Note: All changes are versus the prior-year period unless otherwise stated
CEO Deborah Dunsire said growth of Lundbeck's strategic brands in the second-quarter has been accelerating post-pandemic, recording double-digit gains again "as we begin to see more normalised interaction between physicians and patients." The Danish drugmaker indicated that its portfolio has been generally "very resilient," especially outside the US. Although in the US, primary-care physicians have been seeing fewer patients than before the COVID-19 pandemic, which has particularly affected products such as Brintellix/Trintellix because of lower new patient starts.
Dunsire noted "we are very pleased to see continued good uptake of Vyepti in the US." She acknowledged that currency headwinds have been "impactful, as has the more rapid than expected decline post loss of exclusivity on Northera," but "we remain confident in Lundbeck's ability to deliver on our commitments to our patients and our shareholders in 2021 and beyond."
Lundbeck cut the upper end of its previous sales forecast for the year by DKK 300 million ($47 million), and now expects revenues to fall between DKK 16.3 billion ($2.57 billion) and DKK 16.6 billion ($2.61 billion).
Sales are still expected to be driven by growth for Abilify Maintena, Brintellix/Trintellix, Rexulti/Rxulti and Vyepti. However, Northera has been exposed to generic competition since February, and Lundbeck says it has seen "a very aggressive erosion curve," that is now expected to eat into the drug's revenue by about 75% compared to last year. "Additionally, we see a lower level for our contract manufacturing activities," the company said.
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