Lundbeck announces the 2016 guidance raised based on solid sales performance and improve profitability

Revenue reached DKK 3,770 million in the first quarter of 2016 representing an increase of 6% both reported and in local currencies compared to the same period last year

 

• Total revenue have delivered a better performance than expected for the quarter primarily driven by key products (Abilify Maintena®, Brintellix®/Trintellix, Northera®, Onfi®, Rexulti®) and Xenazine
• US revenue increased 38% (32% in local currency) to DKK 1,846 million
• Revenue in Europe declined 22% (22% in local currencies) to DKK 747 million
• International Markets declined 5% (increased 4% in local currencies) to DKK 1,096 million

• Revenue from key products grew 108% (103% in local currencies) to DKK 1,352 million in the quarter representing 36% of total revenue

• Abilify Maintena sees strong growth reaching DKK 255 million. The growth of 113% (110% in local currencies) was driven by all regions, but particularly by Europe
• Brintellix/Trintellix sales reached DKK 238 million, with non-US markets contributing DKK 100 million or 42%
• Northera sales reached DKK 199 million, up 371% (346% in local currency)
• Onfi continues its solid performance growing 39% (33% in local currency) to DKK 544 million
• Rexulti was launched in the US in August 2015 and revenue reached DKK 116 million

• In the first quarter of 2016, the EBIT-margin reached 12.8% compared to -0.9% in the same period in 2015

• Following the solid performance, Lundbeck now expects revenue of around DKK 14.2-14.6 billion and EBIT is expected to reach DKK 1.3-1.5 billion for 2016 compared to previously DKK 13.8-14.2 billion and DKK 1.0-1.2 billion, respectively

In connection with the financial report, Lundbeck’s President and CEO, KÃ¥re Schultz said:
“I am very pleased with the progress of our restructuring initiatives which is illustrated by the strong improvement in margins. Furthermore, our sales performance has been strong and our key products continue their solid momentum. We raise our financial guidance for 2016 and are well on track to deliver on our long-term expectations”.