Received five approvals from US and European regulators
Danish pharmaceutical firm Lundbeck says 2013 was a 'very successful year'. Excluding a fine of €93.8m imposed by the European Commission over anti-competitive practices, the firm said the results were better for both revenue and operating profit than expected.
Revenue for 2013 was €2.04bn (DKK15.25bn), an increase of 3% over 2012. Growth was driven by new products, which generated total revenue of DKK3.1bn (+45%), more than what was lost due to the expiry of the Lexapro patent, for the treatment of anxiety and major depressive disorder, in the US. EBIT for 2013 was DKK1.6bn. Net profit amounted to DKK855m.
The firm reported that most of its existing products continued to perform strongly and it received five approvals in 2013, for antidepressant Brintellix and schizophrenia treatment Abilify Maintena in the US and Europe and Selincro, for treating alcoholism, in Europe.
Lundbeck said it was 'very pleased with this result considering the patent expiry of Alzheimer's drug Ebixa in Europe and the divestment of our mature product portfolio in the US'.
The firm said it would continue to expand its product portfolio as some of the long-standing products start to mature and face competition from generics. The firm said its priorities are the successful launch of new products, and the continued development of its product pipeline and partnerships. The firm has formed successful alliances with Otsuka on a number of projects (Abilify Maintena and Selincro) and with Takeda (Brintellix), as well as with Mochida and Mitsubishi Tanabe Pharma on the commercialisation of Lexapro in Japan.