Denmark-based pharmaceutical company Lundbeck A/S (OTCMKTS: HLUBF) has released its financial report for the first quarter of 2023, highlighting an 11% year-on-year (YOY) increase in global sales revenues in constant exchange rate terms, reaching DKK 5.044 billion (USD 731.2 million). This figure marks the highest quarterly revenue in the company’s history.
Strong Performance of Strategic Brands
Strategic brands at Lundbeck continue to perform well globally, with sales increasing by 19% to DKK 3.273 billion, representing 65% of the total revenue. International market sales also saw a 3% YOY increase, amounting to DKK 1.499 billion. The most significant markets for Lundbeck include China, Canada, Brazil, Saudi Arabia, and Australia, with the Chinese and Japanese markets combined accounting for approximately 31% of international market revenues.
Antidepressant and Migraine Therapy Sales Growth
Antidepressant Brintellix/Trintellix (vortioxetine) contributed DKK 1.077 billion in revenue during the period, marking a 7% YOY increase and accounting for 34% of international sales. Vyepti (eptinezumab), approved for 45 markets since its US listing in April 2020, generated DKK 351 million in sales, up 97% YOY. The migraine therapy is expected to obtain an additional 10 market approvals this year.
Lundbeck’s Outlook for 2023 and New Drug Approvals
Lundbeck anticipates a stable performance for 2023, with a continued focus on strategic brands. In April, the company received approval for Abilify Asimtufii (aripiprazole), an extended-release injectable suspension for intramuscular use given to patients once every two months, for the treatment of schizophrenia in adults or for maintenance monotherapy treatment of bipolar I disorder in adults. Additionally, Lundbeck and its partner Otsuka are awaiting a supplemental New Drug Application (sNDA) approval for the antipsychotic drug Rexulto (brexpiprazole) in the US as a treatment for agitation associated with dementia due to Alzheimer’s disease, following a positive recent US FDA Advisory Committee meeting.-Fineline Info & Tech
