Lundbeck Hits Sales of DKK 20 Billion

Danish pharmaceutical company Lundbeck, specializing in brain disorders, reported a record-high revenue of DKK 19.9 billion for the year 2023. The company announced a net profit of DKK 2.29 billion after all expenses and taxes. CEO Charl van Zyl emphasized strengthening Lundbeck’s focus on innovation for a sustainable future. Nearly half of the revenue came from the US, with a quarter from Europe and the remaining from other regions. The antipsychotic drug Rexulti, now also approved in the US for certain Alzheimer’s patients, became the top seller with sales rising by 16% to DKK 4.5 billion, outpacing the antidepressant Brintellix. Despite record annual sales, fourth-quarter figures were slightly below analysts’ expectations, according to MarketWire. For 2024, Lundbeck expects revenue growth of 7-10%.