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Nov 7, 2018

Lundbeck realized 12% growth in revenue (local currencies) and 56% growth in EPS in 9M 2018. Guidance for FY2018 raised



Valby, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Financial report for the period 1 January to 30 September 2018

Lundbeck realized 12% growth in revenue (local currencies)
 and 56% growth in EPS in 9M 2018. Guidance for FY2018 raised

HIGHLIGHTS

  • Revenue reached DKK 13,921 million in the first nine months of 2018 representing an increase of 8% (12% in local currencies) compared to the same period in 2017
    • Revenue of Abilify Maintena® increased 18% to DKK 1,180 million (23% in local currencies)
    • Revenue of Brintellix®/Trintellix® increased 28% to DKK 1,543 million (36% in local currencies)
    • Revenue of Northera® increased 7% to DKK 1,282 million (16% in local currency)
    • Revenue of Onfi® increased 20% to DKK 2,669 million (30% in local currency)
    • Revenue of Rexulti® increased 32% to DKK 1,204 million (42% in local currencies)
    • Revenue in North America increased 2% to DKK 8,072 million (10% in local currencies)
    • Revenue in International Markets increased 5% to DKK 2,806 million (13% in local currencies)
    • Revenue in Europe increased 7% to DKK 2,269 million (7% in local currencies)
  • EBIT increased to DKK 4,453 million compared to DKK 3,476 million in the first nine months of 2017 and the EBIT margin reached 32.0% compared to 27.1% in 2017
  • EPS grew 56% to DKK 16.38 in the period compared to DKK 10.49 the year before
  • Free cash flow reached DKK 2,277 million representing an increase of 77%, and the net cash position improved to DKK 5,356 million compared to DKK 2,208 million for the same period last year
  • Trintellix submitted for approval in Japan and new data added to the U.S. labelling for Trintellix demonstrated superiority over escitalopram in improving SSRI-Induced sexual dysfunction in patients with depression
  • On 25 October, it was announced that Lu AF35700 showed similar anti-psychotic effects but not statistical superiority versus conventional therapy on the primary endpoint (change in Total PANSS) in patients with treatment-resistant schizophrenia (TRS). No new trials in TRS will be initiated
  • Three projects have moved into phase I (Lu AF76432, Lu AF28996 and Lu AF82422) and foliglurax has entered the phase II pipeline in the first nine months of the year
  • The financial guidance for 2018 is raised. Lundbeck now expects revenue to reach DKK 17.7 - 18.1 billion and profit from operations (EBIT) to reach DKK 5.1 - 5.4 billion for 2018 compared to previously DKK 17.6 - 18.0 billion and DKK 4.9 - 5.2 billion, respectively

In connection with the financial report, Lundbeck’s President and CEO Deborah Dunsire said:
The continued solid growth in revenue and profitability delivered by the company this year is commendable. Lundbeck remains on track to deliver the best-ever financial results creating the foundation to work to strengthen the pipeline for future growth.”  

DKK million 9M 2018  9M 2017 Growth
Reported Revenue 13,921 12,842 8%
Reported EBIT 4,453 3,476 28%
Reported EPS 16.38 10.49 56%
Reported EBIT margin 32.0% 27.1% -
       
Core Revenue* 13,921 12,842 8%
Core EBIT* 5,227 3,946 32%
Core EPS* 19.96 12.69 57%
Core EBIT margin* 37.5% 30.7% -

       *For definition of the measures “Core Revenue”, “Core EBIT” and “Core EPS”, see note 9 Core reporting

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