Lundbeck increased operating profit (EBIT) with 126% and EPS by 182% in the first nine months of 2017

Valby, Denmark, 2017-11-08 07:45 CET (GLOBE NEWSWIRE) --  

HIGHLIGHTS

• Revenue reached DKK 12,842 million in the first nine months of 2017 representing an increase of 12% (13% in local currencies) compared to the same period last year
  • Revenue of Abilify Maintena^® increased by 24% to DKK 995 million (24% in local currencies)
  • Revenue of Brintellix^®/Trintellix^® increased by 55% to DKK 1,195 million (54% in local currencies)
  • Revenue of Northera^® increased by 54% to DKK 1,188 million (55% in local currency)
  • Revenue of Onfi^® increased by 25% to DKK 2,215 million (25% in local currency)
  • Revenue of Rexulti^® increased by 64% to DKK 911 million (65% in local currencies)
  • Revenue in North America increased by 20% to DKK 7,876 million (20% in local currencies)
  • Revenue in International Markets increased by 6% to DKK 2,614 million (9% in local currencies)
  • Revenue in Europe decreased by 3% to DKK 2,130 million (3% decline in local currencies)  
• EBIT improved significantly reaching DKK 3,476 million from DKK 1,541 million in the same period last year and the EBIT margin reached 27.1% compared to an EBIT margin of 13.4% the year before
• EPS grew 182% in the period to DKK 10.50 compared to DKK 3.73 in the same period last year
• The free cash flow reached DKK 1,289 million and the net cash position has improved to DKK 2,208 million compared to net debt of DKK 575 million at the end of the third quarter of 2016
• Lundbeck now expects revenue to reach DKK 16.9-17.4 billion and EBIT to reach DKK 4.3-4.6 billion for 2017 compared to previously DKK 16.7-17.5 billion and DKK 4.1-4.5 billion, respectively. The gain of DKK 242 million from the divestiture of properties is included in the financial guidance and is recognized as Other operating income

In connection with the financial report, Lundbeck's CFO and interim CEO, Anders Götzsche said:

"Lundbeck continues the strong growth and we continue to see improvements in the company's profitability and we are on track to deliver the best ever financial result for the company. Lundbeck continues to focus on advancing the pipeline to bring innovative medications to patients worldwide."

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

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