H. Lundbeck AS Ordinary Shares - Class B

HLUN B: XCSE (DNK)

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Lundbeck Earnings: Strong Growth for Strategic Brands, but Generic Pressure Weighs on Outlook

Rachel Elfman

Feb 6, 2026

Lundbeck posted 2025 revenue of DKK 24.6 billion, up 13% at constant exchange rates, while adjusted EBITDA was up 24% to DKK 7.9 billion. Management is guiding to 2026 revenue growth of 5%-8% at constant exchange rates, or 2.5% at the midpoint, accounting for hedging and exchange rate impacts.

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H. Lundbeck AS Ordinary Shares - Class B

Lundbeck Earnings: Strong Growth for Strategic Brands, but Generic Pressure Weighs on Outlook

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