BALLERUP, Denmark--(BUSINESS WIRE)--Today, LEO Pharma A/S announced its annual results for 2018 and outlined expectations for 2019.
“We have set ourselves ambitious goals to make a true difference in the lives of people living with skin diseases. 2018 has been yet another eventful year on this pioneering journey, as we have strengthened LEO Pharma’s foothold in medical dermatology significantly. We are pleased to present the 2018 results which are satisfactory and in line with expectations and will help us further drive scientific advancements, and bring much-needed progress for patients,” said Gitte P. Aabo, CEO and President of LEO Pharma.
LEO Pharma’s consolidated revenue amounted to DKK 10,410 million in 2018, a level similar to revenue in 2017 (DKK 10,481 million).
Operating profit increased from DKK 852 million in 2017 to DKK 1,605 million in 2018. The increase in operating profit was predominantly driven by the strategic decision to divest LEO Pharma’s non-strategic derma portfolio to Karo Pharma AB. The divestment resulted in a net gain of DKK 1,566 million recognized as other operating income.
|Key figures||2017||2018||Change in %|
|Revenue (DKK million)||10,481||10,410||-1%|
|Operating profit (DKK million)||852||1,605||88%|
|Investments in R&D (% of Revenue)||15%||18%||3%|
See the full press release in the attached document.