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Lundbeck remains strong

Danish firm posts healthy sales for second quarter as it awaits FDA approval for Sabril

Lundbeck has reported second-quarter revenue of DKK 3.4bn (at a constant exchange rate), an increase of 18 per cent compared to the same reporting period last year. Operating profit for the quarter before depreciation and amortisation was DKK 872m.

The Danish company's key products, Cipralex (escitalopram oxalate), Ebixa (memantine) and Azilect (rasagiline) all enjoyed double digit growth and continue to gain market share in their respective therapy areas.

Sales at the company's US arm rose of DKK 400m buoyed by the strong performance of Xenazine (tetrabenazine), a treatment of Huntington's Chorea, which contributed DKK 81m to overall sales. Xenazine sales coupled with the acquisition of LifeHealth Ltd has strengthen Lundbeck's US presence.

"We are very pleased with the overall performance in the second quarter," said Lundbeck president and CEO, Ulf Wiinberg. "Our businesses in Europe and international markets continue to show high growth. Lundbeck Inc is delivering solid results on the back of the launch of Xenazine. With our achievements in the first half of the year we are now well on the way to deliver on our financial expectations for 2009."

Lundbeck is currently developing a number of new products in its existing fields of expertise, including depression, anxiety and psychotic disorders and in new areas such as epilepsy, stroke and alcohol dependence. The company's pipeline comprises: two compounds under US Food and Drug Administration (FDA) review, five compounds in phase III, five compounds in phase II and two compounds in phase I trials.

The company expects FDA approval for Sabril (vigabatrin), for the treatment of refractory complex partial seizures and the treatment of infantile spasms, within months as labelling discussions progress.

13th August 2009

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