H. Lundbeck A/S Class A · OMXCOP:HLUN_A
H. Lundbeck A/S Class A — FY2002 Earnings Presentation
78 slides from H. Lundbeck A/S Class A's earnings presentation, Mar 20, 2003
Slide 1: H. Lundbeck A/S Full-year results 2002
H. Lundbeck A/S Full-year results 2002
Slide 2: Safe Harbour Statement
Safe Harbour Statement This presentation contains forward-looking statements that reflect the Management’s current views with respect to certain future events and financial performance. Statements containing the outlook for 2003 and the following years naturally involve uncertainties, and consequent
Slide 3: About Lundbeck
About Lundbeck H. Lundbeck A/S • A unique fully-integrated pharmaceutical company focusing solely on the treatment of diseases of the central nervous system • Our vision is to become the world leader in psychiatry and neurology Business and R&D focus areas • Psychiatry • Neurology • Depression • Dem
Slide 4: Financial highlights 2002
Financial highlights 2002 • Revenue up 24% to DKK 9.5 billion • Profit from operations up 29% to DKK 2.4 billion 4, Thursday, 20 March 2003
Slide 5: Financial Outlook 2003
Financial Outlook 2003 • Revenue approx +10% growth • Profit from operations approx +12% growth 5, Thursday, 20 March 2003
Slide 6: Cipralex/Lexapro
Cipralex/Lexapro • Launched in approx 80% of world market • USA (Forest): 73% • Lundbeck territory: 25% • So far launched in 6% • 2003: 4 times up 6, Thursday, 20 March 2003
Slide 7: Ebixa
Ebixa • Launched in 10% of world market • 2003: 26% of world market • 2004: 31% of world market • Lundbeck territory: 31% 7, Thursday, 20 March 2003
Slide 8: Financial results 2002
Financial results 2002 • Revenue increased by 24% to DKK 9,488 million. • Sales of Cipramil increased by 14% to DKK 5,187 million. • Income from Celexa sales in the USA increased from DKK 1,657 million to DKK 2,378 million. • Income from Lexapro shipments to Forest Labs. increased from DKK 259 milli
Slide 9: Mid-/Long-term Growth Drivers & Financial Outlook
Mid-/Long-term Growth Drivers & Financial Outlook Mid/Long term Growth Drivers Long-term Financial Outlook • Establish US Salesforce • Improve growth rates beyond IPO targets after transition year 2003 • Continue to strengthen pipeline through in-house R&D and • Drive margin expansion through licens
Slide 10: Strong revenue growth
Strong revenue growth CAGR 1998 - 2002: 31% Other turnover Antipsychotics 9.5 24% Other antidepressants Cipralex/Lexapro 36% 7.7 Cipramil/Celexa DKK billion 5.6 4.0 3.2 1998 1999 2000 2001 2002 10, Thursday, 20 March 2003
Slide 11: 68% of total revenue from the largest CNS markets in the world
68% of total revenue from the 7 largest CNS markets in the world Growth 24% 2001 2002 RoW UK RoW UK Canada 7% 9% 9% France 6% France Canada 9% 8% 8% 6% Germany 5% Germany 4% Spain Spain 3% 3% US 26% Italy Italy 3% 4% US 34% Rest of Europe Rest of 31% Europe 25% 11, Thursday, 20 March 2003
Slide 12: Citalopram/escitalopram growth on the largest markets for antidepressants
Citalopram/escitalopram growth on the 7 largest markets for antidepressants Sales DKKm 2002 2001 Change UK 791.4 566.7 40% France 668.9 517.4 29% Germany 207.9 261.2 -20% Spain 265.9 197.0 35% Italy 317.1 228.8 39% Canada 587.2 437.6 34% License sales (Forest) 3,154.6 1,916.0 65% 7 big countries 5,9
Slide 13: New Rx Market Share in USA
New Rx Market Share in USA Lexapro, 14 February 2003 – 9,60% 24,0% 21,0% 18,0% 15,0% 12,0% 9,0% 6,0% 3,0% 0,0% Week 1 Week 3 Week 5 Week 7 Week 35 Week 37 Week 39 Week 41 Week 43 Week 45 Week 47 Week 49 Week 51 CELEXA LEXAPRO COMBINED SSRI Market (Celexa, Lexapro, Effexor /XR, Luvox, Paxil, Prozac,
Slide 14: Forest income recognition
Forest income recognition Lundbeck P&L 1. Guaranteed minimum price booked as Forest income on revenue line 2. Actual sales price added as Forest income Lundbeck Balance sheet 1. Difference between minimum price and prepayment booked 1. Bulk delivery to Forest as “Prepayment from Forest” 2. Actual sa
Slide 15: Currency Exposure: Principles for hedging and trading
Currency Exposure: Principles for hedging and trading Hedging Trading • 12-month horizon • Trading is typically covering net exposure up to 133%-166% of the expected cash-flow for • Currency is grouped in accordance with the the coming 12 months underlying currency risk (US and related, EUR, other E
Slide 16: P&L effect of hedging vs. trading etc.
P&L effect of hedging vs. trading etc. Hedging Trading • Income/loss is following the type of • Income/loss follows a mark-to-market hedged transaction, meaning that a valuation with full P/L effect under hedge of a turnover item Financial Items • --> results in an income/loss on Other FX-effect on
Slide 17: Hedging – an example
Hedging – an example A 12 month forward Average hedging rate deal contract USD exchange The exchange rate is always locked 12 months ahead at the current exchange Current rate – with 12 exchange rate months delay 12 months Time 17, Thursday, 20 March 2003
Slide 18: Cost structure & operating margin
Cost structure & operating margin Operating Costs % Operating Margin 35 8 R&D 16.6% 7 S,G&A 39.7% 30 24.9% 6 COGS 19.2% 25 5 20 DKK Billion 4 15 3 10 2 1 5 0 0 1998 1999 2000 2001 2002 1998 1999 2000 2001 2002 18, Thursday, 20 March 2003
Slide 19: Financial Items & Tax
Financial Items & Tax • Financial income heavily influenced by Cephalon shareholding Unrealised loss 31 Dec 2001 31 Dec 2002 full-year 2002 Cephalon shares 1,000,000 1,000,000 Cephalon share price 75.58 48.67 USD exchange rate 8.4095 7.0822 Value (DKK) 635,590,010 344,676,510 (290,913,500) • Tax rat
Slide 20: Cash flow
Cash flow (DKK million) 2002 2001 Cash flow from operating 1,275 1,704 activities Cash flow from investing -1,186 -2,045 activities Cash flow from operating and 89 -341 investing activities, net Cash flow from financing -252 -119 activities Increase in cash and cash -163 -460 equivalents 20, Thursda
Slide 21: Geographical Expansion
Geographical Expansion 1992 2002 Regional sales organisation Global sales organisation 100 sales reps 2.142 Lundbeck sales reps 2.300 Forest sales reps Lundbeck subsidiaries Lundbeck partner alliance 21, Thursday, 20 March 2003
Slide 22: Sales force expansion has made Lundbeck a dominant player in antidepressants
Sales force expansion has made Lundbeck a dominant player in the antidepressant market with Cipramil Market leader in 22 countries Value Market Share rank, Depression * 1 2 3 4 <4 *) Forest 22, Thursday, 20 March 2003
Slide 23: N6A value market shares in Europe
N6A value market shares in Europe 25% 21% 20% 18% 15% 12% 12% 13% 10% 6% 5% 1% 0% E TINE PR AM A LINE E TINE M INE A XINE APINE R OX T ALO E RTR UOX OXA LAF T AZ A I S F L V VE N IR P C FLU M Source: IMS, Q2 2002 23, Thursday, 20 March 2003
Slide 24: Sensitivity to potential generic competition
Sensitivity to potential generic competition Loss of sales > 50% 25% - 50% < 25% 24, Thursday, 20 March 2003
Slide 25: Sensitivity to potential generic competition
Sensitivity to potential generic competition Low generic exposure High generic exposure 58% 32% Medium generic exposure 10% Data: Cipramil sales Q4 2002 25, Thursday, 20 March 2003
Slide 26: Huge growth potential in depression market
Huge growth potential in depression market Treatment: index 100 Treatment Diagnosing Prevalence 0 100 200 300 400 Prevalence Diagnosing Treatment Source: Decision Resources, November 2002, major 7 pharmaceutical markets 26, Thursday, 20 March 2003
Slide 27: Cipralex/Lexapro registration and launch overview
Cipralex/Lexapro registration and launch overview Cipralex/Lexapro Launched Cipralex/Lexapro Registered 27, Thursday, 20 March 2003
Slide 28: Cipralex launch – coverage of N6A Lundbeck markets
% of total N6A market (value) Cipralex launch – coverage of N6A Lundbeck markets 25% 6% 19% 13% 6% Q2 2002 Q3 2002 Q4 2002 Q1 2003 Q2 2003 Q3 2003 Q4 2003 Source: IMS, 2001 Lundbeck markets: 25% of total N6A market US: 73% of total N6A market 28, Thursday, 20 March 2003 Japan: 2% of total N6A market
Slide 29: Cipralex Launch
Cipralex Launch Cipralex Launch first half Launch second half Launched 2003 2003 Austria Belgium Canada Bulgaria CEE region France Denmark Finland Germany Estonia India Italy Ireland Latin America Middle East Latvia Lithuania Pakistan Sweden Norway Portugal Switzerland South Africa Turkey UK Spain 2
Slide 30: Half of Cipralex patients from competing products
Half of Cipralex patients from competing products % 100 90 80 70 60 50 40 30 20 10 0 GP Spec GP Spec GP Spec GP Spec GP Spec Austria Denmark Sweden Switzerland UK Cipramil (Lu) Other 30, Thursday, 20 March 2003 Source: Medical Radar
Slide 31: Cipralex total market share, value
Cipralex total market share, value From launch with reimbursement Cipramil market share: 8% CH: 24,8% 7% S: 7,5% UK: 12,1% 6% % of N6A market DK: 18,2% 5% A: 26,4% 4% IRL: 19,1% USA: 11,1% 3% 2% 1% 0% 0 +1 +2 +3 +4 +5 +6 +7 +8 +9 +10 +11 +12 Months after Cipralex/Lexapro launch CH S UK DK A IRL USA
Slide 32: Cipralex value market penetration - Switzerland
Cipralex value market penetration - Switzerland Cipralex penetration vs. competitors 4,0% 3,5% Value marketshare - N6A 3,0% 2,5% 2,0% 1,5% 1,0% 0,5% 0,0% Launch Q1 Q2 Q3 Q4 Time after launch Cipralex Effexor Remeron 32, Thursday, 20 March 2003
Slide 33: Cipralex value market penetration - Sweden
Cipralex value market penetration - Sweden Cipralex penetration vs. competitors 3,0% Value marketshare - N6A 2,5% 2,0% 1,5% 1,0% 0,5% 0,0% Launch Q1 Q2 Q3 Q4 Time after launch Cipralex Effexor Remeron 33, Thursday, 20 March 2003
Slide 34: Cipralex value market penetration - UK
Cipralex value market penetration - UK Cipralex penetration vs. competitors 2,5% Value marketshare - N6A 2,0% 1,5% 1,0% 0,5% 0,0% Launch Q1 Q2 Q3 Q4 Time after launch Cipralex Effexor Remeron 34, Thursday, 20 March 2003
Slide 35: Cipralex value market penetration - Denmark
Cipralex value market penetration - Denmark Cipralex penetration vs. competitors 5,0% 4,5% Value marketshare - N6A 4,0% 3,5% 3,0% 2,5% 2,0% 1,5% 1,0% 0,5% 0,0% Launch Q1 Q2 Q3 Q4 Time after launch Cipralex Effexor Remeron 35, Thursday, 20 March 2003
Slide 36: Cipralex value market penetration - Austria
Cipralex value market penetration - Austria Cipralex penetration vs. competitors 7,0% Value marketshare - N6A 6,0% 5,0% 4,0% 3,0% 2,0% 1,0% 0,0% Launch Q1 Q2 Q3 Q4 Time after launch Cipralex Effexor Remeron 36, Thursday, 20 March 2003
Slide 37: Cipralex conclusion
Cipralex conclusion Sales forces in place in 55 countries Successful launches in 9 countries covering 24% of the N6A potential in “Lundbeck territory” More than 35 launches in 2003 including France, Canada, Germany, Italy, Spain – extending the success to almost 100% of “Lundbeck territory” 37, Thur
Slide 38: A market being created – 46% growth within Alzheimer's
A market being created – 46% growth within Alzheimer’s in 2002 Treatment: index 100 Treatment Diagnosing Prevalence 0 100 200 300 400 500 600 700 Prevalence Diagnosing Treatment 38, Thursday, 20 March 2003
Slide 39: Lundbeck Ebixa rights
Lundbeck Ebixa® rights Exclusive Semi-exclusive 39, Thursday, 20 March 2003
Slide 40: Ebixa launch status
Ebixa® launch status Registered, not yet launched Launched 40, Thursday, 20 March 2003 Status Jan. 2003
Slide 41: Ebixa launch – coverage of N7D1 Lundbeck markets
Ebixa launch – coverage of N7D1 Lundbeck markets % of total N7D1 market (value) 32% 24% 10% 16% 8% Q2 2002 Q3 2002 Q4 2002 Q1 2003 Q2 2003 Q3 2003 Q4 2003 Lundbeck markets: 31% of total N7D1 market Source IMS 2001 US: 60% of total N7D1 market Japan: 9% of total N7D1 market 41, Thursday, 20 March 200
Slide 42: Ebixa launch
Ebixa launch Ebixa Launched Launch 2003 Launch 2003+ Austria Australia Asia Finland Belgium Canada Germany CEE region Latin America Holland France Middle East Ireland Greece South Africa Mexico Italy Turkey Scandinavia Portugal UK Spain Switzerland 42, Thursday, 20 March 2003
Slide 43: Ebixa market share, value
Ebixa market share, value Data: 12% GER: January 03 UK: January 03 10% S: February 03 N: February 03 % of N7D1 market 8% DK: PH: February 03 FIN: February 03 6% IRL: January 03 NL: January 03 4% A: January 03 MEX: January 03 2% 0% 0 +1 +2 +3 +4 +5 +6 +7 +8 Months after Ebixa launch GER UK S N DK PH
Slide 44: Germany: sales value and market share
Germany Sales value and market share 6,0 60,0% 5,0 50,0% Sales Euro mio. N7D1 market share 4,0 40,0% 3,0 30,0% 2,0 20,0% 1,0 10,0% 0,0 0,0% jul-02 aug-02 sep-02 okt-02 nov-02 dec-02 jan-03 Akatinol sales (memantine) Ebixa sales (memantine) Axura sales (mematine) Ebixa market share (memantine) Axura
Slide 45: Austria: sales value and market share
Austria Sales value and market share 45,000 5,0% 40,000 4,5% 35,000 4,0% Sales Euro thousand N7D1 market share 30,000 3,5% 3,0% 25,000 2,5% 20,000 2,0% 15,000 1,5% 10,000 1,0% 5,000 0,5% 0,000 0,0% sep-02 okt-02 nov-02 dec-02 jan-03 Ebixa sales (memantine) Axura sales (mematine) Ebixa market share (
Slide 46: Ebixa conclusion
Ebixa conclusion Sales force in place Successful launches in 8 countries covering 32% of “Lundbeck territory” 20+ launches in 2003 including France and Spain to extend the successful launches 46, Thursday, 20 March 2003
Slide 47: Existing late-stage pipeline
Existing late-stage pipeline Compound Activity Indication 2003 2004 2005 2005+ III/NDA Launch Escitalopram SSRI SAD Rasagiline MAO-B Parkinson’s III/NDA Launch Alzheimer’s Memantine NMDA antagonist III NDA Launch Mild to Moderate Sertindole D2-5HT2 Schizophrenia PMS Launch Bifeprunox Dopamine/seroto
Slide 48: Synaptic Pharmaceutical Corporation
Synaptic Pharmaceutical Corporation • Phase I project - antidepressant with novel target • First class science • US research presence • Relevant technologies • Total discovery costs app. 30% of R&D expenses 48, Thursday, 20 March 2003
Slide 49: Depression – 15.9 bill. USD
Depression – 15.9 bill. USD 28% 72% Rest of Europe Q2 2002 Fluvoxamine world USA Q2 2002 North 7% Fluoxetine America 75% Citalopram Sertraline Europe Paroxetine 18% 0% 10% 20% 30% 40% Leading product Marketing Corporation Sales 2001 (USDm) Growth in % Seroxat®/Paxil® GlaxoSmithKline 2,848 18 Zoloft®
Slide 50: Mature but still growing – healthy growth
Mature but still growing – healthy growth Euro Mill. 20000 70% MAT Q2 02 Sales 18000 Growth 60% 16000 14000 50% 12000 40% 10000 30% 8000 6000 20% 4000 10% 2000 0 0% Anaesthetics Narcotic Anti-Migraine Anti- Anti- Anti- Hypnotics & Anti- Anti- General Analgesics Preps Epileptics Parkinson psychotics
Slide 51: Cipralex/Lexapro, Approval
Cipralex/Lexapro, Approval the S-isomer of Cipramil/Celexa Approved 51, Thursday, 20 March 2003 Pending
Slide 52: Cipralex/Lexapro, Exposure December 2002
Cipralex/Lexapro, Exposure 31 December 2002 1.720.000 patients 425.000 patient years 52, Thursday, 20 March 2003
Slide 53: Cipralex/Lexapro, New Indications
Cipralex/Lexapro, New Indications End 2003 GAD submitted in US SAD submitted in EU and US Future PMDD (OCD ? and ?) 53, Thursday, 20 March 2003
Slide 54: Cipralex superior to citalopram in treating depression
Cipralex superior to citalopram in treating depression Study Comparator Cipralex superior to citalopram Fixed dose, US ESC20 to CIT40 MADRS w 8 (rep measure) HAMD 17 w 8 OC, LOCF HAMD 24 w 8 OC, LOCF Severe MDD, w 8 OC Previous non-responder w 8,OC Flex dose, EU ESC10-20 to Responders CIT 20-40 Remi
Slide 55: Cipralex superior to citalopram - pooled analyses
Cipralex superior to citalopram in treating depression - pooled analyses Cipralex superior to Studies Comparator citalopram Fixed dose, US ESC 10, 20, CIT40 Onset by MADRS w 1 Flex dose, EU ESC10-20, CIT 20-40 MADRS at endpoint (w 8,OC) Flex dose, US ESC10-20, CIT 20-40 Responders Severe w 1, 6 and
Slide 56: Cipralex compared to paroxetine in treating anxiety
Cipralex compared to paroxetine in treating anxiety Study Comparator Cipralex compared to paroxetine SAD 24 w, ESC 5,10 and 20 Fix dose to PBO and PAR 20 To be published at SCNP, 9-12 April at w 24, OC Data on file 56, Thursday, 20 March 2003
Slide 57: Sustained remission faster on ESC than venlafaxine XR
Patients achieved sustained remission 6.6 days faster on ESC than on venlafaxine XR Montgomery et al, Poster presented at ECNP, 2002 80 70 ESC (N=125) * Percentage of patients with 60 VLF (N=124) sustained response 50 ** * p ≤0.05 vs VLF ** p <0.01 vs VLF 40 ** 30 20 * 10 0 Day 7 14 21 28 42 Percent
Slide 58: Escitalopram offers significant tolerability advantages compared with venlafaxine
Escitalopram offers significant tolerability advantages compared with venlafaxine Montgomery et al, ECNP 2002 30 * VLF (N=148) No other TEAEs with an 25 ESC (N=145) incidence above 5% showed any significant difference * p <0.05 Percentage of patients 20 15 * 10 * 5 0 Nausea Sweating Constipation inc
Slide 59: Escitalopram compared to citalopram in severe depression
Escitalopram compared to citalopram in severe depression CIT 40 mg (N=60) 9 ESC 20 mg (N=51) # Baseline MADRS total score ≥30 8 MADRS total score at endpoint # p<0.05 vs CIT 7 Change from placebo in 6 5 4 3 2 1 0 CIT 40 mg ESC 20 mg H. Lundbeck, data on file (study MD-01) 59, Thursday, 20 March 2003
Slide 60: Cipralex/Lexapro, Future Clinical Trials
Cipralex/Lexapro, Future Clinical Trials • Ongoing or late planning – Comparative trials – PMDD – Severely depressed patients – Other indications • Total of month: > 10.000 patients 60, Thursday, 20 March 2003
Slide 61: Alzheimer's – 1.2 bill. USD
Alzheimer’s – 1.2 bill. USD 2% 98% Rest of world Europe Q2 2002 North Tacrine 13% USA Q2 2002 America 63% Galantamine Rivastigmine Europe Donepezil 24% 0% 20% 40% 60% 80% Leading product Marketing Corporation Sales 2001 (USDm) Growth in % Aricept® Pfizer 923 26 Exelon® Novartis 228 119 Reminyl® John
Slide 62: Alzheimer's - high growth market
Alzheimer’s - high growth market Euro Mill. 20000 70% MAT Q2 02 Sales 18000 Growth 60% 16000 14000 50% 12000 40% 10000 30% 8000 6000 20% 4000 10% 2000 0 0% Anaesthetics Narcotic Anti-Migraine Anti- Anti- Anti- Hypnotics & Anti- Anti- General Analgesics Preps Epileptics Parkinson psychotics Sedatives
Slide 63: Overview of Marketed Compounds for AD
Overview of Marketed Compounds for AD Donepezil Rivastigmine Galantamine Memantine Indications Mild to moderate Mild to moderate Mild to moderate (M- Moderately severe to (M-M) (M-M) M) severe (MS-S) MMSE 24-12 24-12 24-12 15-4 Launch 1997 1998 2000 2002 Position in class 1st 2nd 3rd 1st Titration N
Slide 64: Selected pipeline compounds for AD
Selected pipeline compounds for AD Name Class Company Phase Phenserine AchEI Axonyx II Lovastatin Statin Andrx II NS 2330 DA, NA and AchE activity NeuroSearch/BI II Colostrinin Immunomodulator ReGen III Therapeutics Xaliproden NGF agonist Sanofi-Synthelabo II Aggregate modulators/ I-II gamma secreta
Slide 65: Additional memantine indications
Additional memantine indications • Mild to moderate AD – submission 2004 • Neuropathic Pain 65, Thursday, 20 March 2003
Slide 66: Antipsychotics – 7.7 bill. USD
Antipsychotics – 7.7 bill. USD 14% 86% North Amisulpride Europe Q2 2002 Rest of America% USA Q2 2002 Clozapine world 69% 11% Ziprasidone Quetiapine Risperidone Olanzapine Europe% 0% 10% 20% 30% 40% 50% 20% Leading product Marketing Corporation Sales 2001 (USDm) Growth in % Zyprexa® Eli Lilly 3,226 3
Slide 67: Antipsychotics - Major value conversion
Antipsychotics - Major value conversion Euro Mill. 20000 70% 18000 MAT Q2 02 Sales 60% Growth 16000 14000 50% 12000 40% 10000 30% 8000 6000 20% 4000 10% 2000 0 0% Anaesthetics Narcotic Anti-Migraine Anti- Anti- Anti- Hypnotics & Anti- Anti- General Analgesics Preps Epileptics Parkinson psychotics Se
Slide 68: Antipsychotics, all atypical
Antipsychotics, all ”atypical” • Serdolect – Mixed profile DA antagonist – PMS-studies, relaunch ≈ 2005 • Bifeprunox – Partial D2 agonist – End phase II, launch EU 2005+ • LU 35-138 – Dopamine D4 antagonist+ – End phase I, launch world wide 2005+ 68, Thursday, 20 March 2003
Slide 69: Parkinson's – 1.7 bill. USD
Parkinson’s – 1.7 bill. USD 3% 97% North America 37% Europe 34% Rest of world Cabergolin Europe Q2 2002 29% USA Q2 2002 Benserazid/Levodopa Pergolid Entacapon Ropinirol Pramipexol Carbidopa/Levodopa 0% 5% 10% 15% 20% 25% 30% 35% 40% 69, Thursday, 20 March 2003
Slide 70: Parkinson's - A mature & relatively stable market
Parkinson’s - A mature & relatively stable market Euro Mill. 20000 70% MAT Q2 02 Sales 18000 Growth 60% 16000 14000 50% 12000 40% 10000 30% 8000 6000 20% 4000 10% 2000 0 0% Anaesthetics Narcotic Anti-Migraine Anti- Anti- Anti- Hypnotics & Anti- Anti- General Analgesics Preps Epileptics Parkinson psy
Slide 71: Drugs in Development
Drugs in Development Compound Mode of action Company Clinical Phase Chiesi 1512 Dopamine precursor Chiesi Launch date 2004 + decarboxylase Levodopa methyl inhibitor ester + carbidopa Levodopa+ D presursor+ Novartis Launch date 2003 Carbidopa+ decarb+ COMT entacapone inhibitor KW 6002 Adenosine A2A K
Slide 72: Rasagiline
Rasagiline Main non L-dopa competitors At time of launch 1. Selegiline / Zydis Selegiline (Elan) 2. Ropinirole 3. Pramipexole 4. Cabergoline 5. Pergolide 6. Entacapone Post launch 1. Partial DA agonists (2007) 2. KW 6002 (2007) 72, Thursday, 20 March 2003
Slide 73: CEP-1347, Paradigm shift
CEP-1347, Paradigm shift • Treatment of PD, i.e. modifying disease progression by delaying introduction of dopaminergic treatment (Primary End Point) • No acute symptomatic treatment effect on PD • CEP-1347 is expected to be the first disease modifying drug on the market 73, Thursday, 20 March 2003
Slide 74: Gaboxadol – sleep disorders
Gaboxadol – sleep disorders Indication – Treatment of Insomnia Pharmacological Profile – Gaboxadol is a selective GABAA receptor agonist – The influence of GABAA agonists on NREM and REM sleep mimic the effect of a physiological increase in sleep need – Benzodiazepines, zolpidem, zopiclone and indip
Slide 75: Existing late-stage pipeline
Existing late-stage pipeline Compound Activity Indication 2003 2004 2005 2005+ III/NDA Launch Escitalopram SSRI SAD Rasagiline MAO-B Parkinson’s III/NDA Launch Alzheimer’s Memantine NMDA antagonist III NDA Launch Mild to Moderate Sertindole D2-5HT2 Schizophrenia PMS Launch Bifeprunox Dopamine/seroto
Slide 76: Q&A H. Lundbeck A/S
Q&A H. Lundbeck A/S
Slide 77: More information please contact Investor Relations & Corporate Reporting
More information please contact Investor Relations & Corporate Reporting Steen Juul Jensen Jacob Tolstrup Teresa Zoe Langgård Divisional Director Investor Relations Officer Event Manager Investor Relations & Investor Relations & Investor Relations & Corporate Reporting Corporate Reporting Corporate
Slide 78: Key figures
Key figures 2002 2001 Earnings per share – EPS (DKK) 5.44 5.62 Cash flow per share – CFPS (DKK) 5.46 7.30 Operating margin (%) 24.9 23.9 Return on net assets (%) 48.1 47.8 Return on equity (%) 24.1 30.9 Solvency ratio (%) 62.8 59.5 Net asset value per share (DKK) 24.90 20.34 78, Thursday, 20 March 2