Lexapro US loss hits Lundbeck
pharmafile | February 7, 2013 | News story | Sales and Marketing | Danish, Lexapro, Lundbeck
The loss of US patent protection on antidepressant Lexapro has put a significant dent in Lundbeck’s financial performance for 2012.
The Danish company’s revenue last year was 14.8 billion DKK (£1.7 billion), a fall of 8% on 2011’s figure, in large part because Lexapro’s sales fell 77% in the US.
Pre-tax profit was 1.6 billion DKK (£185 million) – down 52% year-on-year.
Lundbeck has long warned of Lexapro’s looming patent expiry: the drug was the neurological disorder specialist’s second-biggest seller and had a 25% slice of the anti-depression market.
Instead, growth last year was driven primarily by Lundbeck’s new products, which generated revenue of 2.14 billion DKK (£247 million), up 71% on 2011.
The stellar performer in this group was Xenazine, for chorea in Huntingdon’s disease, whose revenue rose 40% year-on-year.
Other brands for which the company has high hopes include Sabril (for the treatment of refractory complex partial seizures and infantile spasms) and Lennox Gastaut-syndrome drug Onfi.
Revenue in Europe fell 3%, primarily due to decreasing sales of mood disorder treatment Cipralex against generic competition in Spain, reduced sales in Germany and the impact from price reductions and healthcare reforms.
Lundbeck chief executive Ulf Wiinberg called 2012 an ‘exciting’ year. “We have launched two new products, and our pipeline has shown a significant development,” he said.
The Copenhagen-based firm hopes to be launching three more products during or soon after 2013: antidepressant Brintellix,which is being developed with Takeda, Selincro (a novel opioid receptor ligand in development for the treatment of alcohol dependence), and a once-monthly version of schizophrenia drug Abilify.
Revenue from the US, excluding Lexapro, increased 29% and sales in international Markets grew 9% compared with 2011.
Lundbeck expects revenue to be down slightly in 2013 although it is ‘investing significantly’ in its pipeline and “expects to remain profitable with significant growth in new products replacing revenue from mature products”.
In particular it was looking for growth from Lexapro in Japan, Onfi, and Sycrest/Saphris, which is indicated for the treatment of moderate to severe manic episodes associated with bipolar I disorder.
Adam Hill
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