Lundbeck publishes second-quarter report

Lundbeck has published its interim report for the second quarter of 2007, with the firm reporting consolidated revenues of 2,612 million Danish kroner (237.8 million pounds) – an increase of 19 per cent compared to the previous year.

European revenue rose six per cent for the quarter, year-on-year, reaching 1,490 million Danish kroner, while profit from operations worldwide rose 158 per cent to 692 million Danish kroner.

Profit after tax rose 232 per cent on the figure for the second quarter last year to 498 million Danish kroner.

Following the publication of these results, the firm predicts strong growth in profit for the full 2007 financial year, forecasting total profit from operations of over 2.5 billion Danish kroner.

“The group’s pharmaceuticals Cipralex and Ebixa – for the treatment of depression and Alzheimer’s disease, respectively – continued to grow combined with the recently launched pharmaceuticals Azilect and Serdolect – for the treatment of Parkinson’s disease and schizophrenia, respectively,” Lundbeck reports.

It adds that that the firm saw higher income from Lexapro for the year, which it attributed to an inventory reduction during 2006.

Also this week, the supervisory board of Lundbeck expressed its resolve to initiate a share repurchasing programme for up to six billion common shares in the company.