Lundbeck raises its 2026 guidance again as Vyepti grows 45%. 11 November 2026 Lundbeck is a Danish drugmaker that specialises in diseases of the brain. Its four largest drugs are Rexulti, Vyepti for preventing migraine, Brintellix (sold as Trintellix in the US) for depression, and its long-acting Abilify injections. It published its report for the first nine months of 2026 on 10 November, a day earlier than the date in its own financial calendar. Six minutes before, it had announced that it was raising its guidance, its own forecast for the year. Revenue was DKK 20,191m, up 13% at constant exchange rates, which leave out currency moves and hedging, and up 9% in Danish kroner. Adjusted EBITDA rose 19% at constant exchange rates, and 12% in kroner, to DKK 7,026m. Earnings per share rose 30% to DKK 4.11. Revenue guidance. In February Lundbeck guided revenue growth of 5% to 8% at constant exchange rates for 2026. It raised that to 7% to 9% in May, kept it in August and raised it again on 10 November, to 11% to 12%. It puts the raise down to Vyepti in the US and to its partner markets, 27 markets outside its key ones where partners took over its sales at the end of 2025. Revenue grew 13% in the first nine months, but that includes DKK 470m of one-off sales in the first quarter, the inventory those partners built up when they took over, which the guidance had allowed for; without them, growth was 11%. In the third quarter alone revenue grew 7% and Rexulti 6%. Lundbeck expects the fourth quarter to grow more slowly than the first nine months: the one-off sales will not recur, generic competition for Trintellix is expected from December 2026, and Rexulti faces tougher competition. In Danish kroner it expects revenue growth for the year to be about 4 percentage points lower than at constant exchange rates. Vyepti. Vyepti, an antibody given as an intravenous infusion to prevent migraine, grew 45% at constant exchange rates to DKK 4,533m in the first nine months. In the third quarter it brought in DKK 1,668m, up 44%, close to Rexulti's DKK 1,774m. The US makes up 87% of its sales. Total prescriptions rose 39% from a year earlier through September. Lundbeck puts its share of the anti-CGRP market, the migraine drugs that act on CGRP, a molecule involved in migraine attacks, at about 12.4% in August. Japan approved it in September. Rexulti grew 13% in the nine months and the Abilify injections 6%, or 4% without the one-off sales: the version given every two months rose 72%, while the monthly Abilify Maintena fell 4%. Brintellix/Trintellix was flat. Its first-quarter sales were lifted by the one-off sales to partners, and without them its nine-month sales fell 4%. By region. The growth came mostly from the US, where revenue rose 18% at constant exchange rates in the nine months to DKK 11,217m, more than half of the group's revenue, and 15% in the third quarter. In Europe, revenue grew 9% in the nine months, or 3% without the one-off sales to partners, and was flat in the third quarter, with Lundbeck's four main brands there up 5% and its older brands down 15%. In International Operations, Lundbeck's markets outside the US and Europe, growth was 5% in the nine months and 1% in the third quarter; without the one-off sales, Lundbeck puts the region's nine-month growth at zero. Profit guidance. Adjusted EBITDA is operating profit before depreciation, amortisation and the items Lundbeck treats as one-off, such as restructuring, impairments and the reversal of a provision on Vyepti inventory. Lundbeck guided growth of 4% to 12% at constant exchange rates for 2026 in February and 8% to 14% in May, and now guides 15% to 19%; in Danish kroner it expects growth about 9 percentage points lower. It grew 19% in the nine months, or 12% without the profit on the one-off sales to partners. The extra revenue is weighted towards Vyepti, which costs more to make than Lundbeck's mainly oral drugs. With that and the commissions it pays its partners, Lundbeck now expects an adjusted gross margin of 86% to 87%, against about 87% before. It also says it has moved some commercial spending into the fourth quarter, after spending less than planned earlier in the year. Net profit rose 30% to DKK 4,073m in the nine months. Profit before tax rose by DKK 1,263m, and about half of that came from net financial expenses falling from DKK 773m to DKK 119m, which Lundbeck puts down mainly to currency gains on the dollar and lower interest costs; a year earlier the dollar had weighed on them. The third quarter carried an impairment of DKK 161m on the planned sale of a production site in Italy. Free cash flow was DKK 4,557m in the nine months, against DKK 4,151m a year earlier, and net debt fell to DKK 5,147m at the end of September from DKK 9,085m a year earlier. Lars Fruergaard Jørgensen joined Lundbeck's board as an observer on 10 November. He is expected to be elected a member at the 2027 annual general meeting, subject to shareholders' approval, and the board intends him to succeed Dorothea Wenzel as chair; she steps down in connection with that meeting. For Lundbeck's other figures, see its company page.

Many people with migraine unaware the disease can worsen, new survey finds. New survey by the nonprofit Association of Migraine Disorders highlights the need for better education about migraine progression and treatment. Providence, RI, Nov. 10, 2026 (GLOBE NEWSWIRE) - According to a new patient-focused survey by the nonprofit Association of Migraine Disorders, many people living with migraine do not realize it can be a progressive disease, meaning migraine attacks and symptoms can become more frequent and severe over time. Some people experience migraine chronification, when episodic migraine progresses to chronic migraine. People with chronic migraine experience attacks more frequently, often with more severe pain and symptoms and greater disability. In the survey of 459 people with self-reported migraine, half of the respondents said they had not always known that migraine can be a progressive disease. Another 18 percent said they hadn't known this at all. Risk factors associated with chronification include increasing headache frequency, medication overuse headache, anxiety or depression, sleep issues, frequent nausea, allodynia, and stress. Many delay treatment, despite migraine's impact Migraine management includes acute treatments, which are used at the onset of an attack to relieve pain and other symptoms, and preventive treatments, which are taken regularly to help reduce attack frequency, severity, and/or related disability. An acute treatment should be part of every migraine treatment plan, and preventive treatment may be recommended for people who experience four or more migraine or headache days per month. Despite the role these treatments can play in managing migraine, about 35 percent of survey respondents said they delayed seeking acute or preventive treatment. Migraine's impact on daily life More than 85 percent of survey respondents reported that migraine has had an extreme or significant impact on their family life, work, and daily functioning. With that, 68 percent said they were moderately or extremely worried that migraine would get worse in the future. "We want people living with migraine to understand that the disease can change over time, but worsening symptoms are not something they simply have to accept," said Kylie Gagan, MHD, BSN, RN, Executive Director of Education for the Association of Migraine Disorders. "These survey findings highlight a clear need for greater education about migraine progression and the treatment options available. By helping people recognize changes in their disease and understand when to seek care, we can empower them to take a more proactive role in managing migraine and protecting their quality of life." Providing education and closing the gap While migraine can get worse for some people, it can also improve with effective preventive treatment. Survey respondents said better education about migraine progression, more information about available treatments, improved access to healthcare providers, and encouragement from a doctor or specialist would have helped them seek treatment sooner. About The Association of Migraine Disorders The Association of Migraine Disorders is a nonprofit organization dedicated to improving the lives of people living with migraine through education, awareness, and research. AMD provides medically reviewed, evidence-based educational materials and resources for patients and healthcare professionals. This survey and accompanying blog were created with financial support from Lundbeck. The Association of Migraine Disorders and Lundbeck developed the survey collaboratively.