Lundbeck continues to deliver solid growth
Shares of Danish CNS specialist Lundbeck (LUND: CO) closed down 6.9% at 184.45 kroner yesterday as it posted financials for the first half of 2021, though this fall was likely more to do with disappointing clinical results for Rexulti (brexpiprazole) in borderline personality disorder that were released the same day.
Revenue reached 8,233 million kroner ($1,307 million), a decline of 4% in local currencies because of generic erosion on Northera (droxidopa), and missing consensus estimates of 4,02 billion kroner.
Earnings before interest and taxes (EBIT) beat forecast, growing 58% compared to the same period in 2020 and reaching 1,478 million kroner. EBIT margin reached 18.0%. Earnings per share (EPS) increased by 63% for the period, reaching 5.03 kroner.
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