch of first in class drug for treatment for severe sepsis by
Global Launch Team are underway• Establish positioning of the drug as a new mechanism of action ‘TLR-4
antagonist,’ and early suppressor of formation of inflammatory cytokine• Considering seeking incorporation of eritoran into the varying severe sepsis
standard treatment guidelines in key countries.
– Simultaneous NDA/MAA submissions in Japan, the U.S. and Europe planned for
4Q FY200912

Pipeline Product to Increase Patint Benefits
E5555 (Thrombin receptor antagonist）
・ Progress of Phase II Trials （Studies 201, 202, 206, 207）
– Acute Coronary Syndrome• Study 202 (US/ Europe)– Enrollment of 600 patients (Feb 2009)– LPO (last patient out) completed (Jun 2009)• Study 207 (Japan)– LPI (last patient in) completed (May 2009)– Atherothrombosis• Study 201 (US/ Europe)– LPI completed (Jan 2009)• Study 206 (Japan)– LPI completed (Sep 2008) and LPO completed (Mar 2009)• Next Steps– Database Lock of each study is expected in Q2/Q3 FY2009– Phase III study design will be fixed after consultation with healthauthorities– Submission of marketing authorization applications for Acute Coronary
Syndrome planned for FY201213

Japan BusinessContinued High Growth through Eisai’s Unique Integrated Four Businesses– Pharmaceutical Business grew 12%, exceeding market growth by 6 points*– Eisai’s sales ranking in Japan rose one position from the previous year to rank 7th*
– Aricept® was ranked 5th and Pariet 12th in the April to June (cumulative) productranking*– Sales of generic products during the 1st quarter grew rapidly, reaching 1.5 times
the figures of the previous year
– Aricept® penetration rate for the 1st quarter increased by 3.8 points from previousyear, reaching 53.8%– Received approval for a new oral jelly formulation of Aricept® on July 13th
– Aim to achieve sales of 96 billion yen (123% YOY) in FY2009– Market share of Pariet® in the 1st quarter among PPI’s increased by 1.3 points
from the previous year, reaching 32.6%– Disease awareness-raising activities, such as national newspaper ad and insert
campaigns, led to increased website access (440,000), and greater diseaseawareness among patients.
– Aim to achieve sales of 52 billion yen (117% YOY) in FY2009
Source: IMS Japan, JPM Apr – Jun 200914

Japan BusinessFavorable Progress in Development of New Products for Japanese market
Humira®
– Continued careful surveillance of cases giving the highest priority to safety of patients– Post Marketing Surveillance to promote appropriate use is on going. Results of analysis of 3000 cases
will be announced before the end of the fiscal year
– Pursuing the benefit of self-injection at home following July removal of restriction on long term dose pack
– Strive to achieve sales of 7.5 billion yen in FY2009
Obescare Capsules 10mg (Anti-obesity Agent: KES524: Passed by 1st Committee on Jul 24, 2009)– Assumed indication“Weight management of obese patients with a BMI of over 25kg/m2 who have Type II Diabetes andabnormal lipid metabolism associated with accumulation of visceral fat (only for patients who don’t see
sufficient results through dietary measures and exercise therapy)– Target patients“Latent prevalence of obesity is 27 million, of which one million also have Type II Diabetes and abnormal
lipid metabolism (TESTA MARKETING 2007)”– Contribute to patients with new products to be launched during or after FY2009
9 Anti-cancer agent, (breast cancer) Eribulin: MAA submission planned for FY 2009
9 Sepsis antagonist, Eritoran: MAA submission planned for FY 2009
9 Cervical Dystonia agent (E2014): MAA submission made in 2006
9 Non-Hodgkin’s lymphoma agent, bendamustine HCl (SyBL-0501): MAA submission planned for
FY20099 Insomnia agent (SEP-190): MAA submission planned for FY2010
9 Drug-Eluting Bead products for Hepatocellular Carcinoma (DC Bead™/ LC Bead™)
15

U.S. Business・ Expanding further contributions to patients with Aricept® and Aciphex®

Aricept®
- 23mg SR formulation: Eisai plans to submit an NDA of the formulation which aims to increase patient
benefit while maintaining the safety profile within the 1st half of FY2009-Once-a-week transdermal patch formulation: Teikoku Pharma USA Inc. plans to submit an NDA in themiddle of FY2009.
- Establishing pediatric usage: FDA declined to issue a Written Request for the application of studies.

Aciphex®
-ER Formulation: NDA submission is planned for FY2009 aiming to make the formulation as thestrongest PPI・Accelerate transformation to oncology/biologics market––––––

Accounted for 23.4% of sales, up 1.7 points compared to the same period of the last fiscal year
Aloxi® maintains continuous growth of sales and 52% of market share in the CINV clinic market*,despite competition with multiple generics
Progress Dacogen patient value programs and renew market share growth in MDS segment– 5 days dosing regimen sNDA application, AML pediatric clinical trial, AML adult clinical study
Phase III– Current NCCN (National Comprehensive Cancer Network) guideline
Rapid growth of Fragmin® (148% YOY) with enhanced
focus on promotion within oncology indication
RTP Oncology Manufacturing Facility
RTP oncology manufacturing facility construction will
be completed in FY2009 (start production in FY2010)
Aggressive investment in clinical production facility ofMorphotek (approx. 7.5 billion yen)*Source: Tandem US Oncology Monitor, May 2009 MAT16

U.S. Business
Creation of a flexible sales structure to successfully launch new products onto the market starting from 2009Banzel® (Lennox-Gastaut Syndrome)
・Incorporated in to Medicaid plans in 29 states following its launch in January 2009

・ Awarded 2009 Corporate Award by the NORD (National Organization of RareDisease)

Lusedra™ (Sedative)
・ Approved in December 2008 and recommended as FDA controlled substance. In
July 2009, the U.S. Drug Enforcement Administration recommended it be designated asa Schedule IV drug (of five classes). Product launch is planned for 3Q FY2009, following
a 30-day public comment period, and ruling on labeling.

Initiation of Global Launch Team supporting up to 4 products launch during
FY2010 (Aricept® 23mg SR, Patch Formulation, Eribulin, Eritoran)・Planning for new product strategies to create enhanced patient benefits

・ Creating new market access strategies looking toward the evolving futureenvironmental changes
・

Health-economic studies being conducted in accordance with the local market needs

・

Establishing updated pricing strategies within new and emerging markets
17Europe Business
Established European Knowledge Centre

Promotion of knowledge creation through theconsolidation of discovery research, clinicalresearch, manufacturing, marketing andEuropean headquarters functions at theEuropean Knowledge Centre.
- Opening ceremony was held on June 26th, 2009
- Production of packaging of Aricept will begin in the 1st half of FY2009,
followed by packaging for Pariet and Zonegran. Formulation production
expected to begin in FY2010, this facility will be a core function in theEuropean value chain.
- Synthesis and pharmacology started in July 2009. Disposition researchis expected to begin in the 2nd half of FY2009.

Establishment of an anti-epilepsy franchise with a line-up of products which havedifferent features• ZEBINIX® (Novel carboxamide, inhibition of sodium channel)
・ The European Commission granted Bial Marketing Authorization on April 21st, 2009. Eisai is currently conducting prelaunch activities such as filing pricing & reimbursement applications in each country.
• Launch in Germany and the U.K. is planned for the end of September and October 2009 respectively.

• Zonegran® (Inhibition of sodium/calcium channels, GABA receptor binding, launched in June 2005)• Inovelon® (Active in Lennox-Gastaut Syndrome, inhibition of sodium channel, launched in May 2007)• E2007 (AMPA receptor antagonist, submission planned for FY2012)18

China/ AOME Business
Product Line-Up Corresponding to the Disease Structure (Main Products)• GI Area- Liver disease: Stronger Neo-Minophagen® C, Glycyron® Tablets, clevudine, LIVACT®Granules- Gastrointestinal diseases: Pariet®, Selbex®, Gasmotin®
• Endo & Orthopedic area
-Diabetes: Methycobal®, Glufast®, alpha-Lipon 300 STADA®
-Musculoskeletal diseases: Glakay®, Myonal®
• CNS Area
- Alzheimer’s disease: Aricept® (Additional indications for severe AD and Rapid DisintegrationTablet)- Epilepsy: Zonegran®, rufinamide• Oncology Area
- bendamustine, eribulin mesylate• Frontier Area
- dysuria associated with benign prostatic hyperplasia:
Urief®
Marketed: in blue letters

Visag Plant

Visag Plant, India (Under Construction)• Construction of the plant is progressing as planned (inauguration in FY2009)• Aim to Establish production system that enables to deliver high-quality products at
low cost for all patients in the emerging area
19

FY2009 Financial Forecast(No Change from forecast as of May 2009)(GAAP Based)

FY2008Results(Billion Yen, %)FY2009%Forecast%

YOYNet Sales781.7

100.0

820.0

100.0105

Cost of Sales

152.5

19.5

157.5

19.2

103

Gross Profits

629.3

80.5

662.5

80.8

105

R&D Expenses

156.1

20.0

164.0

20.0

105

SG&A Expenses

381.4

48.8

395.5

48.2

104

Operating Income

91.8

11.7

103.0

12.6

112

Ordinary Income

82.6

10.6

97.0

11.8

117

Net Income

47.7

6.1

63.0

7.7

132

Cash Income
Dividend per Share (yen)

119.0
140

120.0
150

•FY2009 forecast exchange rates: US$ = 95 yen (YOY -5.5%), Euro = 125 yen (YOY -12.9%), GBP = 135 yen (-22.4%)•Cash income is the total amount of cash available for investments for growth, business development, dividend payment, andrepayment of borrowings, etc.
Cash income =Net income + Depreciation of PP&E and amortization of intangible assets + Amortization of goodwill+ Loss on impairment ( including loss on devaluation of investment securities)
20