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  • H. Lundbeck A/S/
  • Lundbeck increased revenue by 5% driven by US sales growth of 33% leading to improved profitability and increased financial guidance for 2016
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Lundbeck increased revenue by 5% driven by US sales growth of 33% leading to improved profitability and increased financial guidance for 2016

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HIGHLIGHTS

  • Revenue reached DKK 7,521 million in the first half of 2016 representing an increase of 5% in both reported and local currencies compared to the same period last year
    • Total revenue has delivered a better performance than expected driven by Xenazine® and key products
    • US revenue increased 33% (31% in local currency) to DKK 3,840 million
    • Revenue in International Markets declined 5% (unchanged in local currencies) to DKK 2,033 million
    • Europe declined 26% (25% in local currencies) to DKK 1,453 million
  • Revenue from key products grew 99% (99% in local currencies) to DKK 2,902 million in the period representing 39% of total revenue
    • Abilify Maintena® sees strong growth reaching DKK 534 million. The growth of 93% (94% in local currencies) was driven by all regions, but particularly by Europe
    • Brintellix®/Trintellix sales grew 103% and reached DKK 482 million, with non-US markets contributing DKK 220 million or 46% of total Brintellix sales
    • Northera® sales reached DKK 449 million, up 203% (201% in local currency)
    • Onfi® continues its solid performance growing 42% (40% in local currency) to DKK 1,128 million
    • Rexulti® was launched in the US in August 2015 and revenue reached DKK 309 million  
  • In the first half of 2016, the EBIT-margin reached 12.7% compared to a negative margin of 67.6% in the same period in 2015. In 2015, EBIT included an impairment loss of DKK 4.8 billion
  • Following the solid performance, Lundbeck now expects revenue of around DKK 14.6-15.0 billion and EBIT is expected to reach DKK 1.5-1.7 billion for 2016 compared to previously DKK 14.2-14.6 billion and DKK 1.3-1.5 billion, respectively

 

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

“I am very pleased with the continued strong sales growth of our key products and the increase of our financial guidance. We are on track to improve our profitability and I am excited about our R&D pipeline.”

 

DKK million H1 2016  H1 2015 Growth
Reported Revenue 7,521 7,192 5%
Reported EBIT 952 (4,865) -
Reported EPS 2.12 (20.26) -
Reported EBIT margin 12.7% (67.6%) -
       
Core Revenue* 7,521 7,192 5%
Core EBIT* 1,475 351 320%
Core EBIT margin* 19.6% 4.9% 300%

*For definition of the measures “Core Revenue” and “Core EBIT”, see note 3 Core reporting

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