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Published on 14 November 2008

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Positive financial year for Lundbeck

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Pharmaceutical giant Lundbeck has seen sales of Cipralex and Azilect increase by 21% and 42%, respectively, at constant exchange rates in Q3 2008.

Ebixa sales also rose by 12% in Q3 2008 compared with the year-earlier period. Revenue growth was driven by increases in the markets in Europe and in International Markets, with both segments recording growth of 12% at constant exchange rates in Q3 2008 relative to Q3 2007.

Lundbeck’s underlying business posted third-quarter growth of 6% in revenue and 10% in profit from operations. As announced in the interim report for the second quarter of 2008, Lundbeck has resolved to reduce its Lexapro inventories in the USA in the second half of 2008, which has reduced the third-quarter profit by approximately DKK 100 million.

Ulf Wiinberg, Lundbeck’s President and CEO said of the report:

“Despite a general macro-economic slowdown Lundbeck shows solid growth generated by our innovative pharmaceuticals in Q3. We retain our full-year financial guidance for 2008 and expect an increase in research and development investments in the remaining part of the year.”

Lundbeck has three compounds in phase II and phase III clinical development for the treatment of depression, anxiety and bipolar disorder. This is one of the largest disease areas with a substantial unmet medical need in spite of the many treatment options available today. WHO expects that it will continue to be one of the three largest disease areas for the next 20 years. If the development programmes for the three projects targeting this disease area are successfully completed, all three compounds could be approved and marketed during the period 2011-2013.

Lundbeck



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