Lundbeck stock falls, despite posting strong financials
Danish CNS specialist Lundbeck (LUND: CO) saw its shares drop 6.07% to 352.00 Danish kroner this morning, as it posted a strong set of financials for the first nine months of 2017, as its newer drugs, such as those to treat bipolar disorder and depression, missed market expectations in the third quarter.
Revenue reached 12.84 billion kroner ($2.63 billion) in the first nine months of 2017 representing an increase of 12% (13% in local currencies) compared to the same period last year.
Earnings before interest and taxes (EBIT) improved significantly reaching 3,476 million kroner up from 1,541 million kroner in the same period last year and the EBIT margin reached 27.1% compared to an EBIT margin of 13.4% the year before.
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