Lundbeck's third quarter report 2011 - The positive momentum continues
Thursday, 10 November 2011
H. Lundbeck A/S (Lundbeck) reports third quarter revenue of DKK 3,975 million, an increase of 10% compared to the same quarter last year. The growth was driven by increasing revenue from key products and a milestone payment related to the launch of escitalopram in Japan.
Operating profit before depreciation and amortisation (EBITDA) was DKK 1,260 million, an increase of 12% corresponding to an EBITDA margin of 31.7%. As earlier communicated, write offs of DKK 341 million related to restructuring in R&D have been included for the quarter, and as a result profit from operations (EBIT) decreased 22% to DKK 660 million for the quarter.
- Continued growth for the key products Cipralex®, Ebixa® and Azilect®, which grew 5%, 18% and 20% respectively, compared to the same quarter last year.
- Revenue from Xenazine® in the US was DKK 191 million, an increased of 20% compared to third quarter last year.
- Revenue from Sabril® was DKK 77 million and increased 47% compared to the third quarter last year.
- Revenue from International Markets was DKK 901 million and increased 20% compared to the third quarter last year.
- OnfiTM was approved in October and is expected to be launched in January 2012.
- Financial guidance for the full year is unchanged compared to the previous quarter.
In connection with the third quarter report, Lundbeck's President and CEO Ulf Wiinberg said: "We are very pleased with yet another strong quarter, as our marketed products continue to deliver solid results. We are now entering a new era with many new product launches. With the launch of Lexapro® in Japan, the continued roll out of Sycrest® and the forthcoming launch of OnfiTM in the US, we have expanded on our product diversification and strengthened our long term growth prospects substantially."
H. Lundbeck A/S (LUN.CO, LUN DC, HLUKY) is an international pharmaceutical company highly committed to improving the quality of life for people suffering from central nervous system (CNS) disorders. For this purpose, Lundbeck is engaged in the research, development, production, marketing and sale of pharmaceuticals across the world. The company's products are targeted at disorders such as depression and anxiety, schizophrenia, insomnia, epilepsy and Huntington's, Alzheimer's and Parkinson's diseases.
Lundbeck was founded in 1915 by Hans Lundbeck in Copenhagen, Denmark. Today Lundbeck employs approximately 5,900 people worldwide. Lundbeck is one of the world's leading pharmaceutical companies working with CNS disorders. In 2010, the company's revenue was DKK 14.8 billion (approximately EUR 2.0 billion or USD 2.6 billion).