Lundbeck expects to return to profitability in 2016

Denmark-based CNS specialist Lundbeck (LUND: CO) saw its shares rise 17.25% to 242.60 Danish kroner this morning, after it reported better that expected financials, posting fourth-quarter 2015 revenue of 3.73 billion kroner ($556.7 million) and a loss of 432 million kroner, compared with consensus expectations of sales at 3.46 million kroner and a loss of 314 million kroner.

For the full year, revenues came in at 14.59 billion kroner, up 8% but flat in local currencies. Core earnings before interest and taxes (EBIT) was down 31% at 847 million kroner, with reported EBIT seeing a loss of 6.82 billion kroner compared with a profit of 99 million kroner in 2014.

For 2016, Lundbeck expects revenue of around 13.8-14.2 billion kroner and EBIT is expected to reach 1.0-1.2 billion kroner.