H. Lundbeck A/S Class A · OMXCOP:HLUN_A
H. Lundbeck A/S Class A — Q3 2007 Earnings Presentation
74 slides from H. Lundbeck A/S Class A's earnings presentation, Nov 14, 2007
Slide 1: Investor kit - Q3 2007
Investor kit - Q3 2007 _________________ Q3 2007 release Financial highlights Costs by quarter Sales by quarter Financial presentation Q3 2007
Slide 2: Interim report for the third quarter of 2007
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Release No 303 14 November 2007 Interim report for the third quarter of 2007 The Supervisory Board of H. Lundbeck A/S today approved the Group’s interim report f
Slide 3: Research and development events and financial forecast 2007
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Lundbeck’s research and development - events after 30 September 2007: Proof of concept was achieved in a phase II clinical trial with Lu AA21004 Lu AA24530 for t
Slide 4: Financial highlights for the period
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Financial highlights for the period In respect of recognition and measurement, the interim report has been prepared in accordance with International Financial Re
Slide 5: Financial forecast for 2007
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Financial forecast for 2007 Lundbeck forecasts strong growth in consolidated profit for 2007 relative to 2006. Exclusive of one-off items, Lundbeck upgrades its
Slide 6: Lundbeck Group revenue
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Lundbeck Group revenue Q3 Q3 Growth Growth Q2 2007 2006 in DKK at CER 2007 DKKm DKKm DKKm ® Cipralex 1,046 878 19% 21% 1.027 Lexapro® 699 479 46% 44% 641 Ebixa®
Slide 7: Europe
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Europe Q3 Q3 Growth Growth Q2 2007 2006 in DKK at CER 2007 DKKm DKKm DKKm ® Cipralex 728 643 13% 13% 706 Ebixa® 357 282 27% 27% 334 Azilect® 43 19 123% 123% 37 S
Slide 8: USA
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Lundbeck expects to launch Circadin® in the first markets in 2008, which will cause an increase in selling and distribution expenses in 2008. USA Q3 Q3 Growth Gr
Slide 9: International markets
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com September 2007 for US dollars were USD/DKK 551.37. Deferred recognition of net currency losses and gains amounted to DKK 80 million at 30 September 2007 against
Slide 10: Ebixa market share and expenses
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Ebixa®, Lundbeck’s second-largest pharmaceutical, held 11.2% of the total market for pharmaceuticals to treat Alzheimer’s disease in International Markets. In th
Slide 11: Depreciation, employees and net financials
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Depreciation and amortisation charges, which are included in the individual expense categories, totalled DKK 135 million in Q3 2007, up from DKK 127 million in t
Slide 12: Currency items and tax
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Third-quarter foreign currency translation represented an expense of DKK 51 million, and net income relating to trading amounted to DKK 1 million for a total of
Slide 13: Share buyback and cash flows
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com implemented in accordance with the provisions of the European Commission’s safe harbour regulation, which protects listed companies against violation of insider
Slide 14: Litigation in respect of escitalopram
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Litigation in respect of escitalopram Lundbeck is involved in pending patent trials in the USA, the UK, Australia, Canada, France and Germany. USA The appeal in
Slide 15: Development activities in Q3 2007
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Development activities in Q3 2007 On 5 September, Lundbeck and Takeda Pharmaceutical Company Limited announced a strategic alliance for the exclusive co-developm
Slide 16: Share-based incentive programmes
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com valuation of options and is based on an exercise price of DKK 156, a volatility of 28.6%, a dividend payout ratio of 1.2% and a risk-free interest rate of 4.3%.
Slide 17: Forward-looking statements
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Forward-looking statements This announcement contains forward-looking statements that provide current expectations or forecasts of events such as new product lau
Slide 18: Management statement
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Management statement The Supervisory Board and Executive Management have considered and adopted the interim report of H. Lundbeck A/S. The interim report, which
Slide 19: Lundbeck contacts
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Lundbeck contacts Investors: Media: Jacob Tolstrup Anders Schroll Director, Corporate Reporting Head of Communication +45 36 43 30 79 +45 36 43 20 81 ___________
Slide 20: Appendix 1 – Financial highlights
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Appendix 1 – Financial highlights 2007 2006 2007 2007 2006 2007 Q3 Q3 Q3 9M 9M 9M DKKm DKKm EURm * DKKm DKKm EURm * FINANCIAL HIGHLIGHTS Revenue 2,960.2 2,247.5
Slide 21: Appendix 2 – Income statement
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Appendix 2 – Income statement 2007 2006 2007 2006 2006 DKKm Q3 Q3 9M 9M Full year Revenue 2,960.2 2,247.5 8,154.6 6,678.2 9,221.0 Cost of sales 456.8 371.6 1,351
Slide 22: Appendix 3 – Balance sheet
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Appendix 3 – Balance sheet DKKm 30.09.2007 30.09.2006 31.12.2006 ASSETS Intangible assets 1,759.4 1,643.2 1,780.7 Property, plant and equipment 3,714.2 3,597.7 3
Slide 23: Appendix 4 - Equity
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Appendix 4 - Equity Share Share Retained Equity capital premium earnings Group 2007 DKKm DKKm DKKm DKKm Equity at 01.01.2007 1,060.8 121.6 5,582.4 6,764.8 Adjust
Slide 24: Appendix 5 – Cash flow statement
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Appendix 5 – Cash flow statement DKKm 2007 2006 2007 2006 2006 Q3 Q3 9M 9M Full year Cash flows from operating activities 1,182.5 554.6 2,497.8 982.7 1,394.0 Cas
Slide 25: Appendix 6 – Revenue per region
H. Lundbeck A/S Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com DK-2500 Valby København Fax +45 36 43 82 62 www.lundbeck.com Appendix 6 – Revenue per region Revenue by quarter (DKKm) Europe FY 2005 Qtr1 06 Qtr2 06 H1 06 Qtr3 06 Qtr4 06 FY 2006 Qtr1 07 Qtr2 07 H1 07 Qtr3 07 Cipralex® 1,
Slide 26: Financial highlights and ratios January - September
FINANCIAL HIGHLIGHTS AND RATIOS 1 January - 30 September 2007 Group 2007 2006 2007 2007 2006 2007 Q3 Q3 Q3 9M 9M 9M DKKm DKKm EURm * DKKm DKKm EURm * FINANCIAL HIGHLIGHTS Revenue 2,960.2 2,247.5 397.4 8,154.6 6,678.2 1,094.7 Profit from operations 1,078.9 630.0 144.9 2,428.1 1,349.4 325.9 Net financ
Slide 27: Cost percentage of revenue 2001-2002
Cost percentage of revenue Q1 Q2 Total Q3 Q4 Total DKKm 2001 % 2001 % 1H 2001 % 2001 % 2001 % 2001 % Revenue 1.657 1.918 3.575 2.047 2.034 7.656 Production costs 310 19% 320 17% 630 18% 344 17% 396 20% 1.370 18% Distribution costs 350 21% 433 22% 783 22% 428 21% 701 34% 1.912 25% Administrative expe
Slide 28: Cost percentage of revenue 2003-2004
Cost percentage of revenue Q1 Q2 Total Q3 Q4 Total DKKm 2003 % 2003 % 1H 2003 % 2003 % 2003 % 2003 % Revenue 2.395 2.555 4.951 2.505 2.486 9.941 Production costs 456 19% 428 17% 885 18% 423 17% 450 18% 1.758 18% Distribution costs 578 24% 659 26% 1.237 25% 597 24% 644 26% 2.478 25% Administrative ex
Slide 29: Cost percentage of revenue 2005-2006
Cost percentage of revenue Q1 Q2 Total Q3 Q4 Total DKKm 2005 % 2005 % 1H 2005 % 2005 % 2005 % 2005 % Revenue 2.219 2.285 4.503 2.265 2.301 9.070 Production costs 412 19% 399 17% 811 18% 384 17% 293 13% 1.488 16% Distribution costs 517 23% 641 28% 1.158 26% 545 24% 634 28% 2.337 26% Administrative ex
Slide 30: Cost percentage of revenue 2007
Cost percentage of revenue Q1 Q2 Total Q3 Q4 Total DKKm 2007 % 2007 % 1H 2007 % 2007 % 2007 % 2007 % Revenue 2.583 2.612 5.194 2.960 Production costs 497 19% 398 15% 895 17% 457 16% Distribution costs 578 23% 590 23% 1.168 22% 584 20% Administrative expenses 377 15% 384 15% 761 15% 358 12% Research
Slide 31: Revenue by quarter (DKKm)
Revenue by quarter (DKKm) Europe FY 2005 Qtr1 06 Qtr2 06 H1 06 Qtr3 06 Qtr4 06 FY 2006 Qtr1 07 Qtr2 07 H1 07 Qtr3 07 Cipralex® 1,963 600 643 1,243 643 675 2,561 673 706 1,379 728 Ebixa® 933 256 283 539 282 311 1,132 317 334 652 357 Azilect® 6 8 16 24 19 27 70 32 37 69 43 Serdolect® - 1 2 3 1 3 7 7 4
Slide 32: Investor Presentation - Financial Results
Investor Presentation Q3 2007 Financial Results
Slide 33: Safe Harbour Statement
Safe Harbour Statement This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions, product approvals and financial performance. Such forward-looking statements are subject to risks, uncertainties and inaccurate
Slide 34: Lundbeck is an international pharmaceutical company specializing in CNS disorders
Lundbeck is an international pharmaceutical company specializing in central nervous system disorders Facts on Lundbeck: Æ Founded by Hans Lundbeck in 1915 Æ An integrated company with core competencies in research, development, production, marketing and sales Æ International presence with pharmaceut
Slide 35: CNS: world's biggest niche
CNS: world’s biggest niche (17% of world pharmaceutical sales)… 2006 CNS market USD Lundbeck focus billion 100.7 (+7%) Depression, N6A 20% Psychosis, N5A (2%) CAGR of 13% 1990-2006 Alzheimer’s disease, N7D 17% (+11%) Parkinson’s disease, N4A 5% (+16%) Sleep, N5B 3% (+12%) 5% (+19%) Alcohol dependenc
Slide 36: Broad CNS portfolio of current products and late-stage projects
… and Lundbeck holds a broad CNS portfolio of current products and projects in late-stage development Launched products Late-stage pipeline Cipralex®, 2002 / Lexapro®, 2002 Lu AA 21004, phase II Depression, N6A (US partner, Forest Labs.) Lu AA24530, phase II Bifeprunox (Solvay), phase III Psychosis,
Slide 37: Sales infrastructure in Europe and International Markets, expanding into US and Japan
Sales infrastructure in place in Europe and International Markets – expanding into US and Japan US: CNS specialist sales force to be established supporting the potential launch of future compounds Europe: Fully fledged CNS sales infrastructure International markets: CNS sales infrastructure in
Slide 38: Financial figures Q3 2007
Financial figures Q3 2007 As percent of total revenue Reported figures (excl. one-off items in brackets) Q3 Q3 10% (2%) Cipralex® (+19%) DKKm 2007 2006 Growth Lexapro® (+46%) Revenue 2,960 2,248 32% 15% 35% (38%) (16%) Ebixa® (+27%) R&D 485 420 16% 0.4% Azilect® (+143%) EBIT 1,079 630 71% 1.6% Serdo
Slide 39: International Markets grew 28% in Q3 2007
International Markets grew 28% in Q3 2007 and continue to increase share of revenue Q3 2004 Q3 2007 International Markets - International Markets – 14% of Group revenue 21% of Group revenue * % of revenue Q3 Q3 in International 2004 2007 Markets Cipralex 35% 56% Ebixa 7% 13% Serdolect - 1% Azilect -
Slide 40: Improving European profitability continuously
Improving European profitability continuously… SG&A margin DKKm / FTE in Europe 6,000 60% Ongoing targeting programme is lowering the number of sales reps 4,000 40% in Europe Increasing revenue with a focus on cost structure is lowering the SG&A margin in Lundbeck’s 2,000 20% subsidiaries In e
Slide 41: International Markets follow same trend
..and International Markets follow same trend SG&A margin DKKm / FTE in Int’l. 3,000 60% Revenue growth with focus on long term cost structure improve 2,000 40% margins Continued growth potential in International Markets 1,000 20% 0 0% 2003 2004 2005 2006 Q3 2007 International Markets revenue (D
Slide 42: Branded market position - Lundbeck's three leading compounds
Branded market position - Lundbecks three leading compounds Cipralex®/Lexapro® Ebixa® (memantine)** USA Europe #1 in volume (August 07) #2 in volume (August 07) #2 in value (August 07) #2 in value (August 07) Europe International Markets* #2 in volume (Q2 07) #1 in volume (August 07) #2 in value (Q2
Slide 43: Cipralex/Lexapro - positive performance in Europe and International markets
Cipralex® / Lexapro® - continued positive performance in Europe and International markets Antidepressant market Europe International markets Market share, value – market growth, volume Market share, value – market growth, volume 20% 20% 20% 20% combined 17.0% 15% 15% 15% 15% Cipralex® 13.8% combined
Slide 44: Lexapro - maintaining branded market position in US
Lexapro® - maintaining branded market position in US Antidepressant market USA Market share, value – market growth, volume 25% 25% combined 22.6% Lexapro is the most prescribed antidepressant in the US 20% 20% Lexapro® 22.3% Marketed by Forest Laboratories, Inc. 15% 15% 10% 10% 5% 5% citalopram
Slide 45: Ebixa (memantine) - second most prescribed anti-alzheimer product
Ebixa® (memantine) – the second most prescribed anti-alzheimer product Anti-alzheimers market Europe International markets Market share, value – market growth, volume Market share, value – market growth, volume 25% 40% 25% 40% combined 22.8% combined 19.9% 20% 20% 30% 30% Ebixa® 15.3% 15% 15% 20% Eb
Slide 46: Azilect - successful introduction in Europe
Azilect® - successful introduction in Europe Anti-parkinsons market shares Europe Market share, value – market growth, volume 5% 5% Azilect® 4.2% Lundbeck has launched Azilect® in 4% 4% more than 20 countries 3% 3% Once daily treatment Approved for monotherapy and 2% 2% adjunct therapy with le
Slide 47: Serdolect - launched in more than 20 countries
Serdolect® - launched in more than 20 countries Value conversion Value conversion driving growth Europe – antipsychotic market in volume in European market DDDm 1500 Serdolect® is developed by Underlying growth in atypical 45% 49% 51% antipsychotics: +5% Lundbeck and the company holds 1000 world
Slide 48: Launch of new compound – Circadin
Launch of new compound – Circadin® Global value market for N5B – USD 5.4 billion European insomnia market 2006 – Lundbeck has rights for approx. Approx. USD 1 billion 80% of European market Approved for treatment of primary 67% insomnia for patient aged 55+ North America Expected launch in fir
Slide 49: Financial guidance
Financial guidance Financial guidance (excl. one-off items) 2006 actual 2007 guidance More than DKK 1,784 million EBIT DKK 2.6 billion 19.3% EBIT margin 25% Approx. DKK 762 million Capex DKK 650 million Page 18
Slide 50: Pharmaceuticals in clinical development
Pharmaceuticals in clinical development Indication Development step Registration Expected Compound Activity Phase I Phase II Phase III application launch Schizophrenia Dopamine/ Serdolect US serotonin 2008 2009 Schizophrenia Dopamine/ Bifeprunox serotonin 2009+ Stroke Desmoteplase Plasminogen activa
Slide 51: Late stage pipeline – Bifeprunox for schizophrenia
Late stage pipeline – Bifeprunox (phase III) for the treatment of schizophrenia Bifeprunox is a latest generation atypical antipsychotic Inlicensed from Solvay in Belgium and is jointly developed with Solvay and Wyeth (North American rights) Strategic fit: Fits well into Lundbeck’s position wi
Slide 52: Late stage pipeline - Desmoteplase for ischaemic stroke
Late stage pipeline - Desmoteplase (phase III) for the treatment of ischaemic stroke Potentially first compound to treat patients Prevalence within an up to 9 hours treatment window Stroke patients, mio. Inlicensed from PAION, Germany 0,9 0,6 0,6 0,6 0,2 0,3 Lundbeck holds world wide rights ex
Slide 53: Late stage pipeline - Nalmefene for alcohol dependence
Late stage pipeline - Nalmefene (phase III) for the treatment of alcohol dependence Potentially new treatment paradigm Prevalence Inlicensed from BioTie, Finland Estimated 5-6% of population suffers from Lundbeck holds world wide rights alcohol abuse or heavy drinking excluding North America,
Slide 54: Appendix
The specialist in psychiatry J wndbeck and pioneer in neurology
Slide 55: More information please contact Investor Relations
More information please contact Investor Relations Jacob Tolstrup Director, Investor Relations Tel: +45 36 43 30 79 Fax: +45 36 43 82 62 jtl@lundbeck.com Page 24
Slide 56: Lundbeck share
Lundbeck share Share information: Trading code: Free float (approximately 62m Reuters (LUN.CO) / Bloomberg (LUN DC) shares) is traded 2+ times over ISIN Number DK0010287234 Unsponsored ADR programmes annually (daily trade of HLUKY, CUSIP 40422M107 approximately 0.7m) Index examples: End of
Slide 57: Revenue – by product / by region
Revenue – by product / by region International Total Europe USA Markets Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 DKKm 2007 2006 2007 2006 2007 2006 2007 2006 Total revenue 2,960 2,248 1,408 1,269 701 482 569 443 Growth 32% 11% 45% 28% Cipralex® 1,046 878 728 643 - - 318 235 Growth 19% 13% 35% Lexapro® 699 479 - - 69
Slide 58: Revenue, 5 year figures
Revenue, 5 year figures Revenue, DKK million Growth, % 2002 2003 2004 2005 2006 2003 2004 2005 2006 Total revenue 9,488 9,941 9,733 9,070 9,221 5% (2)% (7)% 2% Cipralex® 78 645 1,661 2,625 3,508 729% 157% 58% 34% Lexapro® 777 1,928 2,420 2,552 1,923 148% 26% 5% (25)% Ebixa® 29 286 722 1,105 1,361 89
Slide 59: Revenue, quarterly figures
Revenue, quarterly figures Revenue, DKK million Growth, Y/Y, % Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2006 2007 2007 2007 2006 2007 2007 2007 Total revenue 2,543 2,583 2,612 2,960 10% 16% 19% 32% Cipralex® 937 990 1,027 1,046 26% 18% 20% 19% Lexapro® 525 628 641 699 (16)% 30% 47% 46% Ebixa® 374 391 409 432 22% 26%
Slide 60: Cost, 5 year figures
Cost, 5 year figures DKK million Growth, Y/Y, % 2002 2003 2004 2005 2006 2003 2004 2005 2006 Revenue 9,488 9,941 9,733 9,070 9,221 5% (2)% (7)% 2% Production costs 1,818 1,758 1,725 1,488 1,646 (3)% (2)% (14)% 11% Distribution costs 2,458 2,478 2,302 2,337 2,419 1% (7)% 2% 4% Administration costs 1,
Slide 61: Cost, quarterly figures
Cost, quarterly figures DKK million Growth, Y/Y, % Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2006 2007 2007 2007 2006 2007 2007 2007 Revenue 2,543 2,583 2,612 2,960 10% 16% 19% 32% Production costs 417 497 398 457 42% 18% (9)% 23% Distribution costs 685 578 590 584 8% (2)% (9)% 17% Administration costs 419 377 384 35
Slide 62: Lundbeck hedges the USD on a rolling basis
Lundbeck hedge the USD on a rolling basis up to 12 months ahead – 2007 USD hedge rate of 5.75 Actual rates Forward rates 10 9 8 7.90 7 6.68 6 6.00 5.89 5.88 5.76 5.70 5.66 5.52 5.48 5 5.29 Quarterly figures 4 '03 '04 '05 '06 Q1 Q2 Q3 Q4 Q1 Q2 Q3 '07 '07 '07 '07 '08 '08 '08 Average US$ exchange rate
Slide 63: Lundbeck recognition of income from Forest
Lundbeck recognition of income from Forest Settlement to full royalty P&L Expected sales price Balance P&L (prepayment at USD spot at bulk delivery) Minimum price P&L* At bulk delivery At US sales * Hedging effect at bulk delivery recognised on P&L: Gain/loss from difference in delivery at expected
Slide 64: Depression – Cipralex/Lexapro best-in-class
Cipralex® / Lexapro® - best-in-class Comparator Presented Main outcome Venlafaxine XR SCNP, April 2003 Escitalopram was at least as effective and was better tolerated than (Effexor) venlafaxine XR.Escitalopram treated patients reached sustained response and remission significantly faster. Venlafaxin
Slide 65: Anxiety – Cipralex/Lexapro best-in-class
Cipralex® / Lexapro® - best-in-class Comparator Presented Main outcome Paroxetine SCNP, April 2003 Escitalopram was significantly superior to paroxetine after 24 weeks of (Paxil) treatment of SAD and showed fewer discontinuation effects. Anxiety Paroxetine ACNP, December 2003 Escitalopram was as eff
Slide 66: Global IP position
Global IP position Europe Bifeprunox: Compound patent in majority of countries to Feb. 2022 Escitalopram: Compound patent in majority of countries to May-June 2014. Process patent in majority of countries to June 2014 Memantine: Data exclusivity until 2012. Use patent in major countries to April 201
Slide 67: Worldwide pharmaceutical market 2006
Worldwide pharmaceutical market 2006 USD 605.1 billion (+7%) 8% (+5%) 17% (+7%) 3% (+3%) 5% (+6%) (N) CNS 5% (+4%) (C) Cardiovascular (A) Alimentary (J) Anti-Infectives 6% (+8%) 16% (+5%) (R) Respiratory (L) A+Immun (B) Blood 8% (+5%) (M) Muscolo-Skeletal (G) G.U.& Sex Hormones (D) Dermatologicals O
Slide 68: Worldwide CNS market 2006
Worldwide CNS market 2006 USD 100.7 billion (+7%) 5% (16%) 21% (+2%) 3% (+16%) N6A Antidepressants N5A Antipsychotics 3% (-4%) N3A Anti-Epileptics 3% (+12%) N2B Non-Narcotic Analgesics 3% (-5%) N2A Narcotic Analgesics 3% (+6%) N5B Hypnotics & Sedatives N2C Anti-Migraine Preps 5% (+19%) 17% (+11%) N5
Slide 69: Alzheimer's (N7D-2006) market
Alzheimer’s (N7D-2006) – USD 4.6 billion (+16%) Value Market Shares of N7D Europe M12 2006 Rest of world Rivastigmine USA M12 2006 15% North America Memantine 55% Galantamine Europe Donepezil 30% 0% 10% 20% 30% 40% 50% 60% Source: IMS Health, May 2007, retail Leading product Marketing Corporation Sa
Slide 70: Depression (N6A-2006) market
Depression (N6A-2006) – USD 20.3 billion (+2%) North Value Market shares of N6A America CITALOPRAM Rest of world 67% 11% FLUOXETINE PAROXETINE DULOXETINE Europe M12 2006 USA M12 2006 ESCITALOPRAM BUPROPION SERTRALINE Europe VENLAFAXINE 22% 0% 5% 10% 15% 20% 25% Source: IMS Health, May 2007, retail o
Slide 71: Anti-Parkinson's (N4A - 2006) market
Anti-Parkinson’s (N4A - 2006) – USD 3.1 billion (+12%) Value Market Shares of N4A - Europe Europe Europe M12 2006 OTHERS 38% North NMDA ANTAGONISTS America MAOI 29% LEVODOPA DERIVATE DOPAMINE AGONISTS COMT INHIBITORS ANTICHOLINERGICS Rest of world 0% 10% 20% 30% 40% 50% 60% 33% Value Market shares o
Slide 72: Antipsychotics (N5A-2006) market
Antipsychotics (N5A-2006) – USD 18.1 billion (+11%) North Value Market Shares of N5A Europe M12 2006 America Aripiprazole USA M12 2006 65% Rest of world Risperidone 11% Olanzapine Amisulpride Clozapine Ziprasidone Europe Quetiapine 25% 0% 5% 10% 15% 20% 25% 30% 35% 40% Source: IMS Health, May 2007,
Slide 73: Hypnotics (N5B-2006) market
Hypnotics (N5B-2006) – USD 5.4 billion (+19%) North Value Market Shares of N5B America 67% Europe Q4 2006 USA Q4 2006 Zaleplon Europe Zopiclone 18% Zolpidem Rest of world 15% 0% 10% 20% 30% 40% 50% 60% 70% 80% Source: IMS Health, October 2007, retail Leading product Marketing Corporation Sales 2006
Slide 74: Alcohol (N7E-2006) and Stroke (B1D-2006) markets
Alcohol (N7E-2006) – USD 151 million (+20%) Europe 54% North America 28% Rest of world 18% Stroke, Fibrinolytics (B1D - 2006) – USD 675 million (+1%) Europe North 31% America 51% Rest of world 18% Page 43