Interim report
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Corporate Release Valby , Denmark , November 10 , 2021 Financial report for the period January 1 to September 30 , 2021 Lundbeck continues solid operational performance with strong growth from strategic brands in Q3 2021 HIGHLIGHTS Revenue reached DKK 12,246 million in the first nine months of 2021 , a decline of 5 % in local currencies primarily due to loss of exclusivity erosion on NortheraⓇ . EBIT grew 29 % compared to the same period in 2020 and reached DKK 2,004 million . EBIT margin reached 16.4 % . EPS grew by 28 % for the period , reaching DKK 6.64 . In aggregate , strategic brands grew 17 % in local currencies reaching DKK 6,815 million in the first nine months of the year , representing 56 % of total revenue . In the third quarter of 2021 , all strategic brands have continued their double - digit growth . Based on trends in Trintellix and Rexulti in the U.S. , there is a gradual uptick in new patient starts as the pandemic wanes , further supporting positive growth . The newest product in the portfolio , Vyepti® , continues to grow strongly since its launch in April 2020 , reaching DKK 328 million in the first nine months of 2021 compared to DKK 42 million for the same period last year . Vyepti is approved in seven markets , commercially launched in two markets and regulatory review is ongoing in 14 markets including Europe . Strategic brand performance : Revenue of Abilify MaintenaⓇ : DKK 1,810 million ( up 7 % in local currencies , 5 % reported ) Revenue of Brintellix® / Trintellix® : DKK 2,565 million ( up 16 % in local currencies , 11 % reported ) Revenue of RexultiⓇ / Rxulti® : DKK 2,112 million ( up 13 % in local currencies , 5 % reported ) Revenue of VyeptiⓇ : DKK 328 million ( up 731 % in local currencies , 681 % reported ) Market performance : Revenue in North America : DKK 6,068 million ( down 12 % in local currencies , 17 % reported ) Revenue in International Markets : DKK 3,281 million ( up 5 % in local currencies , 1 % reported ) Revenue in Europe : DKK 2,608 million ( up 4 % in local currencies , 4 % reported ) In connection with the financial report , Lundbeck's President and CEO Deborah Dunsire said : " I am very pleased with the results for the first nine months of the year . Our brands are continuing to perform well across all markets and delivering solid growth and Vyepti continues to have good uptake . Our transformed approach to R & D is showing results , with an expanding early- and mid - stage pipeline . The recent addition of an early stage CD40L inhibitor into our early - stage portfolio gives us a promising start to further develop our neuroimmunology platform . I see a strong future ahead of us . " Key figures : DKK million Core Revenue * Core EBIT * Core EPS * Core EBIT margin * Reported Revenue Reported EBIT Reported EPS 9M 2021 12,246 2,973 10.48 24.3 % 12,246 2,004 6.64 16.4 % Lundbeck 9M 2020 13,397 3,644 14.60 27.2 % Reported EBIT margin * For definition of the measures " Core Revenue " , " Core EBIT " , " Core EBIT margin " and " Core EPS " , see note 5 ● Core reporting 13,397 1,559 5.17 11.6 % H. Lundbeck A / S Investor Relations The phase IIIb DELIVER - study with Vyepti , in patients with migraine that failed 2-4 prior treatments , met its primary endpoint of change from baseline in the number of monthly migraine days ( MMDs ) , and also significantly more patients treated with Vyepti vs placebo had a 50 % , or greater , reduction in MMDs . Lundbeck has initiated a phase II PoC study for potential new treatment of multiple system atrophy ( MSA ) with Lu AF82422 , which represents a novel approach for potential treatment of MSA , a condition with a high and urgent unmet medical need . Ottiliavej 9 DK - 2500 Valby Copenhagen Growth ( 9 % ) ( 18 % ) ( 28 % ) Lundbeck has received exclusive , worldwide rights to APB - A1 ( now Lu AG22515 ) , a differentiated anti - CD40 ligand ( CD40L ) antibody , ready for phase I testing in the beginning of 2022 . ( 9 % ) 29 % 28 % Core EBIT reached DKK 2,973 million and Core EBIT margin reached 24.3 % . Profitability is benefitting from COVID - 19 related cost avoidance but is also negatively impacted by Northera erosion on the revenue side . The financial guidance for 2021 is maintained . Lundbeck expects revenue to reach DKK 16.3 16.6 billion . Core EBIT is expected to reach DKK 3.3 3.6 billion and EBIT to reach DKK 2.0 2.3 billion . Phone : +45 36 30 13 11 www.lundbeck.com CVR - nr .: 56759913 LEI code : 5493006R4KC2015D3470