UPDATE 1-Crucell Q3 profit falls 22 pct, keeps outlook
* Reiterates full-year outlook
* Q3 net profit 10 mln euros vs 12 mln expected
(Adds CEO comment, detail)
AMSTERDAM, Nov 3 (Reuters) - Dutch biotech firm Crucell (CRCL.AS) (CRXL.O) reiterated its full-year revenue outlook despite reporting lower-than-expected net profit for the second consecutive quarter, as its revenues disappointed.
Net profit fell 22 percent to 10 million euros, missing the average forecast of 12 million euros from a Reuters poll of four analysts. The company reported net profit of 12.8 million euros in the same period last year.
Crucell reiterated it expects its combined full-year 2009 total revenues and other operating income to grow 20 percent in constant currencies.
Crucell earnings have been supported in recent years by strong sales growth of its paediatric vaccine Quinvaxem, which prevents five childhood illnesses, but is coming under increased pressure with the emergence of several Indian rivals.
Once regarded as a takeover target, Crucell won a 302 million euro cash injection from U.S. firm Johnson & Johnson (JNJ.N) in September as part of a flu vaccine development deal and analysts now expect Crucell to be an M&A predator.
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(Reporting by Aaron Gray-Block)
