H. Lundbeck A/S (Lundbeck) reports revenue of DKK 11,671 million for the first nine months of 2013, up by 7% versus 2012. Profit from operations (EBIT) grew by 7% to DKK 1,531 million during the first nine months, corresponding to an EBIT margin of 13%. In the third quarter Lundbeck recognised the remaining divestiture gain to Recordati of DKK 112 million and the provision related to the Fit-for-the-Future programme of DKK 200 million.
- Brintellix received FDA approval on 30 September
- The New Products category continues its solid performance with an increase of 41% for the first nine months of the year
- Revenue in the US increased by 18% to DKK 1,818 million excluding Lexapro® with especially Xenazine® and Onfi® continuing to show solid growth
- Selincro® has recently received reimbursement in the Netherlands and positive HTA assessment in Scotland, and the Netherlands represents the first commercial launch
- Abilify Maintena has received a positive CHMP opinion and recommendation for marketing authorisation in the European Union. In the US, the initial uptake is encouraging
- The transformation of the European commercial infrastructure (Project RECO) is now in place, and Lundbeck has initiated the further optimization of administrative processes (Project Fit for the Future). The EBIT margin remains stable even with substantial investments in new product launches, the late-stage pipeline, as well as restructuring charges
- For the full year 2013 Lundbeck now expects reported EBIT to be DKK 1.5-1.7 billion. The previous guidance was a reported EBIT of DKK 1.3-1.7 billion. The range for revenue is maintained at DKK 14.8-15.2 billion
In connection with the third quarter report, Lundbeck's President and CEO Ulf Wiinberg said: "This has been yet another strong period for Lundbeck - from a financial, regulatory and clinical development perspective. With the most recent FDA approval of Brintellix we have achieved a solid platform for our ambition to provide long-term growth."
About Lundbeck
H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY) is a global pharmaceutical company specialized in brain diseases. For more than 50 years, we have been at the forefront of research within neuroscience. Our development and distribution of pioneering treatments continues to make a difference to people living with brain diseases. Our key areas of focus are alcohol dependence, Alzheimer's disease, depression/anxiety, epilepsy, Huntington's disease, Parkinson's disease, schizophrenia and stroke.
Our 5,800 employees in 57 countries are engaged in the entire value chain throughout research, development, production, marketing and sales, and are committed to improving the quality of life of people living with brain diseases. Our pipeline consists of several late-stage development programs and our products are available in more than 100 countries. We have research centers in China, Denmark and the United States, and production facilities in China, Denmark, France, Italy and Mexico. Lundbeck generated revenue of approximately DKK15 billion in 2012 (EUR 2 billion; USD 2.6 billion).
Lundbeck's shares are listed on the stock exchange in Copenhagen under the symbol "LUN". Lundbeck has a sponsored Level 1 ADR program listed in the US (OTC) under the symbol "HLUYY".