Solid growth of New Products, positive pipeline development and financial outlook maintained


Valby, Copenhagen, 2014-11-05 07:59 CET (GLOBE NEWSWIRE) --  

HIGHLIGHTS

  • New Products up 46% in local currency and 40% reported in the first nine months of the year
  • US revenue was DKK 2,603 million in the period, an increase of 44% in local currency, and constitutes more than 25% of Lundbeck’s revenue. Onfi®, Sabril® and Xenazine® continue their solid momentum, increasing by 71%, 36% and 21% respectively in local currency, and together with the launch uptake for Brintellix® and Abilify Maintena® are all contributing to the strong growth
  • NortheraTM has been available in the US market since mid-September and the commercial launch took place in October
  • Revenue in International Markets up 12% in local currency, largely driven by Canada and China
  • Brintellix in the US shows robust branded market share development. In-market sales has reached close to DKK 500 million since its launch in January, and almost 250,000 prescriptions have been written
  • Abilify Maintena continues to gain market share in the US and has now been launched in eleven European countries. Initial sales uptake is encouraging
  • Selincro® has received positive health technology assessments in France, Spain and the UK and has recently been launched in Spain, Germany and France
  • FDA accepted the filing for review of brexpiprazole; the filing is supported by seven completed clinical phase II or III studies in two indications, schizophrenia and adjunctive therapy of major depression
  • The financial guidance for 2014 is confirmed
  • The preliminary outlook for 2015 indicates revenue at the level of or slightly below 2014. Following increased launch activity including the expected US launch of brexpiprazole core EBIT is expected to be close to zero or slightly negative

 

In connection with the third quarter report, Lundbeck’s President and CEO, Ulf Wiinberg said:  

“In the period we have focused on successful execution of our new product launches in the US, Europe and in International Markets. We are in the middle of our most extensive launch efforts in the history of Lundbeck, and have until now had 25 launches of new products, and expect to have more than 50 launches during the next 12 months”.

  

DKK million 9M 2014 9M 2013 Growth
Core Revenue* 10,221 10,821 (6%)
Core EBIT* 1,466 2,234 (34%)
Core EPS* 4.27 8.04 (47%)
Core EBIT margin 14.3% 20.6%  
Reported Revenue 10,221 11,671 (12%)
Reported EBIT 937 1,531 (39%)
Reported EPS 2.45 4.24 (42%)
Reported EBIT margin 9.2% 13.1%  

*For definition of the measures “Core Revenue”, Core EBIT” and “Core EPS”, see page 15 and reconciliation to reported, see page 22
 

 


Attachments

Q32014_Corporate_Release_FINAL.pdf