Lundbeck restructuring on track, core sales up 5%

4 November 2015

The restructuring program announced by Danish CNS specialist drugmaker Lundbeck (LUND: CO) in August 2015 is progressing as planned and is still expected to reduce the cost base by around 3 billion ($444.4 million) in 2017, the company said this morning.

In the first nine months of 2015, core revenue reached 10.75 billion kroner representing an increase of 5% (4% decline in local currencies). Core earnings before interest and taxes (EBIT) came in at 744 million kroner, a drop of 47% compared with the 1.47 billion kroner recorded in the like 2014 period, with core earnings per share of 1.75 kroner, down 59%.

Third-quarter beats expectations

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