H. Lundbeck A — Earnings Release 2016

Aug 24, 2016

Valby, Denmark, 2016-08-24 07:51 CEST (GLOBE NEWSWIRE) -- HIGHLIGHTS

-- Revenue reached DKK 7,521 million in the first half of 2016 representing an
increase of 5% in both reported and local currencies compared to the same
period last year
-- Total revenue has delivered a better performance than expected driven by
Xenazine® and key products
-- US revenue increased 33% (31% in local currency) to DKK 3,840 million
-- Revenue in International Markets declined 5% (unchanged in local
currencies) to DKK 2,033 million
-- Europe declined 26% (25% in local currencies) to DKK 1,453 million
-- Revenue from key products grew 99% (99% in local currencies) to DKK 2,902
million in the period representing 39% of total revenue
-- Abilify Maintena® sees strong growth reaching DKK 534 million. The
growth of 93% (94% in local currencies) was driven by all regions, but
particularly by Europe
-- Brintellix®/Trintellix sales grew 103% and reached DKK 482 million, with
non-US markets contributing DKK 220 million or 46% of total Brintellix
sales
-- Northera® sales reached DKK 449 million, up 203% (201% in local
currency)
-- Onfi® continues its solid performance growing 42% (40% in local
currency) to DKK 1,128 million
-- Rexulti® was launched in the US in August 2015 and revenue reached DKK
309 million
-- In the first half of 2016, the EBIT-margin reached 12.7% compared to a
negative margin of 67.6% in the same period in 2015. In 2015, EBIT included
an impairment loss of DKK 4.8 billion
-- Following the solid performance, Lundbeck now expects revenue of around DKK
14.6-15.0 billion and EBIT is expected to reach DKK 1.5-1.7 billion for
2016 compared to previously DKK 14.2-14.6 billion and DKK 1.3-1.5 billion,
respectively

In connection with the financial report, Lundbeck’s President and CEO, Kåre
Schultz said:

“I am very pleased with the continued strong sales growth of our key products
and the increase of our financial guidance. We are on track to improve our
profitability and I am excited about our R&D pipeline.”

DKK million H1 2016 H1 2015 Growth

---

Reported Revenue 7,521 7,192 5%
Reported EBIT 952 (4,865) -
Reported EPS 2.12 (20.26) -
Reported EBIT margin 12.7% (67.6%) -

Core Revenue 7,521 7,192 5%
Core EBIT 1,475 351 320%
Core EBIT margin* 19.6% 4.9% 300%

*For definition of the measures “Core Revenue” and “Core EBIT”, see note 3 Core
reporting