H. Lundbeck A — Earnings Release 2013

Feb 6, 2014

Valby, Denmark, 6 February 2014 - H. Lundbeck A/S (Lundbeck) announces its
financial results for 2013, which are in line with the revised expectations
communicated in the third quarter. Revenue for 2013 was DKK 15,258 million, an
increase of 3% compared with 2012. Growth was driven by Lundbeck’s New
Products, which generated revenue of DKK 3,096 million. Revenue was impacted by
the reduced Ebixa® revenue in Europe, following the anticipated generic
erosion. Reported EBIT for 2013 was DKK 1,599 million. This corresponds to an
EBIT margin of 10.5% for the year.

-- Lundbeck achieved five product approvals in 2013, Brintellix
®
and Abilify Maintena® in the US and Europe and Selincro® in Europe

-- Revenue from the US, excluding Lexapro, increased 22% and International
Markets grew by 8% compared with 2012

-- Revenue from New Products was DKK 3,096 million an increase of 45%,
constituting 20% of revenue compared with 14% in 2012

-- Net profit amounted to DKK 855 million. The Board of Directors proposes to
pay a dividend of DKK 2.77 per share

-- 2014 will be a year with an unusual number of variables which increases
uncertainty. Financial guidance for 2014 is around DKK 13.5 billion in
revenue and DKK 0.5-1.0 billion in EBIT

Distribution of revenue

DKK million Q4 Q4 Growth Growth FY FY Growth Growth
2013 2012 in 2013 2012 in
local local
currenc currenc
y y
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New Products* 904 582 55% 66% 3,096 2,141 45% 51%
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Cipralex® 1,421 1,501 (5%) (1%) 5,933 5,827 2% 3%
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Azilect® 346 326 6% 8% 1,392 1,224 14% 13%
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Xenazine® 387 322 20% 26% 1,420 1,197 19% 22%
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Sabril® 134 78 72% 80% 530 376 41% 45%
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Onfi® 206 80 156% 168% 573 255 125% 132%
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Europe 1,552 1,960 (21%) (20%) 7,064 7,734 (9%) (9%)
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US (excl. 753 556 36% 42% 2,571 2,099 22% 26%
Lexapro)
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International 944 966 (2%) 7% 4,075 3,768 8% 12%
Markets
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Total revenue 3,587 3,845 (7%) (3%) 15,258 14,802 3% 4%
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*New Products include Xenazine, Sabril, Sycrest, Lexapro (Japan), Onfi,
Treanda, Selincro, Abilify Maintena and Brintellix

In connection with the full year report, Lundbeck’s President and CEO Ulf
Wiinberg said:
"2013 was a very successful year for Lundbeck in every sense. Our strategic
products are still growing and we have had five key approvals. Both 2014 and
2015 will be heavy investment years with launch of products like Brintellix and
Abilify Maintena all contributing to growth beyond 2015”.