With a new CEO taking the reins in September and a candidate entering the clinic for Parkinson’s disease, Lundbeck has opportunities for refreshment, both in the pipeline and the boardroom. But with generic competition battering down the company’s financial outlook, it may not be enough to bring the market along for the ride.
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Shares in Lundbeck Inc. fell by 10% when the Danish drug maker announced its half yearly results on Aug. 8, with generic erosion keeping the company’s full-year guidance flat.
The lower end of the revenue guidance range was raised from DKK17.2-18bn ($2.6bn - $2.8bn) to DKK17.6-18bn ($2.7bn - $2.8bn),...
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