Lundbeck posts strong 1st-qtr results, ups guidance
Danish CNS specialist Lundbeck (LUND: CO) reported a strong set of financial results for the first-quarter of 2017, with total revenues rising 12% to 4.21 billion Danish kroner ($622 million), led by 21% growth to 2.44 billion kroner sales in the USA. The firm’s shares rose 3.44% to 336.80 kroner by late morning trading.
Earnings before interest and taxes (EBIT) improved significantly reaching 1.01 billion kroner, up from 483 million kroner in 2016, confirming its strong turn around, and the EBIT margin reached 24.0% versus 12.8% the year before. Earnings per sharegrew more than 200% in the quarter to 2.98 kroner compared to 0.94 kroner in 2016
Revenue from key products grew 46% (46% in local currencies) to 1.98 billion kroner in the period representing 47% of total revenue.
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