Denmark’s Lundbeck A/S has bucked the recession and posted second quarter revenue up 18% at constant exchange rates to 3.4 billion kroner as key drugs Cipralex (escitalopram; up 12% to 1.3 billion), Ebixa (memantine; up 18% to 539 million) and Azilect (rasagiline; up 43% to 88 million) all witnessed double-digit growth, and says it maintains its financial guidance for the full year.

In addition, the US arm contributed its first full quarter with sales of 400 million kroner and, following the acquisition of the UK’s LifeHealth Limited, its new offering Xenazine (tetrabenazine) for chorea associated with Huntington's disease also contributed 81 million kroner.

Operating profits before depreciation and amortisation were 872 million kroner for the period, corresponding to an EBITDA margin of 25%.

Lundbeck currently has two compounds under review in the USA. Serdolect (sertindole) for schizophrenia is still sitting with the agency after it requested additional data to determine the “appropriate patient population”, while Sabril (vigabatrin) for treating seizures should gain approval “within months” when discussions over labelling have been completed.

Meanwhile, there was bad news in June after it was announced the new antidepressant Lu AA21004 is being delayed 18-24 months because the first pivotal trial failed to reach significance for the lowest dose. Lundbeck says the submission timelines will now be extended as it needs to establish the “most appropriate dose” alongside partner Takeda. This year has also seen it terminate all joint R&D activities for Solvay’s schizophrenia compound bifeprinox, though it says its financial investment in this programme was “modest”.

However, the company is holding out hope for four additional products in Phase III – desmoteplase, nalmefene, IV carbamazepine and clobazam – with a second-generation major depressive disorder drug Lu Aa24530 highlighted in Phase II.

Lundbeck estimate revenues for the full year of 13.1-13.6 billion kroner.