LEO Pharma Reports Double-Digit Growth Driven by Dermatology Portfolio
Key Insights
LEO Pharma's revenue grew by 11% in the first nine months of 2024, with dermatology products leading the increase at 13%.
Delgocitinib cream (Anzupgo®) received European Commission approval for chronic hand eczema (search) and an NDA was filed in the U.S. for the same indication.
Tralokinumab (Adtralza®/Adbry®) sales increased by 70%, driven by strong uptake in North America for the treatment of atopic dermatitis (search).
LEO Pharma announced an 11% revenue increase in the first nine months of 2024, driven by a 13% growth in its dermatology portfolio. This growth reflects increasing patient access to LEO Pharma's treatments and strategic advancements in key markets.
Financial Performance
In Q3 2024, revenue reached DKK 3,057 million, a 10% increase compared to Q3 2023 (DKK 2,791 million). Dermatology revenue specifically grew by 12% to DKK 2,479 million, fueled by the strong performance of Adtralza®/Adbry® (tralokinumab) in the atopic dermatitis (search) market. Tralokinumab revenue surged by 70%, particularly in North America, where revenue reached DKK 610 million, a 34% increase. Thrombosis revenue also saw a 6% increase, driven by European sales.
Regulatory and Commercial Milestones
A significant milestone was the European Commission's approval of delgocitinib cream (Anzupgo®) for adults with moderate to severe chronic hand eczema (search) (CHE). The commercialization of delgocitinib has commenced with launches in Germany and Denmark. Furthermore, the U.S. FDA accepted the New Drug Application (NDA) for delgocitinib cream for CHE, and the Adbry autoinjector was launched for atopic dermatitis (search) treatment in the U.S.
Christophe Bourdon, CEO of LEO Pharma, stated, "We are very satisfied with the sales growth in the first nine months of 2024, reflecting that more people than ever are benefiting from our treatments... Along with the recent filing of Enstilar in China, we are cementing our worldwide presence and transforming LEO Pharma into a truly global company."
Expanding Global Reach
LEO Pharma has submitted an NDA in China for Enstilar® for adults with plaque psoriasis (search), further expanding its global footprint. The company also presented extensive data at the European Academy of Dermatology and Venereology (EADV) congress, including data from the DELTA FORCE trial, which demonstrated superior efficacy of topical delgocitinib cream compared to systemic treatment in severe CHE. Interim data from the TRACE study showed that tralokinumab reduced the severity of moderate-to-severe atopic dermatitis (search) in the head and neck region. Phase 2A data comparing temtokibart and dupilumab in moderate to severe AD patients was also presented.
Strategic Initiatives
LEO Pharma is prioritizing further expansion of delgocitinib, including exploring new indications, reformulations, and combinations. The company is also implementing prioritization initiatives in 2024, which may impact up to 250 positions, to free up resources and support earnings ambitions. LEO Pharma is committed to achieving net-zero emissions by 2050, aligning its decarbonization plan with the Paris Agreement.