H. Lundbeck A/SH. Lundbeck A/S (Lundbeck) announces 2009 results, which meet financial forecasts and continue to show growth in all regions. Full year revenue was DKK 13,747 million and increased 22% at constant exchange rates compared to 2008. Growth was driven by key products and the acquisition of Ovation Pharmaceuticals, Inc. (now Lundbeck Inc.).

  • Going into 2010 Lundbeck has three products - Azilect®, Xenazine® and Sabril® - with the potential to be significant contributors to revenue and growth.
  • Cipralex®, Ebixa® and Azilect® continue to show strong growth by 12%, 17% and 43% respectively. Lexapro® was up 9%.
  • Xenazine® contributed DKK 298 million in the 9 months, following the acquisition of Ovation (now Lundbeck Inc.) in March 2009.
  • Lundbeck writes down Circadin® rights of DKK 157 million.
  • Profit from operations (EBIT) was DKK 2,858 million in 2009. EBIT margin was 20.8% for the year. Operating profit before depreciation and amortisation (EBITDA) was DKK 3,728 million corresponding to an EBITDA margin of 27.1%.
  • Lundbeck expects revenue of DKK 14.3-14.8 billion and EBIT of DKK 3.0-3.4 billion for 2010.
  • The Supervisory Board proposes to pay dividend of DKK 3.07 per share.

In connection with the full year report, Lundbeck's President and CEO Ulf Wiinberg said: "Our key products continued to gain market share, we have shown strong financial performance and have reached our financial expectations. Although the development of Lu AA21004 is delayed, additional positive data have further strengthened our belief in the compound. During the year we acquired Lundbeck Inc. and with the launch of the Decisions Now programme, we have made significant progress in addressing our 2012 challenge."

An electronic version of the annual report for 2009 and further information about Lundbeck is available from the company's website www.lundbeck.com. The print version of the annual report for 2009 will be available on 7 April 2010.

About Lundbeck
H. Lundbeck A/S (LUN.CO, LUN DC, HLUKY) is an international pharmaceutical company committed to improve the quality of life for people suffering from central nervous system (CNS) disorders. For this reason, Lundbeck is engaged in the research and development, production, marketing and sale of pharmaceuticals across the world, targeted at disorders such as depression and anxiety, schizophrenia, insomnia, Huntington's, Alzheimer's and Parkinson's diseases.

Lundbeck was founded by Hans Lundbeck in 1915 in Copenhagen, Denmark, and today employs over 5,500 people worldwide. Lundbeck is one of the world's leading pharmaceutical companies working with CNS disorders. In 2009, the company's revenue was DKK 13.7 billion (approximately EUR 1.8 billion or USD 2.6 billion). For more information, please visit www.lundbeck.com.