Valby, Denmark, 2015-05-06 08:06 CEST (GLOBE NEWSWIRE) -- HIGHLIGHTS
- Kåre Schultz appointed as new president and CEO. He will join Lundbeck on 20 May 2015 (see separate release)
- Core revenue remained stable compared to last year as the expected genericization of both Cipralex and Ebixa sales are off-set by appreciation of key currencies and growth in other products. Core EBIT margin reached 6% in spite of significant launch costs
- The launch program of the strategic core products Abilify Maintena®, Brintellix®, Northera® and Selincro® continued in the first quarter of 2015 with more than 20 individual country launches
- Revenue from strategic core products grew by 229% to DKK 691 million in the first quarter representing close to 20% of total revenue
- US revenue growth continued and reached DKK 1,335 million, an increase of 50% in local currency, representing 38% of Lundbeck’s revenue
- Revenue in International Markets was stable at DKK 1,151 million as generic erosion of Cipralex was mitigated by strong growth of other products and product launches, representing 32% of revenue
- Brintellix sales reached DKK 98 million, with non-US markets contributing DKK 24 million. Outside the US, Brintellix has now been launched in more than 20 countries and sales uptake is in line with expectations
- Abilify Maintena launches continue as planned and the product reached DKK 120 million in the quarter – up more than 300%
- Onfi continues its solid performance growing 130% in the quarter to DKK 390 million
- Selincro continues to perform in markets with full market access such as France
- Financial guidance for 2015 is maintained at DKK 13.2-13.7 billion in core revenue and around DKK 0 in core EBIT
In connection with the financial report, Lundbeck’s Chairman, Håkan Björklund said:
“I am pleased to see our portfolio of core products showing good performance and now represent some 20% of revenue. In the quarter we have made more than 20 launches on top of the 39 made last year and we will see further acceleration with launches in several new markets throughout 2015”.
| DKK million | Q1 2015 | Q1 2014 | Growth |
| Core Revenue* | 3,563 | 3,587 | (1%) |
| Core EBIT* | 216 | 729 | (70%) |
| Core EPS* | 0.66 | 2.25 | (71%) |
| Core EBIT margin | 6% | 20% | - |
| Reported Revenue | 3,563 | 3,587 | (1%) |
| Reported EBIT | (32) | 569 | - |
| Reported EPS | (0.41) | 1.69 | - |
| Reported EBIT margin | (0.9%) | 15.9% | - |
*For definition of the measures “Core Revenue”, “Core EBIT” and “Core EPS”, see page 14, and reconciliation to reported figures, see page 21-22
