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Business Wire
15 hours ago
- Business
- Business Wire
LEO Pharma Delivers 7% Revenue Growth at CER in H1 2025 and Achieves Key Milestones Enabling Future Growth
BALLERUP, Denmark--(BUSINESS WIRE)--In H1 2025, LEO Pharma delivered robust growth and significantly improved profitability, enabling an increase to the financial outlook for sales growth and adjusted EBITDA margin in 2025 towards the upper-end of previously communicated expectations. In July, the FDA approval of Anzupgo® and partnership with Boehringer Ingelheim for SPEVIGO®, marked major strategic milestones demonstrating LEO Pharma's commitment to advancing innovation in dermatology. Highlights LEO Pharma's revenue increased by 6% year-on-year to DKK 6,789 million, and by 7% at constant exchange rates (CER) entirely driven by organic growth. The revenue growth was led by North America (+28% at CER), with Europe (+1% at CER) and Rest of World (+4% at CER) also contributing to the overall growth. Revenue from the Dermatology portfolio grew by 8% (CER) year-on-year, driven by the Strategic brands Adtralza ® /Adbry ® and Anzupgo ®, which combined had a revenue increase of 51% (CER). Sales in the Critical Care portfolio (formerly called 'Thrombosis') declined by 3% (CER) year-on-year, affected by the reversal of sales discounts in the same period last year. Operating profit improved significantly, with adjusted EBITDA reaching DKK 1,456 million in H1 2025, reflecting a margin of 21% (H1 2024: 9%) excluding the STAT6 partnership upfront payment from Gilead received in January and other non-recurring items. Net profit for H1 2025 was DKK 1,977 million (H1 2024: negative DKK 761 million), including non-recurring items. Free cash flow was DKK 1,469 million for H1 2025 (H1 2024: negative DKK 779 million), and net interest-bearing debt was reduced to DKK 9,676 million (YE 2024: DKK 11,115 million). Excluding M&A, free cash flow was negative DKK 158 million driven by timing and non-recurring one-offs. On 23 July, LEO Pharma received FDA approval of Anzupgo® (delgocitinib) for the treatment of chronic hand eczema, enabling launch of the product in the U.S. by Q3 2025 as the first and only topical pan-JAK inhibitor. Additionally, LEO Pharma on 9 July announced positive interim results from the phase 3 ADHAND trial for Adtralza®/Adbry® (tralokinumab). On 14 July, LEO Pharma announced a partnership with Boehringer Ingelheim, granting LEO Pharma an exclusive global license for the development and commercialization of SPEVIGO® (spesolimab), a first-in-class IL-36R antagonist already approved and marketed for generalized pustular psoriasis (GPP). The partnership aims to accelerate and broaden access for patients by leveraging LEO Pharma's global dermatology platform. The transaction is expected to close in H2 2025 with SPEVIGO® set to become the third Strategic brand in LEO Pharma's portfolio, alongside Adtralza®/Adbry® and Anzupgo®. For the 2025 outlook, group revenue growth is now expected to be 7-9% at CER (previously: 6-9%) and the adjusted EBITDA margin is now expected to be 16-18% (previously: 15-18%). This reflects the FDA approval of Anzupgo® and year-to-date business performance. The outlook does not include any impact from the partnership for SPEVIGO®, pending closing of the transaction. LEO Pharma is in its strongest position in years – financially, strategically, and in terms of our portfolio and pipeline activities. The FDA approval of Anzupgo® represents a major step forward, and together with the addition of SPEVIGO® to our portfolio, we are further unlocking the value of our global platform, highlighting our commitment to driving innovation for patients.' CEO Christophe Bourdon. About LEO Pharma LEO Pharma is a global leader in medical dermatology. We deliver innovative solutions for skin health, building on a century of experience with breakthrough medicines in healthcare. We are committed to making a fundamental difference in people's lives, and our broad portfolio of treatments serves close to 100 million patients in over 70 countries annually. Head-quartered in Denmark, LEO Pharma has a team of 4,000 people worldwide. LEO Pharma is co-owned by majority shareholder the LEO Foundation and, since 2021, Nordic Capital. For more information, visit
Business Wire
15-05-2025
- Business
- Business Wire
Three-month interim report (Q1) 2025 (Unaudited): LEO Pharma Delivers 9% Revenue Growth at Constant Exchange Rates and Doubles Adjusted EBITDA Margin to 16%
BALLERUP, Denmark--(BUSINESS WIRE)--In Q1, LEO Pharma continued its robust growth, driven by dermatology, and made significant strategic progress. This included expanding the launch of Anzupgo® to five markets, advancing innovation through the newly formed strategic partnership with Gilead for the STAT6 program, and significantly improving profitability with a return to a positive net profit. Q1 2025 highlights LEO Pharma's revenue increased by 10% year-on-year to DKK 3,373 million, and by 9% at constant exchange rates (CER). The revenue growth was led by North America (+45% at CER), with Europe (+2% at CER) and Rest of World (+5% at CER) also contributing to the overall growth. Dermatology portfolio revenue grew by 10% (CER) year-on-year, driven by the Strategic brands, Adtralza®/Adbry® and Anzupgo®, which together saw a revenue increase of 73% (CER). Sales in the Thrombosis portfolio declined by 1% (CER) year-on-year, negatively impacted by order timing. Operating profit improved significantly, with adjusted EBITDA reaching DKK 545 million in Q1 2025, reflecting a margin of 16% (Q1 2024: 8%) excluding the upfront payment from Gilead and other non-recurring items. Net profit for the quarter was DKK 1,742 million (Q1 2024: negative DKK 366 million), including non-recurring items. Free cash flow was positive DKK 1,386 million for Q1 2025 (Q1 2024: negative DKK 571 million), and net interest-bearing debt was reduced to DKK 9,750 million (YE 2024: DKK 11,115 million). Excluding one off M&A-related payments, free cash flow in Q1 2025 was negative DKK 241 million. In Q1, LEO Pharma reported positive results from the DELTA TEEN and DELTA China trials, marking the fifth and sixth consecutive successful phase 3 trials for delgocitinib (brand name: Anzupgo®) in chronic hand ezcema. Additionally, in January, LEO Pharma announced a strategic partnership with Gilead Sciences to accelerate the pre-clinical STAT6 program. The 2025 financial outlook for revenue growth of 6-9% (CER) and an adjusted EBITDA margin of 15-18% is unchanged and confirmed. "We have seen a good start to 2025, with encouraging progress in the ongoing launch of Anzupgo® and key milestones achieved for our innovation pipeline. A significant highlight is the acceleration of the STAT6 program through our new partnership with Gilead. Additionally, the return to a positive net result marks another key milestone for the quarter, as we continue to develop the foundations for LEO Pharma's long-term financial strength,' says Christophe Bourdon, CEO of LEO Pharma. Q1 2025 Financial overview About LEO Pharma LEO Pharma is a global leader in medical dermatology. We deliver innovative solutions for skin health, building on a century of experience with breakthrough medicines in healthcare. We are committed to making a fundamental difference in people's lives, and our broad portfolio of treatments serves close to 100 million patients in over 70 countries annually. Headquartered in Denmark, LEO Pharma has a team of 4,000 people worldwide. LEO Pharma is co-owned by majority shareholder the LEO Foundation and, since 2021, Nordic Capital. For more information, visit
