* Studies confirm alcohol drug nalmefene efficacious, safe
* Drug on track for submission in Europe in H2 2011
* Shares rise 3.8 percent
(Adds details, comments, share price)
COPENHAGEN, Jan 3 (Reuters) - Lundbeck on Monday said phase III studies of its alcohol drug nalmefene had confirmed it as safe and effective in helping to reduce alcohol consumption, sending its shares up 3.8 percent.
The Danish pharmaceutical group currently generates the majority of its revenue from its antidepressive drug Cipralex, sold in the United States as Lexapro, and needs to find new revenues as the patent expires in coming years.
"We are pleased that these data demonstrate that nalmefene is on track to become the first drug to make a difference for the many people in need of a reduction of their harmful alcohol consumption," Executive Vice President Anders Gersel Pedersen said in the statement.
"We will now finalise the last efficacy study in the programme to assess the full data package in order for us to prepare the registration of nalmefene in Europe," Pedersen said.
Lundbeck said that nalmefene was on track for submission in Europe in second half of 2011, pending successful completion of the last pivotal efficacy study.
Lundbeck's share traded up 3.8 percent at 110 Danish crowns at 0847 GMT, outperforming the benchmark OMXC20-index which was 1.06 percent higher. Its shares initially rose to 113.0 crowns following the announcement.
"We are increasingly optimistic regarding this project, and today's studies confirm the clinical profile of nalmefene," said Jyske Bank analyst Frank Andersen.
(Reporting by Mette Fraende, additional reporting by Peter Levring; Editing by Lincoln Feast)