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Last $20.27 USD
Change Today +0.06 / 0.30%
Volume 250.0
As of 8:10 PM 07/6/15 All times are local (Market data is delayed by at least 15 minutes).

h lundbeck a/s (HLUKF) Key Developments

H. Lundbeck A/S Presents at Citi European Healthcare Conference, Jun-15-2015

H. Lundbeck A/S Presents at Citi European Healthcare Conference, Jun-15-2015 . Venue: Stirling Square, 5-7 Carlton Gardens, London SW1Y 5AD, United Kingdom. Speakers: Palle Holm Olesen, Chief Specialist of Investor Relations and Vice President of Investor Relations.

H Lundbeck AS Appoints Kare Schultz as President and CEO, Effective as of May 20, 2015

H Lundbeck AS announced the appointment of Kare Schultz as president and CEO, effective as of May 20, 2015. Schultz has an extensive experience in the pharmaceutical industry. He joined Danish drug maker Novo Nordisk in 1989 and was appointed president and chief operating officer (COO) in January 2014. Schultz is also board chairman at Danish brewery group Royal Unibrew A/S and board member at toymaker Lego.

H. Lundbeck A/S Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reaffirms Earnings Guidance for 2015

H. Lundbeck A/S announced consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported loss from operations of DKK 32 million compared to profit from operations of DKK 569 million last year. Revenue was DKK 3,563 million against DKK 3,587 million a year ago. Loss before tax was DKK 32 million against profit before tax of DKK 552 million a year ago. Net loss was DKK 81 million or DKK 0.41 per diluted share against net profit of DKK 331 million or DKK 1.69 per diluted share a year ago. Cash outflows from operating activities were DKK 382 million compared to DKK 151 million a year ago. Investments in intangible assets and property, plant and equipment were DKK 35 million compared to DKK 68 million a year ago. Cash flow per share was DKK 1.94 compared to DKK 0.77 a year ago. Return on equity was negative of 0.6% against 2.5% a year ago. On core basis, profit from operations was DKK 216 million, profit before tax was DKK 216 million and profit for the period was DKK 129 million or DKK 0.66 per share against profit from operations was DKK 729 million, profit before tax of DKK 712 million and profit for the period of DKK 440 million or DKK 2.25 per share a year ago. Return on capital employed was negative 0.2% against 3.7% a year ago. The decline of 10% in local currency and 1% reported is primarily due to the generic competition on Ebixa and Cipralex in Europe and on Cipralex in Canada. For the fiscal year 2015, Lundbeck is expecting constant exchange rate revenue to be in the range DKK 13.2 to DKK 13.7 billion. Lundbeck still expects core profit from operations (core EBIT) in constant exchange rate to be around DKK 0 for 2015.

H. Lundbeck A/S, Q1 2015 Earnings Call, May 06, 2015

H. Lundbeck A/S, Q1 2015 Earnings Call, May 06, 2015

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.

 

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