Danish pharmaceutical company H. Lundbeck A/S (OMX: LUN), which focuses on central nervous system drugs communicated near term plans yesterday. ITs financial guidance for 2013 was significantly below expectations with new investments and high R&D expenditures expected with Lu AE58054 pivotal Alzheimer trials on tap. Launch of new products including Selincro™ and Brintellix™will also be costly. This all compounds the Lexapro (and impending Cipralex) patent protection loss revenue impact.
The preliminary revenue guidance is 14.1-14.7 DKK and EBIT is expected to fall in between 1.6-2.1 billion. The following year sales are expected to dip further to around 14 billion while EBIT is expected to show a similar trajectory and fall below 1 billion but above half a billion. Previously EBIT guidance was above 2 billion for both years. Markets have been giving the company a beating. The stock retreated 15% yesterday and it is still showing weakness today following some downgrades and overall poor sentiment in the pharmaceutical industry following some high profile trial failures from smaller biotech companies.
No comments:
Post a Comment