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Lundbeck sees U.S. franchise revs of $500 mln in 2011

Fri Jun 12, 2009 3:00am EDT

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COPENHAGEN, June 12 (Reuters) - Danish drugmaker Lundbeck (LUN.CO) late on Thursday said it expects annual revenue from its newly acquired American business, Lundbeck Inc., to pass $500 million in 2011.

Lundbeck said in a statement it had completed its initial review of the purchase of the former Ovation Pharmaceuticals, which it bought for $900 million in February, and now expected the $500 million target to be passed in the fiscal year 2011.

In the first quarter of 2009 Lundbeck Inc. sales reached 396 million Danish crowns ($74.63 million), of which 61 million was booked as Lundbeck revenue.

Lundbeck's main revenue generator is anti-depressant drug cipralex, which is sold in the U.S. as Lexapro by Forest Laboratories (FRX.N). ($1=5.306 Danish crowns) (Reporting by Peter Levring; editing by Mike Nesbit)



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