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First quarter report 2011 - Lundbeck is off to a good start in 2011 as key products maintain momentum

H. Lundbeck A/S (Lundbeck) reports first quarter revenue of DKK 4,103 million growing 7% compared to the same period last year. The increase was driven by positive development in all key products. Profit from operations was DKK 1,305 million, increasing 4% and corresponding to an EBIT margin of 31.8%.

  • Continued solid growth in the key products Cipralex®, Ebixa® and Azilect®, growing 6%, 12% and 15% respectively.
     
  • Revenue from Xenazine® was DKK 208 million and increased 74%.
     
  • Sabril® sales increased 123% to DKK 75 million.
     
  • Operating profit before depreciation and amortisation (EBITDA) was DKK 1,540 million, increasing 4% and corresponding to an EBITDA margin of 37.5%.
     
  • Net profit was DKK 930 million, corresponding to earnings per share (EPS) of DKK 4.74.
     
  • With the solid results for the quarter Lundbeck is on the way to deliver the financial guidance for 2011.

 

 

Distribution of revenue

Q1 2011

Q1 2010

 

Growth

DKKm

DKKm

Growth

at CER*

 

Cipralex®

1,537

1,454

6%

3%

Lexapro®

741

727

2%

8%

Ebixa®

687

611

12%

11%

Azilect®

278

240

15%

15%

Xenazine®

208

119

74%

71%

Sabril®

75

34

123%

120%

 

 

 

 

 

Europe

2,056

1,982

4%

2%

USA

1,131

1,044

8%

12%

International Markets

877

734

19%

14%

 

 

 

 

 

Total revenue

4,103

3,849

7%

6%

* Constant exchange rates

 

In connection with the first quarter report, Lundbeck's President and CEO Ulf Wiinberg said:
 "It has been a good first quarter and several positive pipeline events have improved our long-term outlook. In the beginning of the quarter our filing of OnfiTM in the US was accepted by the FDA and recently Lexapro® was approved in Japan, opening up the way for a launch in the second half of the year. We are looking forward to being able to offer this treatment option in Japan."

Financial highlights and key figures

 

2011

2010

2010

 

Q1

Q1

FY

 

 

 

 

Financial highlights (DKK million)

 

 

 

Revenue

 4,103

 3,849

 14,765

     

Posted: May 2011


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