Lundbeck Q1 opg profit increases 46 pct to 658 mln dkr, beats consensus UPDATE |
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Wed, 09 May 2007 08:49
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(Updating with phase 1 trial with drug candidate)COPENHAGEN (Thomson Financial) - Danish pharmaceutical group Lundbeck AS posted an operating profit of 658 mln dkr, up 46 pct from a year earlier.Market expectations were for an operating profit of 647 mln dkr according to a survey of analysts from RB Boersen.Sales were up 16 pct at 2.583 bln dkr, slightly ahead of expectations for 2.524 bln.Net profit for the period amounted to 466 mln dkr, up 102 pct from last year, versus expectations for 432 mln.Lundbeck reiterated its full year 2007 guidance for an operating profit of more than 2.5 bln dkr, an EBIT margin of 25 pct and a level of investment of about 650 mln dkr.'The group's pharmaceuticals Cipralex and Ebixa (for the treatment of depression and Alzheimer's disease respectively) continued to grow combined with the recently launched pharmaceuticals Azilect and Serdolect (for the treatment of Parkinson's disease and schizophrenia, respectively),' Lundbeck said.'The higher income from Lexapro (a depression treatment) was due primarily to the inventory reduction in 2006,' it added.Sales of Lexapro increased 30 pct to 628 mln dkr, while Cipralex sales were up 18 pct at 990 mln dkr and sales of Ebixa increased by 26 pct to 391 mln dkr.Sales of Azilect climbed 349 pct to 34 mln dkr, and Serdolect sales reached 10 mln dkr, up from 1 mln dkr a year earlier.Lundbeck said it has initiated phase 1 clinical trials with the drug candidate Lu AA39959.'In preclinical models of schizophrenia, the compound has demonstrated a particularly convincing antipsychotic potential,' the group said.gustav.sandstrom@thomson.comgs/bsd/gs/bsdCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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