Lundbeck Slumps After FDA Rejects Brintellix Label Expansion
- Shares down as much as 11 percent, most since December 2012
- Jefferies analysts excluded potential expansion from estimates
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H. Lundbeck A/S shares fell the most in more than three years after the U.S. Food and Drug Administration wouldn’t approve an expanded use of its antidepressant Brintellix.
The stock dropped as much as 11 percent, the steepest intraday decline since Dec. 19, 2012, when the Danish drugmaker slashed its sales and profit forecasts for the following two years. Lundbeck was down 9.9 percent to 223.50 kroner at 10:29 a.m. in Copenhagen trading.