9. November 2011 13:48
Revenue was up 10% in Q3 at Lundbeck to DKK 4.9 billion but profit from operations fell nearly a quarter (22%) after restructuring its R&D department.
Growth was driven by an increase in revenue from a number of its key products and milestone payments following the launch of escitalopram in Japan.
Ulf Wiinberg, Lundbeck’s President and CEO, says the company is “very pleased with yet another strong quarter” after its branded products delivered “solid results”.
Sales of Sabril increased by nearly half (47%) to DKK 77 million, compared to the third quarter in 2010, with revenue also up for Xenazine in the US by a fifth, compared with the same period, to DKK 191 million.
Lundbeck’s key products, Cipralex, Ebixa and Azilect, which grew 5%, 18% and 20% respectively, compared to the period last year, helped boost revenue from International Markets up 20% to DKK 901 million.
“We are now entering a new era with many new product launches,” said Ulf Wiinberg. “With the launch of Lexapro in Japan, the continued roll out of Sycrest and the forthcoming launch of OnfiTM in the US, we have expanded on our product diversification and strengthened our long term growth prospects substantially.”
28. July 2011 15:14
Merck KGaA posted healthy profits in Q2, despite being hit by a number of ‘one-time adjustments’.
Revenues increased by 16% to €2.6 billion following the acquisition of the Millipore Corporation, but integration costs and increased operating expenses hit profits.
Karl-Ludwig Kley, Chairman of the Executive Board of Merck KGaA, says the “solid” figures “give us a healthy basis on which our new management team can build”.
Profits were helped by global sales of multiple sclerosis treatment Rebif which increased by 5.2% to €423 million. The group’s divisions also enjoyed an increase in revenues with Merck Serono’s profits up 2% to €1.4bn; the Consumer Health Care division up 3.9% to €118m; with Merck Millipore amounting revenues of €584m.
But operating expenses more than doubled in the quarter to €270m from €109m in the same period a year ago. An impairment loss of €161m due to overcapacity at the Corsier-sur-Vevey Large Scale Biotech (LSB) production plant in Switzerland was also suffered, as well as a provision of €20 million after the FDA and EMA rejected its MS cladribine tablets.
Merck says it realises it needs to make improvements to its pharma pipeline, as well as internal processes and structures, if it is to meet future financial targets.
“We are striving for leaner processes and we are reviewing our cost structures,” said Mr Kley. “Generating attractive returns on invested capital and cost management continue to be the top priorities on our agenda. The first steps have already been taken this year. These include the changes in the Merck Executive Board, in Merck Serono and Consumer Health Care as well as decisions resulting from our pipeline review.”
The company’s Executive Board now believes the total revenue for 2011 for the Group will increase between €10bn and €10.4bn.