Cost Cuts Help Actelion Ltd. Lift Earnings View
Published: Jul 19, 2012
Actelion Ltd. (ATLN), the Swiss maker of the Tracleer blood-pressure drug, climbed the most in two weeks after the company raised its profit forecast for 2012 on reduced spending and second-quarter revenue that beat estimates. The shares advanced as much as 3 percent to 42.50 Swiss francs, the biggest intraday gain since July 5, and were up 2.7 percent at 42.36 francs as of 9:29 a.m. in Zurich. Core earnings, or sales minus cash operating expenses and excluding currency effects, will rise in a “mid single-digit” percentage range, Allschwil-based Actelion said in a statement today. The drugmaker had expected earnings to remain unchanged from 2011 figures. The company reiterated that sales will probably fall by a low single-digit percentage.