Breaking News & Headlines

Pharmaceutical Eisai Winner on Flat Japanese Stock Market

0 24,646

The Japanese pharmaceutical company Eisai was among the biggest risers on the stock exchange in Tokyo on Thursday. Investors reacted enthusiastically to the positive developments in the United States surrounding an experimental therapy of the company against Alzheimer’s.

 

The Japanese stock market barely moved after the uninspiring trading session on Wall Street. Fears that the corona support measures in the US will be phased out earlier than expected have made investors cautious.

Eisai added 1.6 percent. The US drug watchdog FDA has designated Eisai and its US partner Biogen’s experimental therapy lecanemab, targeting the early stages of Alzheimer’s disease, as a breakthrough therapy. This is an indication from the FDA that accelerates drug development and indicates that the treatment has advantages over existing drugs. Earlier this month, another Alzheimer’s drug from Eisai and Biogen was already approved for use in the United States.

The Nikkei in Tokyo finished almost unchanged at 28,875.23 points. Technology group Toshiba won 0.5 percent. The diamond financial magazine reported that computer memory manufacturer Kioxia Holdings is likely to go public in early September. Toshiba owns more than 40 percent of Kioxia Holdings, formerly known as Toshiba Memory.

The other major stock markets in the Asian region showed a mixed picture. The Shanghai stock exchange was down 0.1 percent while the Hang Seng index in Hong Kong climbed 0.1 percent. The Kospi in Seoul won 0.2 percent, and the Australian All Ordinaries in Sydney lost 0.5 percent.

Leave A Reply