Leqembi Sales Surge 43% YoY in Q2 2026, Excluding China Stockpiling Effect
Event summary
- Leqembi generated JPY 29.3 billion in global sales for Q2 2026, up 10% YoY including a one-time stockpiling effect in China.
- Excluding the stockpiling effect, royalty revenues grew approximately 43% compared to Q2 2025.
- BioArctic's royalty amounted to SEK 179 million, reflecting continued commercial momentum for the Alzheimer's treatment.
- Leqembi is approved in 53 countries and under regulatory review in 6 additional markets.
The big picture
Leqembi's strong performance underscores the growing demand for Alzheimer's treatments, particularly as regulatory approvals expand globally. BioArctic's royalty growth reflects Eisai and Biogen's successful commercialization efforts, positioning Leqembi as a key player in the neurodegenerative disease market. The focus now shifts to sustaining this momentum amid competitive pressures and evolving treatment paradigms.
What we're watching
- Regulatory Momentum
- The pace at which Leqembi gains approvals in additional countries, particularly for subcutaneous formulations.
- Commercial Execution
- Whether BioArctic can sustain high growth rates as Eisai and Biogen expand market penetration.
- Pipeline Development
- How ongoing clinical studies, such as AHEAD 3-45 and Tau NexGen, impact long-term revenue potential.
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