H. Lundbeck AS Ordinary Shares - Class B

HLUN B: XCSE (DNK)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	LOCK\|.BZ	LOCK\|&l	LOCK\|sw&>>$

Lundbeck Earnings: Solid Growth for Strategic Brands; Generic Delay Supports Near Term

Rachel Elfman

May 14, 2026

Lundbeck's first-quarter revenue grew 21% at constant exchange rates. Adjusting for a one-time inventory build tied to the transition of 27 smaller markets to three regional partners, the underlying growth was about 13%. Revenue guidance was raised by 150 basis points at the midpoint.

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H. Lundbeck AS Ordinary Shares - Class B

Lundbeck Earnings: Solid Growth for Strategic Brands; Generic Delay Supports Near Term

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