Lundbeck reported strong Q2 17 results, ahead of consensus as well as our estimates (significant beat on profitability). Revenue increased 14% yoy to DKK4.3bn (+15% at LC), driven by the continued robust performance of the core portfolio (all at LC) – Brintellix /Trintellix (+70%), Rexulti (+56%), Northera (+48%), Onfi (+27%) and Abilify Maintena (+25%). The key differentiator, however, was the solid growth posted by the off-patent drug Sabril (+22%, lost patent in 2016) due to delayed
18 Aug 2017
Another beat, navigated by mature drugs and R&D caps
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Another beat, navigated by mature drugs and R&D caps
Lundbeck reported strong Q2 17 results, ahead of consensus as well as our estimates (significant beat on profitability). Revenue increased 14% yoy to DKK4.3bn (+15% at LC), driven by the continued robust performance of the core portfolio (all at LC) – Brintellix /Trintellix (+70%), Rexulti (+56%), Northera (+48%), Onfi (+27%) and Abilify Maintena (+25%). The key differentiator, however, was the solid growth posted by the off-patent drug Sabril (+22%, lost patent in 2016) due to delayed