Year in review

Annual Reporting 2022

2022 saw exceptional growth of our strategic brands and accelerated revenue growth across our three regions. We continue to make good progress on our Expand and Invest to Grow strategy and revitalizing our pipeline, with two projects entering clinical phase II trials.

 

 

Letter to Shareholders

Deborah Dunsire, President & CEO and Lars Søren Rasmussen, Chair of the Board

In 2022, we stayed the course on our strategy to Expand and Invest to Grow. We are learning and adapting as we forge ahead, enabling greater impact across all that we do. Strong focus on execution of our strategic brands resulted in significant revenue growth. Our newest strategic brand, Vyepti®, continues to grow strongly, gainingmomentum due to its proven efficacy for patients.

Financial highlights

2022 saw exceptional growth of our strategic brands and accelerated revenue growth across our three regions. We continue to make good progress on our Expand and Invest to Grow strategy and revitalizing our pipeline, with two projects entering clinical phase II trials.

12,135

Revenue from strategic brands (DKKm)

2,852

Profit from operations (EBIT) (DKKm)

2,183

Net debt (DKKm)

18,246

Total revenue (DKKm)
 

1,916

Net profit (DKKm)
 

4,663

Operating profit before depreciation and amortization (EBITDA) (DKKm)

Strategy update

We have taken significant strides to expand our operating space through the acquisitions of Abide and Alder in 2019, which gave us the platforms needed to expand our areas of focus in neuroscience. With the 2020 launch of Vyepti® in the U.S. and the global roll-out which was initiated in 2021, we are establishing a new frontier in migraine prevention for the patients that need it the most and expanding our presence into protein-based therapies.

 

Furthermore, we are continuously expanding our existing portfolio of medicines into new markets. The changes we made to how we approach R&D enable us to de-risk our internal pipeline compounds in early development. We utilize an experimental medicine approach to identify the effects of a drug in carefully selected patient populations, to find the most efficient clinical pathway powered by biomarkers and study designs and advance the most promising drug candidates into full development.

 

The geographical expansion of Vyepti® and the continuing efforts to grow and expand strategic brands, along with several other life cycle management projects, are all crucial to our future. We have made choices on where to accelerate and enhance the use of digital solutions within our operations and R&D. Also, we have taken steps to fortify our winning culture with increased agility, collaboration, diversity, and inclusion. These are just a few of the many actions that are helping us deliver on the promise of our strategy to yield sustainable, long-term profitable growth.

Our Business Model

Jenna Humphries, living with migraine

Living with migraine: A bit of understanding

Sustainability highlights

Resilience in unprecedented times

 

We live in unprecedented times, where within a few short years, we have had to navigate our business through a global pandemic, a war in Europe, high levels of inflation, and other forms of global uncertainty. Making the right decisions to secure a long-term, sustainable future for our business has never been more important than in 2022.  

+8 million

Our portfolio of products reaches more than 8 million people on a daily average.

98.6%

Employees completed the annual e-learning on the Code of Conduct.

 

29%

Reduction in scope 1 & 2 carbon emissions vs. 2019 SBTi target baseline.

65%

Recovery and reuse of the organic compounds used in chemical production.

43.1%

Gender split for all people managers globally of 43.1% women and 56.9% men.

5.8

Accidents per one million working hours at production sites

Downloads

Please find below download links to all the published 2022 reports, incl. Corporate Governance Report, Remuneration Report, Sustainability Report, and Annual Report.

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