Lundbeck Pins Hopes On New Product Launches, Ex-Europe Growth To Reverse Revenue Drain
This article was originally published in The Pink Sheet Daily
Denmark's CNS drugs specialist Lundbeck expects three 2013 product launches, a portfolio of new medicines and a marketing drive into markets outside anemic Europe to help offset lost revenue and profits caused by escitalopram patent expiry in the U.S. and Europe.
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Europe's top scientific advisory panel backed Lundbeck's alcoholism therapy Selincro (nalmefene) and Roche's next-generation breast cancer therapy Perjeta (pertuzumab) but rejected Genzyme/Isis' antisense therapy Kynamro (mipomersen) and Vanda's Fanaptum (oral iloperidone).
With the end of its cash runway on the horizon, Finland’s Biotie Therapies has received an equity investment of €10 million from Lundbeck and €20 million from institutional investors, after renegotiating the ex-Europe part of its worldwide nalmefene licensing pact.
Lundbeck Cuts Its European Sales Teams By A Third, As It Builds Up Its Presence In the U.S. And Emerging Markets
Lundbeck becomes the latest company in Europe to announce job cuts, as austerity, generic competition and unclear pricing and reimbursement practices create uncertainties.