Zealand Pharma: loss falls as Sanofi payments increase.

(CercleFinance.com) - On Thursday Zealand Pharma reported H1 results that are in line with its guidance, with the group maintaining its financial targets for 2017.


The Danish biopharmaceutical company reported a H1 operating loss of 98 million Danish kroner, down from a loss of 252.5 million kroner in the same period last year.

Revenue for the first six months of 2017 grew six-fold to 88.4 million Danish kroner, including 10.4 million kroner related to royalty revenues on Sanofi's sales of Lyxumia/Adlyxin for the treatment of type-2 diabetes.

Zealand maintained its financial guidance for 2017, expecting a continued increase in royalty payments from Sanofi.

The group's operating loss before royalty income/expenses is expected to be in a range of 290-310 million Danish kroner this year.

The shares were up 3% at 117.5 Danish kroner on the Nasdaq Nordic after this report.



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