Zealand Pharma: increased investments, but losses rise

(CercleFinance.com) - Danish biopharmaceutical company Zealand Pharma has reported a higher loss for H1 on Thursday, due to increased investment in the obesity field.


The Copenhagen-based company more than doubled H1 sales, to over 49m DKK, compared with 24m DKK in H1 2023.

Its operating expenses nevertheless rose to 558.7m DKK, compared with 388.1m DKK a year earlier.

As a result, its operating loss widened to 523.5m DKK, compared with a shortfall of 364m DKK in H1 2023.

Zealand nonetheless expresses optimism about its various projects in the treatment of obesity, in which it now says it is investing 'significantly'.

As a result of its investment efforts, Zealand Pharma has revised upwards its operating expenditure forecast for 2024, now expected to be between 1.25 and 1.35 billion kroner for the year, compared with a previous estimate of between 1.10 and 1.20 billion.

This half-yearly publication was nevertheless welcomed by the market, with the share gaining over 3% on Thursday morning on the Copenhagen Stock Exchange.


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