Revenue and earnings
Exclusive of non-recurring items:

• Revenue: DKK 10,565 million (+17%)
• Profit from operations (EBIT): DKK 2,657 million (+63%)
• EBIT margin: 25.1%

Including non-recurring items:

• Revenue: DKK 10,985 million (+19%)
• Profit from operations (EBIT): DKK 2,695 million (+51%)
• EBIT margin: 24.5%

Revenue by regions and products

• Europe: DKK 5,501 million (+7%)
• International Markets: DKK 2,194 million (+22%)
• USA: DKK 2,599 million (+35%)
   
• Cipralex^®: DKK 4,094 million (+17%)
• Lexapro^®: DKK 2,594 million (+35%)
• Ebixa^®: DKK 1,655 million (+22%)
• Azilect^®: DKK 168 million (+136%)

*) Growth relative to 2006

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Annual report 2007

• Lundbeck’s total revenue amounted to DKK 9,221 million in 2006, corresponding to an increase of 2%.
• Revenue derived from Europe amounted to DKK 5,537 million, a 9% increase on 2005. Revenue from International Markets amounted to DKK 1,379 million, a 21% increase.
• Revenue from the USA amounted to DKK 1,930 million, a decline of 26%, due to lower supplies of bulk escitalopram to Forest as part of Forest’s reduction of in-house escitalopram inventories. At 31 December 2006, the inventory reduction had been completed, and inventory levels corresponded to approximately 9 months of commercial supply.
• Sales of Cipralex® (depression) rose by 34% to DKK 3,508 million, and sales of Ebixa® (Alzheimer’s disease) increased by 23% to DKK 1,361 million. Income from Lexapro® (depression) in the USA amounted to DKK 1,923 million, which was 25% less than in 2005 due to Forest’s inventory reduction. However, actual sales of Lexapro® in the US market were up by 13% in 2006.
• Revenue from Lundbeck’s two most recently launched pharmaceuticals Azilect® (Parkinson’s disease) and Serdolect® (schizophrenia) amounted to DKK 71 million and DKK 10 million respectively. 
• Lundbeck’s combined costs increased by 8% to DKK 7,437 million. Research and development expenses increased by 10% and amounted to DKK 1.958 million corresponding to 21.2% of Group revenue. Distribution and administration expenses increased by 5% and amounted to DKK 3.838 million.
• Profit from operations was DKK 1,784 million, which translates into an EBIT margin of 19.3%. Exclusive of the income from the IPO of LifeCycle Pharma, profit from operations was DKK 1,629 million, which was consistent with the company’s profit guidance provided at the beginning of the year.
• Net profit for the year amounted to DKK 1,107 million, down 30% compared with 2005. The decline was due to Forest’s reduction of in-house escitalopram inventories.
• Cash flows from operating and investing activities (free cash flow) amounted to DKK 624 million.
• In connection with share buyback programmes, Lundbeck acquired treasury shares for a total amount of DKK 1,591 million in 2006.
• The Supervisory Board proposes to pay dividend for 2006 of 30% of the net profit for the year to shareholders of the parent company, corresponding to DKK 1.57 per share.
  

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Annual report 2006

• Lundbeck’s revenue amounted to DKK 9,070 million in 2005, a decrease of 4% measured in local currencies and a decline of 7% measured in Danish kroner relative to 2004.
• Revenue derived from Europe amounted to DKK 5,076 million, a 11% increase over last year. Revenue from the USA amounted to DKK 2,618 million, a 23% decline. Revenue from International Markets amounted to DKK 1,143 million, a 3% increase.
• Sales of Lundbeck’s new products (Cipralex®/Lexapro®, Ebixa® and Azilect®) amounted to DKK 6,288 million, corresponding to 69% of total revenue in 2005.
• Lundbeck’s combined costs fell by 4% to DKK 6,900 million.
• Profit from operations was DKK 2,170 million, a 15% decline relative to 2004. The net profit ratio was 23.9%.
• Cash flows from operating and investing activities (free cash flow) amounted to DKK 1,437 million.
• In connection with share buyback programmes, Lundbeck acquired treasury shares for a total amount of DKK 1,227 million in 2005.
• The Supervisory Board proposes to pay dividend for 2005 of 30% of the net profit for the year, corresponding to DKK 2.10 per share to shareholders of the parent company.
• In 2005 Lundbeck received the marketing approval for two new pharmaceuticals – Azilect® and Serdolect® – and strengthened the pipeline with two new development candidates – Lu AA24530 and desmoteplase.

 

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Annual report 2005

• Lundbeck’s revenue amounted to DKK 9,733 million in 2004, an increase of 9% measured in local currencies and a decline of 2% measured in Danish kroner relative to 2003.
• Sales of Lundbeck’s new products (Cipralex®/Lexapro® and Ebixa®) amounted to DKK 4,803 million, corresponding to 52% of total revenue in 2004 (excluding the DKK 421 million payment from Merck & Co., Inc. in Q1 2004) and 61% in the fourth quarter.
• Lundbeck’s combined costs fell by 8% to DKK 7,158 million.
• Profit from operations was DKK 2,575 million, an increase of 21%. Adjusted for the Merck payment, profit from operations rose 1%.
• Cash flows from operating and investing activities (free cash flow) amounted to DKK 2,434 million.
• The company forecast a profit from operations of approximately DKK 2.2 billion in 2005.
• For 2006 and 2007, Lundbeck forecast a yearly growth in profit from operations of more than 12% - and the company’s net profit ratio is expected to reach 25% in 2007.

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Annual report 2004 .

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Annual report 2003 .

Lundbeck experienced a successful but challenging year in 2002. In 2002, Lundbeck continued recent years’ positive trend, posting a 24% increase in revenue to DKK 9,488 million, and the Group achieved its bestever profit from operations with a 29% increase to DKK 2,361 million.

• Cipramil® DKK 5,187 million (up 14%), Cipralex® DKK 78 million, Celexa^TMDKK 2,378 million (up 44%), Lexapro^TM DKK 777 million, Ebixa^TM DKK 29 million
• Profit from operations up 29% to DKK 2,361 million
• Net financials represented an expense of DKK 286 million.
• Profit before tax up 9% to DKK 2,075 million. Profit after tax down 3% to DKK 1,269 million.
• Revenue forecast to rise by about 10% and profit from operations by about 12% in 2003

 

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Annual report 2002

Lundbeck has had a very satisfactory year, the Group achieving its best-ever financial results. Both revenue and earnings exceeded the expectations expressed by the management in the 2000 financial statements and are in line with those expressed at the presentation of the company's interim report on 14 August 2001.

Lundbecks revenue in 2001 was DKK 7.656 million, up 36% on 2000. The increase was driven by the continued growth in sales of citalopram in Europe, Canada and Australia and in the USA in particular where citalopram is marketed by Forest Laboratories, Inc.

In 2001, Lundbeck increased its market share in many of the Group's most important markets. The sales and marketing efforts in 2001 were considerably strengthened, particurlarly in the major European markets and in Canada and Australia.

 

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Annual report 2001    (PDF, 2.0 MB)

2000 was a very satisfactory year for H. Lundbeck A/S.

In the year 2000 the company achieved its best ever result. Thanks to continued strong growth in sales of citalopram in Europe and the US, revenue rose by 41% to DKK 5.6 billion. The profit before tax amounted to DKK 1.4 billion up 54% on 1999.

Lundbeck s research was considerably strengthened in 2000, partly through the appointment of highly qualified research scientists and partly through the establishment of new technological and research specialities. Today, Lundbeck has its strongest ever pipeline.

Lundbeck continues winning market shares, particularly in the big European markets, where the Group has enlarged its sales force quite considerably. However, newer markets, such as Australia and Canada, are also making a substantial contribution to both turnover and earnings.

 

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Annual report 2000

1999 was both an eventful and a successful year for H. Lundbeck A/S.

The year's biggest event was the flotation of the company on the Copenhagen Stock Exchange on 18 June, which was also the culmination of many months hard work. The listing has improved the company's possibility of continuing the strong growth achieved in the last few years and strengthened Lundbeck's profile both at home and internationally.

During the year, Lundbeck invested heavily in its research capability. About 100 new, highly qualified employees joined the Research and Development departments. Research spending increased by 32% and accounted for more than 20% of the year s turnover, which is above the average for the pharmaceutical industry.

 

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Annual report 1999

The Group achieved its first-ever approval in the USA for a product preparation in 1998. In co-operation with Forest Laboratories, our strategic partner in the USA, we achieved the approval of US Food and Drug Administration (FDA) for Cipramil. The preparation is being marketed in the USA under the name Celexa.

In a very surprising move, the Dutch authorities decided in November to suspend marketing permission for Lundbeck's antipsychotic drug Serdolect. The Dutch initiative led to several other European countries following suit, and on 26 November Lundbeck decided to withdraw Serdolect temporarily in all countries in order to give the European health authorities time to analyse the many scientific studies and reports on Serdolect prepared by international, independent experts cardiologist, epidemiologist and psychiatrists.

 

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Annual report 1998

Important events in 1997:

• Application for the registration of Cipramil/Seropram in the USA was filed in May, in collaboration with Forest Laboratories, Inc.
• Application was filed in December for registration of Serdolect/Serlect in Sweden, France and a number of countries in Central and Eastern Europe.
• Authorisation to market Cipramil/Seropram for treating panic disorders was obtained in Denmark, Finland, Estonia, Czech Republic, UK, France, Norway, Belgium and Italy.

 

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Annual report 1997

In 1996, Cipramil/ Seropram was marketed in six new countries, including Germany, Spain and Ireland. In all, it has now been registered in 49 countries.

1996 was also the year in which Serdolect/Serlect was approved for marketing in 13 EU countries after a record-breaking development time of only six years. Serdolect/Serlect belongs to the new generation of antipsychotic drugs, which have fewer side-effects than the classic antipsychotic drugs on the market. Serdolect/Serlect will be given a broad launch in 1997.

 

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Annual report 1996