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News Release

May 21, 1998

Eisai Withdraws New Drug Application for E1077, an Antibiotic

Tokyo (May 21, 1998) - Eisai Co., Ltd. of Tokyo (President and CEO:Haruo Naito) today announced the discontinuance of the new drug application for E1077, an antibiotic which was filed in March of last year.

E1077 was reevaluated by the company in consideration of the compound's efficacy, other new drug applications presently under review, and the company's research and development priorities.

E1077 was a 4th generation cephem antibiotic and product development proceeded smoothly; however, it was expected that additional necessary time would be required before E1077 could be launched.

In consideration of the following factors: the current medical system environment, the existing product pricing system, the overall reduction in the market for antibiotics, the compound's efficacy, as well as the anticipated launch delay which would have further reduced the compound's potentiality, the decision was made discontinue the new drug application.

Eisai Co., Ltd. is a research-based human health care company which discovers, develops and markets products in more than 30 countries. Through its global network of research facilities, manufacturing sites and marketing subsidiaries, Eisai actively participates in all aspects of the worldwide health care systems. The company reported sales of yen301.8 billion in 1997 with approximately 16 percent of sales spent for research and development.