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Leo Pharma disappoints as deficit surpasses USD 720m

Leo Pharma’s deficit increased fivefold in 2021 to a bottom line result of DKK 4.9bn (USD 726.6m). Acting CEO Anders Kronborg acknowledges that this looks very disappointing, but says that the company has a plan to turn things around as early as next year.

Photo: MAGNUS MØLLER
by ulrich quistgaard, translated by daniel pedersen

Revenues are down as the bottom line deficit at Leo Pharma grows, the company’s annual report for 2021 reveals.

The company’s negative result has increased fivefold, from a reported DKK -951m in 2020 to DKK -4.9bn in 2021 (USD 141m to USD 726.6m), whereas the top line shrinks after a number of product divestments to DKK 9.96bn from preceding period’s DKK 10.13bn (USD 1.47bn from USD 1.5bn).

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