News Column

New Products up 40% and Q1 provides a solid base for the remainder of the year

May 6, 2014

Valby, Copenhagen, 2014-05-07 07:46 CEST (GLOBE NEWSWIRE) -- HIGHLIGHTS -- New Products revenue reached DKK 887 million and has a 25% share of the total revenue -- Brintellix® has demonstrated a good volume uptake since the launch in January 2014. Feedback from physicians has been very positive and around 8,000 physicians have so far prescribed Brintellix to around 20,000 patients -- US revenue increased by 40% to DKK 744 million in local currency as Xenazine®, Sabril® and Onfi® continue to show solid growth, increasing 20%, 37% and 83% respectively in local currency -- Revenue from International Markets increased 8% in local currency largely driven by markets such as Canada and Japan -- Abilify Maintena® has been launched in the first European countries and market access processes are proceeding according to plan -- In 2014, Lundbeck is expected to announce important pipeline updates on late-stage projects like desmoteplase, brexpiprazole and Brintellix -- Lundbeck is implementing core earnings as an improved tool to measure our operational performance and in a quarter with considerable generic erosion and investments in product launches the core EBIT margin only showed a modest decline of 4 percentage points to 20% -- The financial guidance for 2014 provided on 6 February 2014 is maintained In connection with the first quarter report, Lundbeck’s President and CEO Ulf Wiinberg said: “In this quarter we have launched Brintellix in the US and even though it is early days, we are pleased with the launch of this product. 2014 is a heavy investment year for Lundbeck in order to position the company for long-term growth. This quarter provides a solid and important base for the remainder of the year, which will be heavily impacted by increased generic pressure, intensified launch costs and new development activities”. DKK million Q1 2014 Q1 2013 Growth ---------------------------------------------- Core Revenue* 3,587 3,838 (7%) Core EBIT* 729 921 (21%) Core EPS* 2.25 3.39 (34%) Core EBIT margin 20% 24% (15%) Reported Revenue 3,587 4,576 (22%) Reported EBIT 569 1,526 (63%) Reported EPS 1.69 5.44 (69%) Reported EBIT margin 16% 33% (52%) *For definition of the measures “Core Revenue”, “Core EBIT” and ”Core EPS”, see page 13 and reconciliation to reported, see page 20 Copyright © 2014 OMX AB (publ).

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Source: OMX

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