Lundbeck lifts 2026 outlook, pointing to US Vyepti and partner business

H. Lundbeck has lifted its financial outlook for 2026, now predicting revenue growth of 11-12% at constant exchange rates. It had previously guided to 7-9%. The Copenhagen-based company announced the change on 10 November.

The profit forecast moved further. Adjusted EBITDA is now expected to grow by 15-19%, against an earlier range of 8-14%. Arithmetically, the bottom of the profit range has risen by seven percentage points and the top by five, while the revenue range has moved up by four points at the low end and three at the high end.

Lundbeck puts the upgrade down chiefly to Vyepti sales in the US, which it says have stayed strong, and to its Partner Markets business, which it says is doing better than it had anticipated. The announcement gives no breakdown of how much each contributed, and no product-level sales figures.

The company also guided to research and development spending of roughly DKK 5.6-5.7 billion this year. Lundbeck released the update as inside information under the EU Market Abuse Regulation, before its Q3 financial report, which is where the detailed quarterly numbers will appear.