BRIEF⁠—Lundbeck raises 2022 financial guidance

Danish CNS specialist Lundbeck has announced that its financial guidance range for 2022 has been raised.

The range for revenue has been raised from the previous $2.30 billion to $2.38 billion, to $2.36 billion to $2.45 billion, driven by strong underlying positive momentum of the company's strategic brands. The appreciation of Lundbeck’s main currencies, especially the US dollar, in the first half of 2022, has also contributed to the increase.

Lundbeck has also raised financial guidance for its earnings before interest, taxes, depreciation and amortization (EBITDA), going from $550 million to $600 milion to $580 million to $620 million. The company expects profitability to be impacted by increased hedging offsets as well as the investment in acceleration and global launch of Vyepti (eptinezumab-jjmr), the first US Food and Drug Administration-approved intravenous treatment for migraine prevention.