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.

* 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 Onfi^TM 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

Posted: May 2011

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