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Last $20.12 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 04/16/15 All times are local (Market data is delayed by at least 15 minutes).

h lundbeck a/s (HLUKF) Key Developments

Lundbeck and Ovid Therapeutics Enters into Worldwide Licensing Agreement for Gaboxadol

H. Lundbeck A/S and Ovid Therapeutics Inc. entered into an exclusive worldwide license agreement for gaboxadol, the first oral medicine which holds the potential to treat patients with Angelman Syndrome and Fragile X Syndrome. Gaboxadol (OV101) is the only small molecule, highly selective extrasynaptic GABA(A) receptor agonist (SEGA) that has been tested in clinical trials. Under the terms of the agreement, Ovid obtained exclusive worldwide development and commercialization rights for OV101. In connection with the license, Lundbeck became a minority shareholder in Ovid, and will receive certain milestone payments and royalties on sales. Ovid is responsible for all future development and commercialization for OV101. Additional financial terms were not disclosed. Ovid plans to pursue the development of OV101 in Angelman Syndrome and Fragile X Syndrome, two orphan neurological disease indications with no available treatment options, and expects to commence a Phase 2 trial for Angelman Syndrome in 2016, followed by a Phase 2 trial in Fragile X Syndrome. The selection of Angelman Syndrome and Fragile X Syndrome as initial indications is based upon Ovid’s expectation of a highly favorable benefit-to-risk profile for OV101. The company believes that clinical and preclinical evidence to date strongly support OV101’s anti-epileptic, motor improvement and cognitive enhancement effects. OV101 is the only drug that has been shown to correct the motor deficit, a cause of major morbidity in patients, in a mouse genetic model for Angelman Syndrome. OV101 has been shown to be well tolerated in clinical trials involving approximately 3,000 patients.

H. Lundbeck A/S Approves Board Changes

H. Lundbeck A/S announced at its annual general meeting held on March 25, 2015, it approved the Lene Skole, Jesper Ovesen and Lars Holmqvist were elected to the board of directors. Christian Dyvig, Thorleif Krarup and Melanie Lee did not stand for re-election.

H. Lundbeck A/S - Shareholder/Analyst Call

Annual General Meeting

H. Lundbeck A/S, 2014 Earnings Call, Feb 05, 2015

H. Lundbeck A/S, 2014 Earnings Call, Feb 05, 2015

H. Lundbeck A/S Announces Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Fiscal Year 2015

H. Lundbeck A/S announced consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported loss from operations of DKK 838 million compared to profit from operations of DKK 68 million last year. Revenue was DKK 3,247 million against DKK 3,587 million a year ago. Loss before tax was DKK 869 million against profit before tax of DKK 38 million a year ago. Net loss was DKK 633 million or DKK 3.22 per diluted share against net profit of DKK 23 million or DKK 0.12 per diluted share a year ago. Cash flows from operating activities were DKK 538 million compared to DKK 1,529 million a year ago. Investments in intangible assets and property, plant and equipment were DKK 155 million compared to DKK 610 million a year ago. Cash flow per share was DKK 2.74 compared to DKK 7.79 a year ago. Return on equity was negative of 4.6% against 0.2% a year ago For the year, the company reported revenue of DKK 13,468 million compared to DKK 15,258 million a year ago. Profit from operations was DKK 99 million compared to DKK 1,599 million a year ago. Loss before tax was DKK 56 million compared to profit before tax of DKK 1,472 million a year ago. Net loss was DKK 153 million compared to profit of DKK 855 million a year ago. Diluted loss per share was DKK 0.78 compared to diluted earnings per share of DKK 4.36 a year ago. Cash flows from operating activities were DKK 1,610 million compared to DKK 3,760 million a year ago. Investments in intangible assets and property, plant and equipment were DKK 1,541 million compared to DKK 1,510 million a year ago. Cash flow per share was DKK 19.17 compared to DKK 10.76 a year ago. Cash flow per share was DKK 8.2 compared to DKK 19.16 a year ago. Return on equity was negative of 1.1% against 6.4% a year ago. Core EBIT was DKK 1,228 million compared to DKK 2,282 million a year ago. Core EPS was DKK 3.21 compared to DKK 8.02 a year ago. For the fiscal year 2015, Lundbeck is expecting constant exchange rate revenue to be in the range DKK 13.2-13.7 billion. Lundbeck still expects core profit from operations (core EBIT) in constant exchange rate to be around DKK 0 for 2015.

 

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