2021 saw continued solid growth of our strategic brands, which mitigated the impact from the loss of exclusivity on Northera® in the U.S. early in the year. We also saw continued solid revenue growth in International Markets and in Europe. We continue to make good progress on our Expand and Invest to Grow strategy and revitalizing our pipeline.
9,287
Revenue from strategic brands (DKKm)
2,010
Profit from operations (EBIT) (DKKm)
3,189
Net debt (DKKm)
16,299
Total revenue (DKKm)
1,318
Net profit (DKKm)
3,823
Research and developement costs (DKKm)
Since launching our Expand and Invest to Grow strategy in 2019, we continue to make strong progress, fueled by our purpose, to restore brain health so every person can be their best.
We have taken significant strides to expand our operating space through the acquisitions of Abide and Alder in 2019, which gave us the platforms needed to expand our areas of focus in neuroscience. With the 2020 launch of Vyepti® in the U.S. and the global roll-out which was initiated in 2021, we are beginning to establish a new frontier in migraine prevention and expanding our presence into protein-based therapies. Furthermore, we are continuously expanding our existing portfolio of medicines into new markets.
Our strategic brands continue to show solid growth, both in volume and value, across all regions. At the same time, several of our mature brands have shown remarkable resiliency. Our commercial teams continue to accelerate our efforts in growing our mature and strategic brands across more geographies, thereby maximizing our existing brands to drive growth in the coming years.
We expanded our operating space through the acquisitions of Alder and Abide in 2019, which have given us the platforms needed to expand our areas of focus in neuroscience towards targeted indication groups of niche and rare neurology and psychiatry. Furthermore, we continue to invest in maximizing our strategic brand franchises Brintellix®/Trintellix®, Rexulti®/Rxulti®, Abilify Maintena® and Vyepti®, and we are continuously expanding our existing portfolio of medicines into new markets and additional indications.
The R&D organization is transforming, adopting an agile mindset to enable the team to be more flexible when necessary. In this way, we will more effectively and efficiently rebuild our pipeline with a balance of first-in-class and best-in-class drug candidates, to enable a steady stream of breakthrough and differentiated medicines across all phases of the pipeline.
Safeguarding a consistent level of profitability ensures our ability to make strategic investments in our business. We increase cost efficiency across the organization whenever we can by further leveraging the knowledge and capabilities in our Group Business Services center (GBS) in Poland. We will continue to harness the power of technology and pull digital capabilities into our ways of working to drive greater efficiency. With our current product portfolio and projects in our pipeline it is our ambition to reach an EBIT margin of more than 25% by 2024.
We work as global function teams, building on each other’s strengths and harnessing the full power of our functions and departments across borders for greater outcomes. Working cross-functionally and cross-geographically allows us full clarity and alignment in terms of prioritization and decision making and provides greater opportunity for our people through the transfer of knowledge and talent development. We work in alignment with our priorities and shared purpose, grounded in our beliefs.
2021 marks the second year of Lundbeck’s Sustainability Strategy launched in early 2020. We are already seeing strong progress towards many of our 2030 aspirations, not least due to the foundation laid over decades. We are continuously striving to improve and are steadfast in our commitment to building our business sustainably and are confident we will achieve our long-term goals.
937
Patients estimated to have been reached with our donation partnership in low- and middle-income countries.
99.7%
Employees completed the annual e-learning on the Code of Conduct.
16%
Reduction in scope 1 & 2 carbon emissions vs. 2019 SBTi target baseline.
65%
We outperformed the target to recover and reuse 60% of the organic compounds used in chemical production. Targets are set annually based on expected production volume and mix.
42%
The level of women in management is high with a gender split for people managers globally of 42% women and 58% men.
6.5*
*Frequency of lost time accidents per one million working hours.
We have seen an increase in our accident rate this yearcompared to previous years. Even though a smaller share of theaccidents were serious, we are determined to bend this curve.
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