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Third quarter report 2012: Vortioxetine filed in the US and EU – Revenue from New Products doubled

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H. Lundbeck A/S (Lundbeck) reports revenue of DKK 3,563 million for the third quarter of 2012, excluding Lexapro® in the US, an increase of 2% compared to the same period last year. EBITDA and EBIT were DKK 846 million and DKK 661 million respectively, corresponding to an EBITDA margin of 23.4% and an EBIT margin of 18.2%. Profits were affected by the increase in launch costs associated with Lundbeck’s newer products, as well as the loss of revenue from Lexapro due to generic competition.

  • Lundbeck’s novel multimodal antidepressant, vortioxetine, filed in Europe, Canada and the US - a treatment that may benefit patients with depression who are seeking additional therapeutic options
     
  • New Products* increased 100% and constituted 17% of revenue for the third quarter
     
  • OnfiTM revenue in the US is on track to meet expectations and generated revenue of DKK 174 million for the first nine months of 2012
     
  • Escitalopram in Japan now holds a market share of 6.1% and for the first nine months generated a royalty of DKK 133 million
     
  • Third quarter revenue in the US, excluding Lexapro, increased 44%
     
  • Treanda® launched in Canada, and Azilect® launched in Thailand, Hong Kong and Australia
     
  • Lundbeck is on track to meet financial expectations for 2012
     

Distribution of revenue

DKK million Q3 2012 Q3 2011 Growth Growth
 in local
 currency
New Products* 611 305 100% 78%
         
Cipralex 1,399 1,456 (4%) (4%)
Ebixa 667 707 (6%) (5%)
Azilect 328 301 9% 10%
Xenazine 317 193 64% 45%
         
Europe 1,891 1,934 (2%) (3%)
USA (excl. Lexapro) 593 411 44% 28%
International Markets 902 901 0% (1%)
         
Total revenue 3,617 3,975 (9%) (10%)

*New Products include Xenazine, Sabril, Sycrest, Lexapro (Japan), Onfi and Treanda

In connection with the third quarter report, Lundbeck’s President and CEO Ulf Wiinberg said:
 “We are now one step closer to the launch of our novel antidepressant, vortioxetine, following the filing in Europe, Canada and the very important US market. I am also very pleased with the strategic progress of our new product launches and our geographic expansion.”

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