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Lundbeck achieved strong delivery of guidance and momentum in 2010, according to its full year report, and this is forecast to continue this year.
The company announced 2010 results that met all financial expectations.
Full year revenue was Danish Krone (DKK) 1,4765million (1979million EUR) and increased 7% compared with 2009, driven by a positive development in all regions.
Profit from operations (EBIT) was DKK 3357million (450million EUR), increasing 17% and corresponding to an EBIT margin of 22.7% for the year.
Cipralex®, Ebixa® and Azilect® continue to show strong growth of 9%, 11% and 34% respectively. Lexapro® revenue was marginally down compared to 2009
Xenazine® contributed DKK 610m (82 EUR) growing 105% compared to last year
Operating profit before depreciation and amortisation (EBITDA) was DKK 4393m (588m EUR) corresponding to an EBITDA margin of 29.8% and thereby exceeding guidance
Long-term growth prospects improved during 2010 as a result of six new partnership deals and positive Phase III data for three pipeline compounds
Lundbeck expects revenue of DKK 15.3-15.8bn (2.05-2.12bn EUR), EBITDA of DKK 4.3-4.6bn (0.58-0.62bn EUR), EBIT of 3.3-3.6bn (0.44-0.48 EUR) for 2011 and net profit of DKK 2.3-2.6bn (0.32-0.35bn EUR).
