Double-digit growth for all strategic brands and DKK 4,234 million in revenue and DKK 1,200 million in EBIT

HIGHLIGHTS

• Revenue reached DKK 4,234 million in the first quarter of 2019 representing a decline of 8% (6% in local currencies) compared to the same period last year. The decline was expected and a result of generic competition on Onfi^®
  • Revenue of Abilify Maintena^® increased 27% to DKK 462 million (24% in local currencies)
  • Revenue of Brintellix^®/Trintellix^® increased 29% to DKK 601 million (27% in local currencies)
  • Revenue of Northera^® increased 10% to DKK 435 million (3% in local currency)
  • Revenue of Rexulti^®/Rxulti^® increased 30% to DKK 481 million (22% in local currencies)
  • Revenue in North America declined 17% to DKK 2,168 million (21% in local currencies)
  • Revenue in International Markets increased 13% to DKK 1,059 million (13% in local currencies)
  • Revenue in Europe increased 10% to DKK 819 million (10% in local currencies)
• Core EBIT reached DKK 1,410 million corresponding to a core EBIT margin of 33.3%
• EBIT reached DKK 1,200 million in the quarter compared to DKK 1,656 million in 2018 and the EBIT margin reached 28.3% compared to 36.1% the year before
• EPS reached DKK 4.52 in the period compared to DKK 6.03 the year before and core EPS declined 19% to DKK 5.48
• Net cash position improved to DKK 4,552 million compared to DKK 3,292 million the year before
• Lundbeck to acquire Abide Therapeutics, adding a unique discovery platform which can supplement our existing pipeline with projects covering a broad spectrum of neurology and psychiatric conditions. The company’s lead compound is in an exploratory phase IIa program for Tourette’s
• For 2019, Lundbeck has narrowed its revenue guidance to DKK 16.3–16.7 billion while EBIT guidance is maintained at DKK 4.2–4.6 billion. Core EBIT is expected to reach DKK 5.0–5.4 billion

In connection with the financial report, Lundbeck’s President and CEO Deborah Dunsire said:
“I am very pleased with the continued strong growth of our strategic brands, across all regions. Our costs are well controlled, and we are on track to deliver on our guidance for 2019. Importantly, we have announced the first step in executing on our Expand and Invest to Grow strategy which was announced in February.”

       *For definition of the measures “Core Revenue”, “Core EBIT” and “Core EPS”, see note 6 Core reporting