July 22, 2014 / 5:15 AM / 3 years ago

Actelion hikes full-year profit forecast

ZURICH, July 22 (Reuters) - Actelion hiked its 2014 profit forecast for the second time this year on Tuesday, encouraged by strong sales of its new heart and lung drug Opsumit.

Europe’s largest biotech company said it expected core earnings growth in at least the mid-teens percentage range in 2014, up from a previous guidance for low single-digit percentage growth given in February.

“Since the product contribution has exceeded previous forecasts, we are now able to significantly upgrade our guidance for the full year 2014,” Chief Financial Officer Andre C. Mueller said in a statement.

Core earnings per share jumped 27 percent in the second quarter to 421 million Swiss francs ($469 million), lifted by strong product sales and a tight grip on costs. ($1 = 0.8980 Swiss Francs) (Reporting by Caroline Copley)

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