Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Lundbeck Starting Slow, But Still Looking For The Big Finish

H Lundbeck A/S (OTCPK:HLUYY) (LUN.CO) remains in a "hurry up and wait" gray area. Key drugs like Brintellix and Abilify Maintena are only just getting started and investors are on tenterhooks waiting for Phase III data on key pipeline candidates like brexpiprazole and desmoteplase. While the shares still look undervalued today, further progression in the Brintellix launch and key pipeline updates will likely lead to significant revisions in estimated value before 2014 is over.

Mixed News For Q1

Lundbeck's first quarter results looked a little stronger than they really were, as the company didn't outperform where analysts and investors most wanted to see outperformance.

Revenue declined 22% as reported, coming in just below expectations. Old drugs like Cipralex...

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