May 8, 2018 / 6:41 AM / 18 days ago

Lundbeck Q1 beats forecast, keeps 2018 outlook

COPENHAGEN, May 8 (Reuters) - Drugmaker Lundbeck reported a first-quarter operating profit of 1.66 billion Danish crowns ($266 million), beating the 1.21 billion expected by analysts in a Reuters poll, as sales of its schizophrenia and depression drugs offset the effect of generic competition on its older products.

“We have realised solid revenue growth even considering headwind from exchange rates and generic erosion and continue the strong improvement in profitability,” interim chief executive Anders Gotzsche said in a statement on Tuesday.

Lundbeck said it still expects an operating profit of 4.8-5.2 billion crowns on revenue of 17.2-18.0 billion in 2018.

$1 = 6.2425 Danish crowns Reporting by Stine Jacobsen; editing by Jason Neely

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