Focus on strategic brands paying off for Lundbeck
Shares of Denmark-based CNS specialist Lundbeck (LUND: CO) were up 7% at 161.30 Danish kroner in early afternoon trading, after it released a strong set of first-quarter 2022 financials.
Total revenue reached 4,372 million kroner ($621.9 million) in the quarter, an increase of 2%, as the quarter was impacted by lower revenue of Northera (droxidopa) following its loss of exclusivity in the first quarter of 2021 while also benefitting from appreciation of main currencies.
In aggregate, strategic brands grew 25% in the first quarter of 2022 reaching 2,668 million kroner or 61% of total revenue.
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