COPENHAGEN, Feb 4 (Reuters) - Danish drugmaker Lundbeck on Thursday posted fourth-quarter earnings above expectations but said it expects lower sales and profit this year.
Lundbeck, which specialises in treating mental disorders, said exchange rate headwinds and generic competition on drugs with expiring patents would weigh on sales this year.
Sales of Northera, one of the company’s top-selling drugs used to treat disorders caused by an underlying neurological disease, is expected to half this year as the patent expires, Lundbeck said.
The company expects 2021 revenue of 16.3-16.9 billion Danish crowns ($2.63-2.73 billion), down from 17.7 billion achieved in 2020.
Lundbeck ended 2020 with quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) of 1 billion crowns, topping the 868.8 million expected by analysts.
$1 = 6.1941 Danish crowns Reporting by Tim Barsoe; editing by David Goodman and Jason Neely