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Lundbeck books rise in Q2 profit, revises 2018 guidance

H. Lundbeck A/S said its second-quarter profit rose year over year, and it revised its financial guidance for 2018.

The Danish drugmaker said second-quarter core profit was 1.38 billion Danish kroner, up from 813 million kroner a year earlier.

Core EPS for the quarter was 6.93 kroner, up from 4.11 kroner in the same quarter in 2017.

On a reported basis, profit for the quarter was 999 million kroner, up from 608 million kroner in the year-ago period.

Revenue for the quarter was 4.70 billion kroner, up from 4.28 billion kroner in the same period last year, driven by the company's therapies Abilify Maintena, Brintellix/Trintellix, Northera, Onfi and Rexulti.

For the first half, the company's core profit was 2.73 billion kroner, up from 1.59 billion kroner in the year-ago period. Core EPS for the half was 13.73 kroner, up from 8.03 kroner in the year-ago quarter.

Revenue for the half was 9.29 billion kroner, up from 8.49 billion kroner in the first half of 2017.

Lundbeck improved its outlook for 2018, expecting revenue to be between 17.60 billion and 18 billion kroner, raising the lower end of the range from a previous forecast of 17.20 billion to 18 billion kroner.

As of Aug. 7, US$1 was equivalent to 6.43 Danish kroner.