LEO Pharma Achieves Remarkable Growth in Dermatology Sales
LEO Pharma's Impressive Financial Results
In the latest nine months of operations, LEO Pharma has reported remarkable revenue growth of 11% based on constant exchange rates (CER). This robust performance is underscored by a 13% increase in the dermatology portfolio. Key milestones have been achieved globally, including the European Commission’s approval of Anzupgo® (delgocitinib) cream for adults facing moderate to severe chronic hand eczema (CHE), and the submission of a New Drug Application (NDA) in the U.S. for the same product.
Q3 2024 Financial Highlights
In the third quarter of 2024, LEO Pharma's revenue surged 10%, reaching DKK 3,057 million compared to DKK 2,791 million in Q3 2023. The dermatology segment alone witnessed a revenue increase of 12%, totaling DKK 2,479 million, primarily driven by robust sales of Adtralza®/Adbry® (tralokinumab) for atopic dermatitis. Notably, sales of Adtralza®/Adbry® increased a substantial 70% due to its continued market uptake, particularly in North America.
Regional Growth and Performance
LEO Pharma's growth has been widespread, with North America showing a staggering increase of 34%, Europe 6%, and the Rest of the World 4% in CER. North America remains the primary revenue contributor, generating DKK 610 million in Q3 2024, up from DKK 458 million the previous year. Additionally, other products such as those targeting thrombosis also noted a 6% revenue growth, demonstrating the overall positive trajectory of the company.
Strategic Developments and Milestones
Importantly, LEO Pharma has made significant progress in advancing its strategic priorities. The unfurling of delgocitinib cream in select European markets marks a critical step in expanding its commercialization efforts. Moreover, the acceptance of the NDA for delgocitinib cream by the Food and Drug Administration (FDA) in the U.S. represents a monumental milestone.
Clinical Advancements at EADV Congress
LEO Pharma showcased its commitment to dermatology at the European Academy of Dermatology and Venereology (EADV) congress with an industry-leading presence, featuring five late-breaking abstracts and 23 posters. Among the highlights were pivotal findings from the DELTA FORCE trial, which showed significant efficacy of delgocitinib cream over oral treatments for severe CHE, and interim data from the TRACE study highlighting tralokinumab's effectiveness.
Commitment to Sustainability and Future Growth
As part of its vision for sustainable growth, LEO Pharma is dedicated to minimizing its environmental impact, aiming to achieve net-zero emissions by 2050. The company has developed a decarbonization plan in alignment with the Paris Agreement, reflecting its proactive approach to corporate responsibility.
About LEO Pharma
Founded in 1908, LEO Pharma is committed to enhancing dermatological care globally. With a mission to support individuals with skin conditions, the company continually invests in research and development, offering a comprehensive range of therapies. Headquartered in Denmark, LEO Pharma employs approximately 4,000 individuals dedicated to serving patients globally. The company reported net sales of DKK 11.4 billion in 2023, exemplifying its strong market presence and commitment to excellence in dermatological solutions.
Frequently Asked Questions
What recent achievements has LEO Pharma made?
LEO Pharma has achieved a revenue growth of 11% during the first nine months of operations in 2024 and received approval for Anzupgo® cream for chronic hand eczema.
How much did LEO Pharma's revenue increase in Q3 2024?
The company's revenue grew by 10%, totaling DKK 3,057 million compared to the previous year.
What contributed to the revenue growth in dermatology?
The revenue from dermatology increased by 12%, driven primarily by strong sales of Adtralza®/Adbry® for atopic dermatitis.
What is LEO Pharma's sustainability commitment?
LEO Pharma aims to achieve net-zero emissions by 2050 and has initiated a decarbonization plan in accordance with the Paris Agreement.
Where is LEO Pharma headquartered?
LEO Pharma is headquartered in Denmark and operates globally with a dedicated team of approximately 4,000 employees.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
