LEO Pharma delivers 7% revenue growth in 1st-half 2025

Privately-held dermatology specialist LEO Pharma today revealed robust growth and significantly improved profitability, enabling an increase to the financial outlook for sales growth and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin in first-half 2025 towards the upper-end of previously communicated expectations.

LEO Pharma’s revenue increased by 6% year-on-year to 6,789 million kroner ($1,066 million), and by 7% at constant exchange rates (CER) entirely driven by organic growth. The revenue growth was led by North America (+28% at CER), with Europe (+1% at CER) and rest of world (+4% at CER) also contributing to the overall growth.

Operating profit improved significantly, with adjusted EBITDA reaching 1,456 million kroner in first-half 2025, reflecting a margin of 21% excluding the STAT6 partnership upfront payment from Gilead Sciences (Nasdaq: GILD) received in January and other non-recurring items. Net profit for first half 2025 was 1,977 million kroner (versus negative 761 million kroner), including non-recurring items, in the like 2024 period.