HLUN-BNasdaq CopenhagenDrug Manufacturers - Specialty & GenericIFRS · DKK

H. Lundbeck A/S

H. Lundbeck A/S is a Danish biopharmaceutical company focused on medicines for brain disorders. Its portfolio centers on neurology and psychiatry, including treatments for migraine, epilepsy, depression, schizophrenia, and other central nervous system conditions, marketed through Lundbeck’s own commercial network and partners across global markets.

Kysy yhtiöstä
Liikevaihto24,6mrd DKK
+11,9 %v/v
Liikevoitto (EBIT)5 275milj. DKK
+61,3 %v/v
EBIT-marginaali21,4%
+6,6 %-yks.v/v
Nettotulos3 192milj. DKK
+1,6 %v/v
Vapaa kassavirta4 927milj. DKK
+74,8 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2021–2025

0102030mrd DKK2021: 16,3 mrd DKK2021: EBIT 2,0 mrd DKK20212022: 18,2 mrd DKK2022: EBIT 2,9 mrd DKK20222023: 19,9 mrd DKK2023: EBIT 3,2 mrd DKK20232024: 22,0 mrd DKK2024: EBIT 3,3 mrd DKK20242025: 24,6 mrd DKK2025: EBIT 5,3 mrd DKK202512 kk 2026: 26,0 mrd DKK12 kk 2026: EBIT 5,7 mrd DKK12 kk26,05,7
LiikevaihtoLiikevoitto (EBIT)12 kk = viimeiset 12 kuukautta, ei kokonainen tilikausi
Kysy Clarifolta: H. Lundbeck A/S

Liiketoiminta

Osuus liikevaihdosta
Commercial medicines77 %

Approved prescription drugs sold through Lundbeck’s own and partnered channels.

Migraine franchise10 %

Products and late-stage programs addressing chronic and episodic migraine.

Epilepsy and seizure disorders6 %

Therapies and pipeline assets for developmental epilepsies and seizures.

Psychiatry and CNS therapies4 %

Treatments for depression, schizophrenia, and related brain disorders.

Partner markets and other3 %

External commercialization arrangements and smaller legacy or non-core revenue.

Asiakkaat

Lundbeck sells mainly to healthcare systems, hospitals, physicians, and pharmacies that prescribe or dispense central nervous system medicines. It also works with commercial partners in selected markets, where local pharmaceutical companies help distribute and promote Lundbeck-branded products. Demand is driven by diagnosis rates, physician adoption, reimbursement access, and the clinical differentiation of branded CNS therapies.

Neurologists and headache specialists

Prescribe migraine and epilepsy medicines, including branded specialty therapies and pipeline products.

Psychiatrists and mental health clinicians

Use Lundbeck’s psychiatry portfolio for depression, schizophrenia, and related disorders.

Hospitals and specialty clinics

Buy or administer treatments for complex brain disorders and severe patient populations.

Pharmacies and dispensing networks

Dispense prescribed medicines to patients under reimbursed retail or hospital channels.

Commercial partners

Market Lundbeck products in partner territories under licensing or distribution agreements.

Strategia

Lundbeck’s strategy is centered on brain disorders, with a focus on growing branded commercial franchises and advancing a late-stage pipeline. It is combining internal R&D, selective partnering, and business development to build a larger base of specialty neurology and psychiatry assets over time.

Grow strategic brandsLyhyt aikaväli

These medicines provide the commercial base that funds research and expansion.

Advance late-stage pipelineKeskipitkä aikaväli

Pipeline success is needed to replenish the product portfolio and sustain growth.

Partner market expansionLyhyt aikaväli

Partnerships increase geographic reach without requiring a full local sales buildout.

External business developmentKeskipitkä aikaväli

Deals can add assets and scale in rare disease and specialty CNS areas.

Maantiede

Lundbeck is headquartered in Denmark and operates across more than 20 countries, with products sold in more than 80 countries. The business is international in reach, with commercial activity concentrated in major developed pharmaceutical markets and a growing partner-market footprint across additional regions.

Riskit

Lundbeck depends on clinical and regulatory success in a concentrated set of CNS programs, so setbacks in trials or approvals can affect future product depth. It also faces typical pharmaceutical risks such as payer pressure, patent and lifecycle exposure, launch execution risk, and foreign-exchange sensitivity across a global commercial footprint.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Clinical trial failure1Regulatory approval delays2Product concentration3Reimbursement and pricing pressure4Foreign exchange volatility5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Clinical trial failureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Late-stage CNS programs may not meet efficacy or safety endpoints, reducing future revenue potential.

    KohdistuuBocunebartBexicaserinAmlenetugAsedebartLu AF28996
  2. Regulatory approval delaysVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Drug launches depend on approvals in each market, and timing can shift by country and indication.

    KohdistuuJapanSouth KoreaU.SEU filings
  3. Product concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    A large share of revenue comes from strategic brands, so brand erosion would affect results disproportionately.

    Kohdistuu: Strategic brands and migraine franchise

  4. Reimbursement and pricing pressureVaikutus: KeskitasoTodennäköisyys: Korkea

    Neurology drugs rely on payer access and formulary placement, which can compress uptake or net prices.

    Kohdistuu: Developed pharmaceutical markets

  5. Foreign exchange volatilityVaikutus: KeskitasoTodennäköisyys: Korkea

    Global sales and costs are denominated in multiple currencies, creating translation and transaction exposure.

    KohdistuuEuropeNorth AmericaAsia
Kysy Clarifolta: H. Lundbeck A/S

Kirjanpito

Harkinnanvaraiset erät
Purchased intangible assets

Acquired products and know-how are amortized over useful lives, affecting operating profit after acquisitions.

Vaikutus: Higher amortization after acquisitions can reduce reported earnings versus cash performance.

Contingent consideration

Milestone-based acquisition payments are measured using discounted cash flow and probability assumptions.

Vaikutus: Changes in clinical prospects can create fair-value swings in the income statement.

Adjusted EBITDA exclusions

Management excludes integration, restructuring, impairment, and similar items from the non-GAAP measure.

Vaikutus: Investors should compare adjusted and statutory results to assess underlying performance.

R&D capitalization and amortization effects

Development assets and acquired know-how can materially affect reported R&D expense and comparability.

Vaikutus: Timing of pipeline progress and asset lives changes earnings recognition.

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Päivitetty: 24.10.2026