Solid sales performance in 2015 and return to profitability in 2016

Valby, Denmark, 2016-02-10 07:46 CET (GLOBE NEWSWIRE) --

HIGHLIGHTS

• In 2015, revenue reached DKK 14,594 million representing an increase of 8% (0% in local currencies). The performance was driven by the key products (Abilify Maintena^®, Brintellix^®, Northera^®, Onfi^®, Rexulti^®)
  • US revenue increased 69% (43% in local currency) to DKK 6,353 million
  • Revenue in Europe declined 22% (23% in local currencies) to DKK 3,896 million
  • International Markets declined 8% (11% in local currencies) to DKK 3,827 million
• Revenue from key products grew 171% (135% in local currencies) to DKK 3,647 million in 2015 representing 25% of total revenue
  • Abilify Maintena sees strong growth reaching DKK 669 million. The growth of 220% (191% in local currencies) was generated in all regions, but particularly in Europe
  • Brintellix sales reached DKK 629 million, with non-US markets contributing DKK 226 million or 36%
  • Northera was launched in Q3 2014 and achieved DKK 475 million in sales
  • Onfi continues its solid performance growing 90% (63% in local currencies) to DKK 1,757 million
  • Following the launch in the US in August 2015, Rexulti reached DKK 117 million for the year for Lundbeck  
• In the second half of 2015, the underlying EBIT-margin (core-EBIT) reached 6.8% compared to 0.9% in the same period in 2014
• Lundbeck’s has announced long-term financial targets which consist of an EBIT-margin of 25%, ROIC of 25% and a cash-to-earnings greater than 90%
• For 2016, Lundbeck expects revenue of around DKK 13.8-14.2 billion and EBIT is expected to reach DKK 1.0-1.2 billion
• The executive management in Lundbeck has been expanded by three members

In connection with the financial report, Lundbeck’s President and CEO, Kåre Schultz said:

“I am pleased with the progress of our restructuring programme and also with the sales momentum of our key products which gives me great confidence in the future of our company in general. For 2016, we expect a return to profitability and solid cash generation as well as a continued solid sales growth of our key products”.