Lundbeck rises as 1st-qtr beats forecasts

12 May 2021

Danish CNS specialist Lundbeck (LUND: CO) saw its shares close up 5.6% at 202.00 Danish kroner yesterday after reporting forecast-beating first-quarter 2021 financials, and strong progress for its new migraine treatment.

Revenue reached 4,273 million Danish kroner ($698 million) in the first quarter of 2021, a decline of 2% in local currencies, but ahead of the 4.25 billion kroners expected by analysts polled by Reuters.

Earnings before interest and taxes (EBIT) grew 235% compared to the same period in 2020 and reached 882 million kroner. EBIT margin reached 20.6%. Earnings per share (EPS) grew by 578% in the quarter, reaching 3.13 kroner.

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