H Lundbeck A/S
CSE:HLUN A
H Lundbeck A/S
Founded in 1915 by Hans Lundbeck, H. Lundbeck A/S has grown from a small trading company into a notable player within the pharmaceutical industry, specializing in the treatment of brain diseases. Over the decades, the company honed its focus on neuroscience, particularly targeting mental health disorders. This specialization has allowed Lundbeck to establish a strong presence in the therapeutic areas of depression, schizophrenia, Alzheimer's, and Parkinson's diseases. The company's operations are grounded in a rigorous commitment to research and development, constantly seeking breakthroughs that can transform mental health treatment. A significant portion of its revenue is channeled back into R&D to maintain its pipeline of innovative pharmaceuticals, ensuring a future driven by new drug discoveries that align with patient needs.
Lundbeck’s revenue streams primarily stem from its portfolio of prescription medicines, marketed globally across numerous countries. The company capitalizes particularly on a few blockbuster drugs, forming strategic alliances and partnerships to expand its reach and efficacy. Through a robust distribution network, Lundbeck effectively channels its products from manufacturing through to consumers, including hospitals and pharmacies. Moreover, the company benefits from strategic collaborations with other pharmaceutical giants, enhancing its footprint in competitive markets. By continually investing in cutting-edge research and leveraging strategic partnerships, Lundbeck maintains its mission of delivering effective central nervous system therapies, ensuring a sustainable growth trajectory.
Revenue Growth: Lundbeck reported 13% revenue growth for the first 9 months of 2024, driven largely by strong performance of its strategic brands.
Strategic Brands: Strategic brands grew 21%, now accounting for 74% of total revenue. Vyepti and Rexulti were top performers.
Vyepti Strength: Vyepti net revenue jumped 76% year-on-year globally, with notable acceleration in the US and increasing ex-US contributions.
Raising Guidance: Management raised the lower end of full-year 2024 guidance, now expecting 12-14% revenue growth and 17-20% adjusted EBITDA growth at constant exchange rates.
Pipeline Progress: Key pipeline advances included positive results from the SUNRISE trial for Vyepti in Asia and movement of amlenetug and bexicaserin into late-stage trials.
Profitability: Adjusted EBITDA rose 12% (margin 31.6%) despite cost pressures, and net profit increased 18% to DKK 2.6 billion.
Cash Position: Ended Q3 with net cash of DKK 4 billion, a significant improvement from net debt a year ago, ahead of the Longboard acquisition.
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