Lundbeck issues Lexapro patent warning
pharmafile | November 3, 2010 | News story | Sales and Marketing | Azilect, Cipralex, Forest Laboratories, Lexapro, Lundbeck, Xenazine
Neurological disorder specialist Lundbeck has posted a modest growth in revenue for the third quarter, but warned the looming patent expiry for Lexapro would soon cut into its figures.
The drug, which treats major depressive disorders, is the Danish company’s second-biggest seller and Lundbeck said it will face generic competition from March 2012 in the US, where Lexapro has a 25% slice of the anti-depression market.
Lundbeck acknowledged the loss of income from Lexapro, which is marketed by Forest Laboratories in the US, would impact its figures but said it still expected to deliver “solid profits” during 2011-2014.
Sales of the drug dropped by 6% in the third quarter to DKK566 million ($106.5m), but this was partially offset by strong growth of its other antidepressant – and top earner – Cipralex, which grew 11% to DKK1.4 billion.
Overall revenue grew by 7% to DKK3.6 billion, helped by new products Azilect, for Parkinson’s disease, and Xenazine, for chorea in Huntingdon’s disease, which grew by a healthy 28% and 92% respectively.
Lundbeck also saw strong growth in emerging markets where sales grew by 22% and the company managed solid performance in Europe with growth of 8%, despite cost-containment measures across the region.
This was pulled down by poor sales in the US, decreasing by 6% for the quarter, as that country’s healthcare reforms start to bite into industry profits.
Ulf Wiinberg, president and chief executive at Lundbeck, said: “We are pleased to continue to deliver solid profits while investing in new product launches and research and development efforts to make a positive difference for patients.
“We believe we have laid out a solid platform for the floor guidance and continue to plan for growth from 2015 and onwards.”
Ben Adams
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