Denmark-based pharmaceutical company H. Lundbeck A/S (OTCMKTS: HLBBF) has revealed its financial results for the third quarter and the first three quarters of 2024. For the three-month period, revenues increased by 18% year-on-year (YOY) in constant currency terms to DKK 5.722 billion (USD 805 million). Over the nine-month period, sales rose by 13% YOY to DKK 16.463 billion (USD 2.315 billion).
Strategic Brands Drive Growth
Lundbeck’s strategic brands were instrumental in driving this growth, generating DKK 12.116 billion (USD 1.704 billion) in sales, marking a 21% YOY increase. Notable performances include:
- Rexulti/Rxulti (brexpiprazole), a serotonin-dopamine activity modulator for major depressive disorder and schizophrenia, which expanded by 16% over the 9-month period to DKK 3.806 billion (USD 531.7 million).
- Brintellix/Trintellix (vortioxetine), an anti-depressant, saw a 14% growth to DKK 3.576 billion (USD 499.6 million).
- Abilify Maintena/Asimtufii (aripiprazole), an antipsychotic drug, grew by 10% to DKK 2.618 billion (USD 365.8 million).
- Vyepti (eptinezumab), a migraine medication, soared by 76% YOY to DKK 2.116 billion (USD 295.6 million).
Geographic Market Performance
Geographically, the US and Europe were the primary sources of growth, with sales up 14% and 12% YOY, respectively, reaching DKK 8.342 billion (USD 1.17 billion) and DKK 3.815 billion (USD 533 million). International Markets rose by 9% YOY to DKK 4.062 billion (USD 567.5 million), with China and Canada contributing to 43% of this growth.
Generic Pressure on Certain Drugs
However, Lundbeck noted that several drugs are under pressure due to generic competition, including Lexapro (escitalopram) in Japan and Deanxit (flupenthixol, melitracen) in China, which may impact future revenue growth.-Fineline Info & Tech
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