Lundbeck reports 16% rise in first-quarter revenues

Lundbeck has announced its financial figures for the first quarter of the current fiscal year, with the firm reporting a 16 per cent rise in revenues to DKK 2,583 million (235.9 million pounds).

The firm saw a 46 per cent rise in profit from operations over the same period last year to DKK 658 million, with profit after tax over double the first-quarter figure for 2006 at DKK 466 million.

During the quarter, the company announced the termination of its joint-development programme with Merck, Sharp and Dohme relating to insomnia drug gaboxadol, while it began phase I clinical trials of Lu AA39959 – a potential treatment for psychiatric conditions.

“The group’s pharmaceuticals Cipralex and Ebixa – for the treatment of depression and Alzheimer’s disease, respectively – continued to grow,” the company reports.

“[These sales] combined with the recently launched pharmaceuticals Azilect and Serdolect – for the treatment of Parkinson’s disease and schizophrenia, respectively.”

Lundbeck forecast that full-year figures for the 2007 financial year would see a strong growth in profit compared to 2006, with the company predicting an EBIT margin of 25 per cent, with profit from operations exceeding DKK 2.5 billion.

Earlier this year, Lundbeck announced that it had generated revenues of DKK 9.2 billion during 2006, a two per cent increase on the figure for the previous year.