Lundbeck raises financial guidance following strong growth

Denmark-based CNS specialist Lundbeck (LUND: CO) today reported financial results for the first six month of 2024, showing that total revenue rose 10% (+8% at constant exchange rates) to 10,741 million kroner ($1.58 billion), with all regions contributing to growth.

Lundbeck’s shares were up almost 5% at 45.10 kroner by late morning.

Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) increased to 3,365 million kroner (+5% CER) reflecting the strong revenue growth across all strategic brands. Adjusted EBITDA margin reached 31.3% equivalent to a decrease of 2.1 percentage points due to higher raw material and manufacturing costs, increasing share of Vyepti (eptinezumab) on cost of sales as well as unfavorable currency and hedging effects. Adjusted earnings per share (EPS) grew 7%, reaching 2.64 kroner.