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Lundbeck - Double digit revenue growth

14 May 09

H. Lundbeck A/S reports highest ever quarterly revenue of DKK 3,226 million, a growth of 15% in constant exchange rates, driven by strong growth in Cipralex®, Ebixa® and Azilect®. The divestment of LifeCycle Pharma contributes DKK 124 million to first quarter revenue.

In mid-March Lundbeck acquired Ovation Pharmaceuticals, Inc. The first new product from this acquisition - ATryn® - was launched in May.

Research & Development costs were DKK 717 million in the period, up 37% compared with Q1 2008, driven by increased investment in the late-stage pipeline. R&D costs now correspond to 22% of total revenue.

Profit from operations (EBIT) was DKK 947 million, corresponding to an EBIT margin of 29%. Operating profit before depreciation and amortisation (EBITDA) was DKK 1,079 million.

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