Lundbeck reports 30% rise in 2nd-qtr 2010 profit, with sales fueled by Cipralex

Danish drugmaker H Lundbeck A/S reported second quarter 2010 revenue of 3.77 billion Danish kroner (672million), an increase of 7% compared to the like 2009 period. Profit from operations was 936 million kroner, a leap of 30%, and EBIT margin for the quarter increased to 24.8% up from 20.4% in 2009, with the results beating consensus forecasts.

Operating profit before depreciation and amortization (EBITDA) was 1.21 billion kroner corresponding to an EBITDA margin of 32.0% compared to an EBITDA margin of 24.7% in the second quarter of 2009. For the first half of 2010 revenue was DKK 7.62 billion kroner and EBIT was 2.19 billion kroner.

The antidepressant Cipralex (escitalopram), Alzheimer's treatment Ebixa (memantine) and Parkinson's drug Azilect (rasagiline) continue to show solid growth, increasing 5%, 9% and 42%, respectively, at constant exchange rate for the quarter, reaching 1.51 billion kroner, 610 million kroner and 267 million kroner, the company noted. Revenue from Xenazine (tetrabenazine), for the treatment of chorea associated with Huntington's disease, was 147 million kroner, increasing 70% at CER, while sales of Sabril (vigabatrin), for the treatment of infantile spasms, were 37 million kroner.