Breaking News

Alibaba Indicated to Start Trading at $87 to $89
Tweet TWEET

Actelion Raises Dividend 20% as Sales Climb on New Drug

Actelion Ltd. (ATLN) raised its dividend by 20 percent after the Swiss drugmaker reported higher-than-predicted profit and raised its earnings forecast for the year.

Shareholders will receive a payout of 1.20 Swiss francs a share, up from 1 franc last year, the Allschwil-based company said in a statement today. Percentage growth in earnings excluding some items will be in the low single digits at constant exchange rates, the company said, compared with a previous forecast for earnings at least at the same level as last year.

Actelion is benefiting from the approval last year of Opsumit, a new drug to treat pulmonary arterial hypertension. Peak sales of the drug will exceed those of Tracleer, the company’s existing treatment for the same illness, Actelion said today.

Product sales last year rose 3.6 percent to 1.78 billion francs ($2 billion) and core operating income increased 15 percent to 619 million francs. Earnings per share of 4.41 francs beat the average analyst estimate of 4.38 francs.

To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.