March 1, 2012

Eisai Co., Ltd.

Press Conference

Today’s Topics

Further Globalization

More Innovation

Shareholder’s Value Maximization

2

Further Globalization

Access To Medicine

Demand Chain

Region

3

Efforts To Access To Medicine (ATM)

4

Ad

optio

n

Ava

ilab

ility

Affo

rda

bility

Architecture: fundamental strategy/framework to improve access to medicine

Access Improvement of Access To Medicine

Efforts to focus on Neglected Tropical Diseases; NTD (filariasis), and

Non-Communicable Diseases; NCD (neurology, oncology, and

liver/GI franchises) Reference: Reich & Frost

Efforts Toward Affordability

5

Started to supply Aricept (brand name in India

“Aricep”) and Pariet (brand name in India “Parit”)

at affordable prices suitable to the social,

economic, and healthcare environments of India in

2005.

Aricep achieved the status of No.1 brand in India

in spite of severe competitive environment.

Launched Revovir (generic name: clevudine)

for chronic hepatitis B in the Philippines at an

affordable price in February 2010; achieved

year-on-year growth of 313 %*1 further

contributing to patients.

India Philippines

Continued supply of medicines at “affordable prices” suitable to the social, economic, and healthcare environments in each country

Efficient manufacturing is essential to realize affordable pricing in a sustainable manner

Strive for reduction of manufacturing cost by optimization of global production and supply

Revised the price of Aricept in April 2010 aimed for affordable pricing. Captured more than 40% *2 of

the market share while it increased almost 4 times *3 on a volume basis in FY2010 and FY2011

(cumulative as of January 2012) to increase patient coverage (compared to the FY2009 actual results) .

Indonesia

*1 Comparison between cumulative sales from April 2010 to January 2011 and April 2011 to January 2012 (on local currency basis) *2 Copyright 2012 IMS Health Incorporated or its affiliates. All rights reserved. *3 Comparison between actual sales of FY2009 and actual sales of FY2010 and FY2011 (cumulative as of January 2012) respectively (on local currency basis)

To Realize Affordability By Leveraging The Vizag Plant (India)

Strategically leverage as the supply base of

high-quality

pharmaceutical products

based on distinguished

cost-competitiveness

For Japan Started exporting Aricept 5mg and Myonal 50mg tablets; transferring formulation technology for Pariet

For U.S. Obtained timely approvals from the FDA (in 3 months) for Aricept API and formulation

For Europe Additionally submitted the application for India-origin Aricept API

Based on the agreement with the WHO, Eisai to supply 2.2 billion tablets of DEC

(diethylcarbamazine) for the treatment of lymphatic filariasis as a Eisai’s product from 2013 to 2020

(million tablets) Production Plan at Vizag Plant

6

0

500

1,000

1,500

2,000

FY2011estimate

FY2012target

FY2013target

FY2014target

FY2015target

DEC

Warfarin 1mg

Pariet 20mg

Pariet 10mg

Myonal 50mg

Aricept 5mg

7

London Declaration To Eliminate

Neglected Tropical Diseases (NTDs) The largest international public-private partnership to eliminate NTDs

Realizing “price zero” model as a form of long-term investment

Signed a statement

of intent with the

World Health

Organization (WHO) in

November 2010. Supply medicine free

of charge to the

WHO’s lymphatic

filariasis elimination

program.

January 30, 2012 Established the largest international public-private

partnership with the Bill & Melinda Gates Foundation, the WHO, the U.S. and U.K.

governments, the World Bank and governments from neglected tropical disease-

endemic countries A coordinated effort to eliminate 10 NTDs by 2020 Eisai is the only Japanese company to join the coordinated program; the “London

Declaration.”

Eisai has signed an agreement with the WHO to extend its support to the WHO’s

lymphatic filariasis elimination program until 2020 to supply free of charge 2.2

billion tablets of the medicine DEC (diethylcarbamazine) in line with the WHO

elimination goals

goals. Contributions to the economic development and expansion of the

middle-income class through enhancement of health and welfare

A form of long-term investment for future market growth

London Declaration:

Global Prevalence of WHO-defined 10 NTDSs

Disease Global prevalence Population at risk

Blinding Trachoma 84 million approx. 600 million

Leprosy 0.4 million

-

Human African trypanosomiasis 0.3 million 60 million

Dracunculiasis

(guinea-worm disease) 10,000 -

Lymphatic Filariasis 120 million approx. 1.3 billion

Chagas disease 8-9 million 25 million

Visceral Leishmaniasis 12 million 350 million

Onchocerciasis

(River Blindness) 37 million 90 million

Schistosomiasis 207 million approx. 800 million

Soil-transmitted Helminthes consisting

of ascariasis, trichuriasis and hookworm infection

approx. 800 million (for ascariasis)

approx. 4.2 billion (only for ascariasis)

Reference: Hotez et al., NEJM357: 1010-1027, 2007

Working Together To Treat Chagas Disease

With New Medicines Licensing agreement with DNDi for the clinical development of E1224

(Product Development Partnership; PDP)

9

Dr. Urbina in

Venezuela

discovered that

ravuconazole has

potent activity both

in vitro and in vivo

against Chagas

disease

Chagas disease is transmitted by the bite of the

assassin bug or vinchuca; it is one of the 10 NTDs on

which the WHO is focusing to eliminate by 2020 as with

lymphatic filariasis .

Ravuconazole is an azole anti-fungal drug discovered and developed

by Eisai. Phase I study of E1224 (in oral administration), a prodrug or

salt form change of ravuconazole, was conducted. The study

demonstrated good ADME properties and safety profile.

Proposed by DNDi (Drugs for Neglected Disease initiative; an

independent non-profit foundation), which has been working to develop

a treatment for Chagas disease, Eisai and DNDi entered into a

collaboration and licensing agreement in September 2009 for the

clinical development of a new drug for the treatment of Chagas Disease

In the London Declaration, in particular, 11 pharmaceutical

companies including Eisai pledged their commitment to the

joint development of new drugs to treat 5 NTDs with DNDi

Contributing to new drug development of these diseases in developing countries

through PDP to support R&D for treatment of neglected tropical diseases

Joined World Intellectual Property Organization (WIPO)

sponsored global consortium for neglected tropical

disease research and development

(Public-Private Partnership; PPP)

10

WIPO Re:Search is a

new consortium in

partnership with non-profit

organizations, research

institutions, and

pharmaceutical

companies with the

objective of improving

health level in developing

countries, including least

developing countries

Eisai and other member organizations promote open innovation to

develop new drugs by voluntarily providing intellectual property and

expertise under royalty-free licenses with global research community for

drugs and candidate compounds for WHO-defined NTDs, malaria, and

tuberculosis, via a public database managed by WIPO

All intellectual property, know-how, and compound library licensed through

this consortium are required to be provided on a royalty-free basis for all

research and development of each disease, as well as for supply and sale

of final products in least developing countries.

Eisai is the only Japanese pharmaceutical company to have joined WIPO

sponsored global consortium “WIPO Re:Search” launched on October 26,

2011 with the aim of supporting research and development for NTDs.

Eisai has provided seven candidate compounds to the database, including

a compound that shows potential as a leishmania treatment, an infectious

disease that is endemic in developing countries.

With the aim of improving access to medicine, contributing to realize a sustainable

healthcare solution through sharing intellectual property and know-hows with

pharmaceutical companies

Eisai invites TDR Clinical Research Fellows from developing countries

Training programs for researchers and physicians from developing

countries are provided at Eisai’s facilities in the U.S.

Human Development Programs For Developing Countries Special Program for Research and Training in Tropical Diseases (TDR)

11

Activities of Dr. Ogunfowokan (Nigeria)

after the TDR:

1. Explore new research areas with a

view to develop vaccines to prevent

tropical diseases

2. Promote collaboration between

pharmaceutical companies and clinical

researchers in Nigeria

3. Advocate for stronger regulatory roles

of the clinical research regulatory

authorities in Nigeria

Dr. Mestra (Colombia):

Directly involved in phase II clinical trial

that Eisai and DNDi are conducting for the

treatment of Chagas disease; expected to

put the experience to use immediately after

he returns to Colombia

He is expected to join the early phase of

development of an antimalarial compound

as well

1st TDR Fellow

(2010-2011)

2nd TDR Fellow

(2011-2012)

Through capacity-building programs for researchers and physicians of

developing countries, Eisai contributes to the development of multilateral

activities to improve the access to medicine

Improvement of Access To Medicine

will contribute to the resolution of

health issues in developing countries

thereby creating potential middle-

income class in the future

12

New Demand Chain Systems

13

DCHQ

Demand Chain

Patients

Biologics

DCU

Oncology

DCU

New

Chemical

Entity

DCU

Global

Brand

DCU

Stable

Brand

DCU

Quality

Assurance

CFU

Partnership

Management

CFU

Provide inter-unit coordination and support

Provide common functional excellence

14

Transformation from Mass Production Model

To Global Adaptive Model by Product Line

DCU： Demand Chain Unit that has ownership of product and its accountability

CFU： Core Functional Unit that provides common functional excellence to DCUs

DCHQ： Demand Chain Headquarters that maintains integrity of organization

Site-specific production

by local sites

Implementing end-to-end (from procurement to patient satisfaction)

management on a global basis

API API

Formulation

Packaging

Formulation

Packaging

Formulation

Packaging

Kashima Domestic

plants:

Misato

Kawashima

Sannova

Vizag Overseas

plants:

EML

RTP

Tainan

Bogor

Suzhou

EML：Hatfield plant (UK)

RTP：North Carolina plant (U.S.) 15

Improvement of convenience such as formulation, packaging,

and others based on patient needs

Establishment of optimal supply chain that realizes affordable

price

Improvement of decision-making speed and execution capability

Oncology DCU

New Chemical Entity DCU

Global Brand

DCU

Biologics DCU

Stable Brand

DCU

Procure API

Formulation Packaging

Procure API

Formulation Packaging

Procure API Formulation Packaging

Procure API

Formulation Packaging

Procure API Formulation Packaging

Transformation from Mass Production Model

To Global Adaptive Model by Product Line P

atie

nt S

atis

factio

n

Pursue global optimization of production

to enhance patient satisfaction

16

New Regions

17

18

Regional Structure That Enables Knowledge Sharing

New regional structure to freely exchange

knowledge in the regions

Globally-shared knowledge

ｈｈｃ (first thoughts to patients)

ATM (Access To Medicine)

Compliance

Regionally-shared knowledge

Regulatory Science

Medical Knowledge

Pricing and Reimbursement Strategies

Marketing Informatics (Product, HTA etc.)

Talent Development

19

HQs Locations

Japan

US

UK

Singapore

Regions

East Asia

Americas

Europe, Middle East, Africa

Indo-Pacific

Regional Structure That Enables Knowledge Sharing

New regional structure to freely exchange

knowledge in the regions

20

*

HQs

Japan

China

Korea

Taiwan

Hong Kong

Steady progress of East Asia (EA) Framework

HQs Location: Japan

East Asia region already achieved the target sales composition

of 63% set forth in the plan “HAYABUSA”

Growth prospects of

prescription drug market

“Knowledge” interaction in East Asia region

- Japanese-Chinese-Korean sales force exchange programs/

physician exchange programs

- Promotion of mutual understanding through interaction of key

opinion leaders of Japan and China

- Transmitting hhc knowledge accumulated in Japan

- Promotion of global clinical trials in East Asia; progress of

regulatory harmonization

(CAGR: internal estimates)

Americas

HQs Location: U.S.

21

“Knowledge” interaction in Americas region - Promotion of mutual understanding through

interactions of key opinion leaders in the region

- Utilization of U.S CPP (Certificate of

Pharmaceutical Product) for regulatory

submissions in Latin American countries

- Mexico functions as a major hub of other Spanish-

speaking Latin American countries

- Brazil aims to be the operational base for South-to-

South business

Growth prospects of

prescription drug market

(CAGR: internal estimates)

U.S.

Canada

Mexico

Brazil

Argentina

Venezuela

・ ・ ・

HQs

22

HQs

Europe Middle East Africa (EMEA)

HQs Location: U.K.

“Knowledge” interaction in EMEA region - Transmitting the medical and marketing

knowledge

- Submissions utilizing the EU regulatory dossiers

- Sharing the pricing/reimbursement strategies

EU 27 countries

Switzerland

Turkey

Russia

Central and Eastern Europe

(Estonia, Latvia, and other countries)

Middle East (Saudi Arabia and other countries)

Africa (Egypt, Algeria, Morocco, South Africa, and other

countries)

Growth prospects of

prescription drug market

(CAGR: internal estimates)

23

Indo-Pacific

HQs Location: Singapore

HQs

“Knowledge” interaction in Indo-Pacific region

- Sharing the disease solution model, PPP (Public-

Private Partnership), affordable pricing, and capacity

building and others, which started in India

- Focusing on India, Indonesia, and Indo-China

- Collaboration for regulation, registration, and etc. in

pan-Pacific including ASEAN countries

Singapore

India

Indonesia

Thailand

Cambodia

Laos

Myanmar

Vietnam

Malaysia

Philippines

Australia

New Zealand

・ ・ ・

Growth prospects of

prescription drug market

(CAGR: internal estimates)

0.50

1.00

1.50

2.00

2.50

3.00

1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050

Brazil

China

India

Indonesia

Japan

U.S.

（year）

24

Demographic Structures Of Emerging Countries

That Lead The Economic Growth

*1 working population: population of age 15 – 65 *2 dependent population: population of age less than15 + 65 and above

Transition of [working population*1 ÷ dependent population*2]

Peaks of productive-age population ratio

Brazil 2020 China 2015 India 2040 Indonesia 2025

(Japan 1970 U.S. 1985)

Actual

Reference:

United Nations World Population Prospects, The 2010 Revision

Sato, Yuri (2011) Keizai Taikoku Indonesia, Chuokoron-shinsha, Inc.

Forecast

0.0

20.0

40.0

60.0

80.0

100.0

1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050

population ratio of age 0～14

population ratio of age 15～64

population ratio of age 65 and above

dependent population ratio

（%）

（year）

25

Emerging Country Expected For Future Growth

- Indonesia -

*1 dependent population ratio: dependent population ÷ working population

Transition of demographic structure in Indonesia

Productive population ratio to increase

in the next 20 years to sustain economic activities

Forecast Actual

Reference:

United Nations World Population Prospects, The 2010 Revision

Sato, Yuri (2011) Keizai Taikoku Indonesia, Chuokoron-shinsha, Inc.

*1

Realize more proactive interaction of

global and regional knowledge

under the new regional structure

26

More Innovation

RECEPTOR

CHEMISTRY

INNOVATION

27

Premise

Any remarkable therapeutic

hypothesis will not hold true

without the compound to prove it

28

29

A RECEPTOR

Perceiv ing what is go ing on

in the sc ience wor ld

How we can break down

the in f in i te amount of in format ion

to ident i fy the target

To be equipped with

“sophist icated insights” and

“hunter ’s vis ion”

Name Title

(Chair)

Professor

Yoshito Kishi

Morris Loeb Professor of Chemistry, Emeritus, Harvard University

Professor

Christopher Walsh

Hamilton Kuhn Professor, Department of Biological Chemistry and

Molecular Pharmacology, Harvard Medical School

Professor

Stuart L. Schreiber

Director of Chemical Biology and a Founding Member of the Broad

Institute of Harvard and MIT, Morris Loeb Professor of Chemistry

and Chemical Biology, Harvard University

Professor

David Altshuler

Deputy Director and Chief Academic Officer at the Broad Institute

of MIT and Harvard, Professor of Genetics and Medicine at

Harvard Medical School and Department of Medicine and

Molecular Biology at Massachusetts General Hospital

Professor

Phil S. Baran

Department of Chemistry, Skaggs Institute for Chemical Biology,

The Scripps Research Institute

Professor

Benjamin Cravatt

Department of Chemical Physiology, Skaggs Institute for Chemical

Biology, The Scripps Research Institute

30

Origin of RECEPTOR

Eisai Scientific Advisory Board

31 PCU: Product Creation Unit

A Good RECEPTOR To Internal & External

Knowledge, Inventions, and Discoveries

Examples in oncology and immunology therapeutic areas

Oncology PCU Morphotek Inc.

Small molecule

compound

Biologics

Epizyme Cancer epigenetics

Collaboration

with

Quintiles

PRISM Biolab Protein-protein

interaction inhibitor

H3 Biomedicine Inc. KAN Research Institute

Antibody

MORPHODOMA

Introduction of

seeds from

academia

Antibody/biologics

Cell biology

FORMA Therapeutics

Diversity-oriented

synthesis

compound library

Cancer genomics Scientific founders

Anaeropharma

Science Inc.

Novel cancer drugs

Drug delivery system

technologies

Next-

generation

treatment

approach

TransMolecular Targeting in cancer

Kagoshima

University fulminant hepatitis

Keio University Inflammatory

bowel diseases

Scientific

Advisors

32

World-class

CHEMISTRY strength

Small molecules to

biologics

Strength of Eisai

33

CHEMISTRY Strength:

World-Class Lead Generation System

Utilize information of human biology to find the properties of library compounds Patients

Drugs

Lead

compounds

Efficient lead

generation

High-quality

leads

leading to drugs

Focused screening

Unique creation system

for lead compounds

Original

compounds

Neurology

-focused DOS

Natural

products

GPCR

-focused

Product creation library

Matching analysis for disease target group utilizing human biology

Oncology

-focused

GPCR: G protein-coupled receptor

Screening based on

patient information

・Omics

・Human Cell Culture

.

.

.

34

World-Class CHEMISTRY Strength

Oncology

Natural

products

Diversity-

oriented

synthesis

(DOS)

Neuroscience

Basic

chemistry

Process

chemistry

Excellent Biologics

Monoclonal antibody

in oncology

Morphotek Inc.

Monoclonal antibody

in immunology

KAN Research Institute

Peptide-drug conjugates

Antibody-drug conjugates

Innovative small molecule compounds

e.g., farletuzumab e.g., KANAb001 (E6011) e.g., TM tumor targeting peptide

TM: TransMolecular, Inc.

35

Optimizing Development Strategy With

Maximum Utilization Of Human Biology

Lenvatinib

VEGFR

FGFR

RET

SF3b MEK

FLT3 Chemokine

・・・・

Root-cause targets

Good RECEPTORによる ベスト・マッチング

ターゲットの継続探索

BACE

E7107 E6201 Farletuzumab KANAb001

(E6011) E2609 Golvatinib BAN2401 Ontecizumab

Endosialin Beta amyloid

protofibril

c-MET

VEGFR2

Target

molecules

Human Biology space Chemical space • Search for chemical structures

that have potential to be

effective for challenging

disease targets

• Optimization and maximization

of potency for unique

compounds derived from

collective effort of chemistry

Best matching by a good RECEPTOR

Continued discoveries for potential targets

Gene translocation is

recently identified in some

lung adenocarcinoma

Variation specific to a certain type of

hematological cancer cell is recently identified

in SF3b and its surrounding splicing factors

Diseases

Folate receptor

alpha

36

Combining the RECEPTOR and CHEMISTRY Strength

Halaven

RECEPTOR

CHEMISTRY

INNOVATION

Professor Hirata and Dr. Uemura of Nagoya University and their team of

scientists were able to isolate and identify the full structure of halichondrin B

Success of total synthesis of halichondrin B by a team of scientists led by

Professor Yoshito Kishi from Harvard University

Success in creating promising anticancer agent with high-level organic

synthetic chemistry

Controlled 19 chiral carbons with 64 synthesizing steps

Halaven

Microtubule dynamics inhibitor with a unique mechanism

of action

- Overall survival benefit in metastatic breast cancer

- Ease of administration

- Manageable tolerability profile : Chiral carbon

37

BAN2401 Aricept E2609

Symptomatic Treatment Disease Modifier

J-ADNI: Japanese Alzheimer's Disease Neuroimaging Initiative

Johns Hopkins

University

University

College London Keio University

Imaging

Bexarotene J-ADNI

Neurodegenerative disorders

due to aging

Target for new

mechanism Recent

findings

Neurology-Focused Library

Biomarker

Discovery Research

ADME/toxicity

Prediction

Technology

CSF, blood biomarkers

Brain metabolic imaging

Beta-amyloid imaging

Imaging response to indicate hippocampal degeneration

RECEPTOR

CHEMISTRY

INNOVATION

Eisai pioneered the avenue for medicinal therapy:

continue leading as the First Runner

Alzheimer’s disease

Target for new

mechanism

Utilizing the network of high-level expertise with excellent researching

environment for neurology at UCL (University College London)

38

Unique functional assays of rat primary cultured neurons and

identified the seeds by HTS with compound library

Candidate compounds created with

excellent medicinal chemistry at astonishing speed

・ Synthetic development targeting highly active compounds with unique scaffold structures

perampanel

HTS: High Throughput Screening

CHEMISTRY

RECEPTOR

INNOVATION Creation of first-in-class

AMPA receptor antagonist

Combining the RECEPTOR and CHEMISTRY Strength

Perampanel (investigational agent for epilepsy)

39

DOS library Cancer genomics Cancer drugs aimed for

personalized medicines

＋ ＝

CHEMISTRY

RECEPTOR

Take full advantage of the location in Cambridge

where cutting-edge technology and scientific talent exist

INNOVATION

Control functions of cancer-causing genes identified with genomics analysis through following

approaches:

1. Directly control causative gene

2. Block factors that locate in the downstream of signaling system

3. Control oncogenes that synchronize with other oncogenes

4. Control the dependency of non-oncogenes that synchronize with oncogenes

H3 Biomedicine Inc. strives to create cancer drugs aimed for

personalized medicines combining high-level, extensive library

and genomics to challenging target molecules

Personalized Medicine with Advanced Genomics and

Biomarker Application

Lenvatinib

AD Disease Modifier

E2609 BAN2401 ・ ・ ・ ・ ・ ・ ・ ・

Unique Compound Based On Novel Target

Ontecizumab KANAb001 (E6011) ・ ・ ・ ・ ・ ・ ・ ・

Natural Product Derivatives

Halaven E6201 E7107 ・ ・ ・ ・ ・ ・ ・ ・

More

INNOVATION ＝ RECEPTOR CHEMISTRY

Strength ＋

Farletuzumab Golvatinib ・ ・ ・ ・ ・ ・ ・ ・

40

Shareholder’s Value Maximization

EPS

ROE

B/S

Valuation

41

Financial Strategy Map

To Maximize Shareholder Value

Corporate governance

Viewpoints of shareholders and investors

IR

Strategy ROE

Management

Shareholder

return

DOE ≥ 8%

Compensating cost

of equity via cash

dividend

Maximizing shareholder value

Allocating 1/3 of cash income

in the midterm

Maintain/increase

dividend

Accountability

Achieving

fair valuation

Independent board of

directors: representing the

best interest of shareholders

×

×

Margin

Leverage

Turnover

42

ROE≥20%

43

Linkage of Value Creation

Four factors to realize shareholder value

EPS Growth

Midterm target: to aim for

nearly 500 yen

FY2011 estimate: 212.3 yen

FY2012 target: Increase

FY2013 target: Increase

Strong Balance Sheet

Midterm target Net DER: 0.3 or below

FY2011 estimate: 0.4

FY2012 target: 0.35

FY2013 target: 0.3 or below

Valuation Increase intrinsic

corporate value through

implementation of the

plan “HAYABUSA” Equity Spread* as a source of

shareholder value: 15% (target)

ROE- cost of equity

Value Creation

Further Globalization ROE

Midterm target: 20%+

FY2011 estimate: 15.1%

FY2012 target: Improve

FY2013 target: Improve

*Equity Spread = ROE – cost of equity (%)

Assuming 8% level of cost of equity

More Innovation

Creating sequential INNOVATION with

Good RECEPTOR and world-class

CHEMISTRY Strength

and realizing its Global Access to

enhance corporate value on a

sustainable basis

44

What Eisai Aims For