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 beforeFree 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 yearTrintellix 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 depressionOn 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 initiatedThree 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."  

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

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9M-2018_Corporate Release

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