MedWatch

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

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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