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Home Industry News Lundbeck announces first quarter growth

Lundbeck announces first quarter growth

7th May 2008

Latest figures from Lundbeck have revealed what the company notes as “continuing strong growth” across a number of areas for the first quarter of 2008 (Q1).

In terms of revenue the firm recorded a figure of over DKK 2,882 million (£305.2 million) with profit from operations amounting to DKK 924 million. The Q1 total for company investments was estimated to be DKK 138 million.

The figures, which were released alongside Lundbeck’s 2007 annual report, also revealed Q1 product revenues of DKK 1,516 million for Europe, DKK 651 million across international markets and 661 million in the US.

Commenting on the report, Lundbeck chief financial officer Anders Gotzsche said the figures represented not only positive growth but also a continuing focus on lowering costs.

“This focus resulted in a strong improvement in profits and we are well on track to meet our financial guidance for the full year 2008,” he added.

Earlier this month, Lundbeck announced it would launch a share buyback programme, which it states was expected to reach completion by the end of the year.

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