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News Release

November 15, 2004

Eisai In-licenses Anti-hepatitis B Agent clevudine From Bukwang Pharm (South Korea)

Eisai Co., Ltd.
Bukwang Pharm

Eisai Co., Ltd. (Headquarters: Tokyo, President: Haruo Naito) announced today that the Company has in-licensed an anti-hepatitis B agent (generic name: clevudine) from Bukwang Pharm (Headquarters, Seoul, South Korea, President: Sung-Koo Lee).
Under the agreement, Eisai will obtain the exclusive right to develop, manufacture and market clevudine in ten Asian countries excluding South Korea. Eisai will develop the compound in those Asian countries, principally in China, aiming at filing of new drug applications for approval.

Clevudine is an antiviral agent for treatment of hepatitis caused by the hepatitis B virus based on DNA polymerase inhibition. In South Korea, Bukwang is currently conducting Phase III clinical trials. For the treatment of hepatitis B, antiviral agent, interferon, or liver protective agent are used. When plasma virus concentration is high, antiviral agent or interferon are used to control the level of virus. In this case, treatment may take a long time. Clevudine is expected to be a new option for hepatitis B treatment by its powerful antiviral effect.

Hepatitis B is a serious disease with numerous patients particularly in China. Eisai will work to develop this new Hepatitis B, especially in China, to contribute to improving the health care of patients in Asia.

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Eisai Co., Ltd.
Corporate Communications Department
Phone +81-3-3817-5120 (Tokyo)

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[ About Eisai Co., Ltd. ]
Year Founded :1941
Headquarter :Tokyo, Japan
Paid-in Capital :yen44,985 Million (March 31, 2004)
Sales :yen500,164 Million in FY2003
Employee :7,700 (World Wide, March 31, 2004)
Business :Pharmaceuticals

[ About Bukwang Pharm ]
Year Founded :1960
Headquarter :Seoul, South Korea
Paid-in Capital :11,206 million won (March 31, 2004)
Sales :96,834 million won in FY2003
Employee :612 (March 31, 2004)
Business :Pharmaceuticals

[ About clevudine ]
Mode of Action :Antiviral action by HBV DNA polymerase inhibition
Characteristics :Expect powerful and continuous antiviral effect High safety profile
Development Phase :Phase III ongoing in South Korea by Bukwang Pharm,
Filing for approval expected in December 2004

[ Hepatitis B patients in China ]
HBV carrier:About 120 Million (about 10% of total population)
Chronic hepatitis B patients:About 12 Million