Lundbeck revenues and profits see increase in first quarter
10 May 2010 00:00 in Pharmaceutical Company Financials
Lundbeck has hailed the "very good start" it has experienced for the current financial year after seeing its revenues and profits increase in the first quarter.
The pharmaceutical company's three-month revenue total came to 3.8 billion kroner (444 million pounds), up by 15 per cent year-on-year, while profits increased by 32 per cent in the same timeframe.
Strong product performances driving this increase included Cipralex, Ebixa and Azilect, while clinical progress was made on several developmental compounds, such as nalmefene and desmoteplase.
As a result, the company has maintained its view that it will achieve an annual revenue total of between 14.3 billion and 14.8 billion kroner during 2010.
Lundbeck president and chief executive officer Ulf Wiinberg said: "The first quarter of 2010 has been very strong for Lundbeck and revenue and profits continue to show firm growth."
The last quarter also saw Lundbeck appoint Ole Vahlgren as its senior vice-president of business development, a move which it described as a key part of its corporate growth plans.
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