Lundbeck ‘achieves strong performance’

Lundbeck has published its financial results for the second quarter of the 2008 fiscal year, with the company reporting an “exceptionally” strong performance for the period.

During the quarter the firm generated revenues of 2,938 million Danish kroner (310 million pounds), an increase of 12 per cent over the same time last year.

Profit from operations excluding one-off items rose by 22 per cent to 844 million Danish kroner, while EBIT – including one-off items – fell 58 per cent to 363 million Danish kroner.

Excluding the writedown of Flurizan (tarenflurbil) rights worth 481 million Danish kroner, Lundbeck forecasts revenues of 11-11.5 billion Danish kroner for the full year, with profit from operations of 2.8-2.9 billion Danish kroner.

Ulf Wiinberg, president and chief executive officer of Lundbeck, said: “We still have a healthy business with strong growth in revenue as well as earnings driven by our products consistently winning market shares.”

He added these figures show the value of having novel pharmaceuticals, with the company looking to develop and market drugs to treat currently unmet areas of medical need.

In May 2008, Lundbeck recorded revenues of 2,882 million for the first quarter of the financial year, reporting this as continuing strong growth at the firm.