December 4, 2017 / 7:06 AM / in 14 days

Danish pharma company Alk Abello to invest 1 bln crowns in North America

Dec 4 (Reuters) - Danish pharma company Alk Abello said on Monday it would invest about 1 billion Danish crowns ($159.5 million) over the next three years to develop its North America business and said it expected earnings to be subdued during this period.

Alk Abello, which generates about 20 percent of its revenue in North America, said the expansion plan was expected to boost annual revenue growth rate to 10 percent or more after 2018.

But the company expects 2018 revenue to be slightly below 2017. ($1 = 6.2716 Danish crowns) (Reporting by Boleslaw Lasocki; Editing by Thyagaraju Adinarayan and Edmund Blair)

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