H. Lundbeck A/S (Lundbeck) reports revenue of DKK 3,563 million for the third quarter of 2012, excluding Lexapro® in the US, an increase of 2% compared to the same period last year. EBITDA and EBIT were DKK 846 million and DKK 661 million respectively, corresponding to an EBITDA margin of 23.4% and an EBIT margin of 18.2%. Profits were affected by the increase in launch costs associated with Lundbeck’s newer products, as well as the loss of revenue from Lexapro due to generic competition.
Distribution of revenue
DKK million | Q3 2012 | Q3 2011 | Growth |
Growth in local currency |
New Products* | 611 | 305 | 100% | 78% |
Cipralex | 1,399 | 1,456 | (4%) | (4%) |
Ebixa | 667 | 707 | (6%) | (5%) |
Azilect | 328 | 301 | 9% | 10% |
Xenazine | 317 | 193 | 64% | 45% |
Europe | 1,891 | 1,934 | (2%) | (3%) |
USA (excl. Lexapro) | 593 | 411 | 44% | 28% |
International Markets | 902 | 901 | 0% | (1%) |
Total revenue | 3,617 | 3,975 | (9%) | (10%) |
*New Products include Xenazine, Sabril, Sycrest, Lexapro (Japan), Onfi and Treanda
In connection with the third quarter report, Lundbeck’s President and CEO Ulf Wiinberg said:
“We are now one step closer to the launch of our novel antidepressant, vortioxetine, following the filing in Europe, Canada and the very important US market. I am also very pleased with the strategic progress of our new product launches and our geographic expansion.”