May 12, 2020 / 7:50 AM / 24 days ago

Lundbeck beats first-quarter sales expectations, keeps outlook

COPENHAGEN (Reuters) - Danish drugmaker Lundbeck beat first-quarter sales expectations on Tuesday, helped by strong sales from key drugs which benefitted from stock-piling and longer-lasting prescriptions due to the coronavirus pandemic, it said in a statement.

The Copenhagen-based company posted quarterly sales of 4.56 billion Danish crowns ($661.25 million), above an average of 4.34 billion forecast by analysts in a Refinitiv Eikon poll, and an 8% increase from the same period last year.

Lundbeck, which specializes in treatments for mental disorders, said it would keep its annual financial guidance of sales in the range of 17.4 to 18.0 billion crowns.

Reporting by Nikolaj Skydsgaard; Editing by Kim Coghill

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