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H Lundbeck A/S Lowers FY 2013 EBIT Guidance Following European Commission's Fine of EUR 93 Million-DJ

Wednesday, 19 Jun 2013 05:25am EDT 

Dow Jones reported that H Lundbeck A/S has received the European Commission's decision that the Company‚Äôs agreements concluded with four generic competitors concerning citalopram violated competition law. The decision, that Lundbeck intends to appeal, includes fining Lundbeck EUR 93 million (approximately DKK 700 million). As a result of the decision the Company has lowered its fiscal year 2013 EBIT guidance from a result of between DKK 1.9 billion and DKK 2.4 billion to a result of between DKK 1.2 billion and DKK 1.7 billion. The Company's fiscal year 2013 revenue outlook stays unchanged and is expected to be in the range of between DKK 14.4 billion and DKK 15.0 billion. According to I/B/E/S Estimates analysts on average are expecting the Company to report EBIT of DKK 2,284.63 million and revenue of DKK 14,941.54 million for the fiscal year 2013. 

Company Quote

0.04 +0.25%
16 Sep 2014