COPENHAGEN: Danish pharmaceutical group Lundbeck has cut its financial outlook for next year and 2014 on the back of sluggish European markets and higher costs related to investments in new products.
Lundbeck said on Wednesday it now saw 2014 revenue of around 14 billion Danish crowns ($2.5 billion) and operating profit in the range of 0.5-1.0 billion.
Two years ago, Lundbeck provided its long-term financial floor guidance in which revenue was expected to exceed 14 billion crowns per year and EBIT was expected to exceed 2 billion annually in the period 2012-14.
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