Lundbeck's EPS up 65%; shares fall on CEO exit
Full-year 2007 operating profit at Danish drugmaker H Lundbeck, including non-recurring items, was 2.69 billion Danish kroner ($556.3 million), up 51%, while earnings per share grew 65% to 8.63 kroner. The firm said that its receipt of a 420.0 million kroner payment from Takeda had offset a 381.0 million write-down related to its Seal Sands manufacturing facility, resulting in a 39.0 million kroner gain.
Lundbeck's revenue for the year increased some 19% to 10.99 billion kroner, with its Cipralex/Lexapro (escitalopram) franchise contributing 6.69 billion kroner. The firm's second best selling product, Ebixa (memantine), expanded 22% to 1.66 billion kroner.
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