Lundbeck Inc. Eyes Pipeline as Key Antidepressant Fades
Published: May 03, 2012
Danish drugmaker Lundbeck missed first-quarter profit forecasts as it invests in new medicines to offset a faster-than-expected slide in sales of its top-selling antidepressant, which is losing patent protection. However, the firm said on Wednesday it was sticking to its full-year forecasts, arguing new drugs like Ebixa for Alzheimer's disease, as well as a string of soon-to-be launched treatments, would take up the slack. At 1105 GMT, Lundbeck shares were down 0.5 percent at 111.4 Danish crowns, lagging a 0.5 percent rise in the STOXX Europe 600 healthcare index. The shares have underperformed that index by about 20 percent over the past year.