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Lundbeck on track to deliver on guidance


H. Lundbeck A/S (Lundbeck) reports first quarter revenue of DKK 4,576 million corresponding to an increase of 21%. Profit from operations (EBIT) in the quarter increased 73% to DKK 1,526 million corresponding to an EBIT margin of 33%. The quarter is positively impacted by non-recurring items from milestones and divestiture of the mature US product-portfolio.
  • The New Product category continues its solid performance, an increase of 36% compared to first quarter last year
  • Lundbeck US has increased its revenue by 17% to DKK 535 million excluding Lexapro® as Xenazine®, Sabril® and Onfi®, continue to show solid growth, increasing 18%, 38% and 94% respectively
  • Revenue from International Markets increased 17%, largely driven by markets such as Canada, Japan and China
  • Selincro® has recently been launched in six European markets and Abilify MaintenaTM has been launched in the US
  • First quarter is positively impacted by the expansion of the alliance with Otsuka Pharmaceutical Co., Ltd. A co-development and co-commercialization right for Lu AE58054 has initiated an upfront payment to Lundbeck of DKK 284 million. Lundbeck´s divestment of the US portfolio of non-core products resulted in a gain of DKK 454 million in the quarter
  • Cash flows from operations was DKK 627 million compared to DKK 278 million in first quarter 2012
  • The financial guidance for 2013 provided on 26 March 2013 is maintained as a consequence of the intensified generic competition on Ebixa and increased launch costs in the coming quarters

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