Lundbeck sees strong first-half growth for strategic brands

13 August 2020

Shares of Danish CNS specialist Lundbeck (LUND: CO) were down more that 6% at 227.30 Danish kroner as markets neared close of trading today, as the company announced that second-quarter both revenue and earnings were negatively impacted by slightly lower demand and destocking related to the ongoing COVID-19 pandemic offsetting the positive effect seen in the first quarter of the year.

The Copenhagen-based company posted quarterly sales of 4.37 billion kroner versus the 4.31 billion expected by analysts, Refinitiv Eikon data showed.

Core earnings before interest and taxes (EBIT) reached 2,483 million kroner corresponding to a core EBIT margin of 27.8. Reported EBIT reached DKK 1,085 million kroner and the EBIT margin reached 12.1% following an impairment due to the foliglurax product rights in the first quarter. Core earnings per share (EPS) reached 10.30 kroner and reported EPS reached 3.69 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