Lundbeck reports 18% revenue growth in third quarter
Danish biopharma company Lundbeck (CPH: LUN) posted a robust 18% revenue increase in the third quarter of 2024, reaching 5.7 billion Danish kroner ($815 million). Earnings per share rose to 0.78 kroner, marking a 15% year-on-year improvement, while adjusted earnings per share increased by 11%.
Growth was bolstered by strategic brands, which contributed to 75% of quarterly revenue. Key drivers included a significant 74% growth for Vyepti (eptinezumab), alongside solid performance from Rexulti (brexpiprazole) and Brintellix (vortioxetine), particularly in the USA.
On the down side, performance of mature brands softened, declining by 7% due to generic competition.
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