Lundbeck achieves sales growth, despite 'unprecedented times'Lundbeck achieves sales growth, despite 'unprecedented times'

4 February 2021

Danish CNS specialist Lundbeck (LUND: CO) today released full-year 2020 financial results, showing that growth continued across all regions, with revenue of 17,672 million Danish kroner ($2.89 billion), a rise of 4% in local currencies when compared to 2019.

Core earnings before interest and taxes (EBIT) were 4,436 million kroner, in accordance with financial guidance of 4.3 – 4.5 billion kroner. Core EBIT margin reached 25.1%. Lundbeck also benefited from COVID-19 related cost avoidance throughout the year.

Early market reaction was negative, but by late afternoon trading Lundbeck’s shares were up 8.75% at 241.00 kroner.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK