May 12, 2020 / 6:20 AM / 22 days ago

BRIEF-H Lundbeck Q1 Reported EBIT At DKK 338 Mln, Below Expectations

May 12 (Reuters) - H Lundbeck A/S:

* STRONG MOMENTUM ACROSS ALL STRATEGIC BRANDS WITH 35% GROWTH IN Q1 2020, FINANCIAL GUIDANCE MAINTAINED

* Q1 REPORTED REVENUE DKK 4.56 BILLION VERSUS REFINITIV POLL DKK 4.34 BILLION

* Q1 REPORTED EBIT DKK 338 MILLION (REFINITIV POLL DKK 907.15 MILLION)

* Q1 CORE EBIT DKK 1,357 MILLION

* FINANCIAL GUIDANCE FOR 2020 IS MAINTAINED BASED ON CURRENT ASSESSMENT OF COVID-19 IMPACT

* LUNDBECK STILL EXPECTS REVENUE TO REACH DKK 17.4 - 18.0 BILLION, CORE EBIT TO REACH DKK 3.5 - 4.0 BILLION AND EBIT TO REACH DKK 1.4 - 1.9 BILLION FOR 2020

* WE HAVE BENEFITTED FROM PATIENTS GAINING LONGER REFILL PRESCRIPTIONS AS WELL AS SOME STOCKING OF PRODUCTS IN MANY COUNTRIES IN RESPONSE TO COVID-19 PANDEMIC

* THESE UNPRECEDENTED TIMES REDUCE OUR ABILITY TO FORECAST HOW THESE TRENDS WILL EVOLVE DURING YEAR

* FOLLOWING COVID-19 PANDEMIC, SEES INCREASED UNCERTAINTY ON PRODUCT PERFORMANCE SHORT-TERM; POTENTIAL IMPACT IS DIFFICULT TO QUANTIFY

* GLOBAL SUPPLY CHAIN FOR OUR MEDICINES HAS REMAINED INTACT Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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