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Nov 7 Danish drugmaker Lundbeck
reported quarterly earnings above market expectations, helped by
rising sales of key drugs, and stuck to its outlook for 2012.
Lundbeck also said on Wednesday it was making progress in
launching a new antidepressant aimed at substituting for a
current top seller coming off patent.
It said third-quarter operating profit was flat at 661
million Danish crowns ($113 million), compared with a forecast
for 580 million in a Reuters poll.
"Lundbeck is on track to meet financial expectations for
2012," it said, adding full-year revenue should come in at the
lower end of its forecast range of 14.5-15.2 billion crowns.
Lundbeck is developing new drugs to replace lost sales from
Cipralex, sold as Lexapro in the United States and Japan and
which is coming off patent.
In October, Lundbeck and Japanese partner Takeda
Pharmaceutical submitted a new antidepressant,
vortioxetine, for regulatory approval in the United States.
It said on Wednesday that filing, along with applications to
European Union and Japanese regulators, meant it was closer to
launching vortioxetine for sale.
In the third quarter, sales of new products doubled to 611
Sales of xenazine, a treatment for chorea associated with
Huntington's disease, were 317 million crowns against a forecast
279 million, while sales of sabril, which treats seizures, were
123 million versus a forecast 96 million.
Lundbeck has said previously that earnings will stall until
2015 due to cheap generic competition, meaning new products will
be vital for future earnings.
($1 = 5.8276 Danish crowns)
(Reporting by Patrick Lannin; Editing by Dan Lalor)