The Lundbeck Foundation delivers solid operating results in a challenging 2022

2022 was a busy year for the Lundbeck Foundation with many new initiatives: A significant investment in Ferrosan Medical Devices increased the portfolio of strategic ownerships from three to four, the foundation's biotech investments were pooled with a focus on Danish biotech, a worldwide online learning platform about the brain was launched, and several new talent development programmes were launched in the research environments. These are just some of the highlights of the year.

Results for 2022

• The Lundbeck Foundation Group's profit in 2022 amounted to DKK 1,211 million (DKK 6,928 million in 2021).
• Operating profit amounted to DKK 3,427 million (DKK 3,872 million in 2021). This reflects an operational increase of 22% when excluding Falck's Covid-19 testing activities. 
• Lundbeck and ALK delivered record revenues reflecting growth of 12% and 15%, respectively. Excluding the Covid-19 testing activities, Falck increased its revenue by 3%.
• The result from the financial investment activities was DKK -1,995 million, which was a significant decrease from 2021, when the return amounted to DKK 4,467 million. The result reflected a financially challenging market.
• The Lundbeck Foundation awarded DKK 550 million to research within biomedicine and health sciences, including DKK 430 million (78%) for brain-related research. This led to 151 grants and corresponds to funding of more than 650 full-time research positions at Danish universities.
• Equity increased to DKK 50,164 million as of 31 December 2022 from DKK 49,422 million, 31 December 2021.

Quotes:

"2022 was characterised by the generally negative development in the financial markets, where we performed well in relative terms. At the same time, I am proud of this year's strong operating profit from our strategic ownerships as well as the many steps we have taken in the execution of the foundation's 2030 strategy," says Lene Skole and continues:

"With grants of more than half a billion kroner to health science research in Denmark, we deliver on our long-term philanthropic goals, while we contribute to developing and strengthening Denmark as a leading research nation within health and brain research through our ownership of Danish healthcare companies, our investments in Danish biotech and our grants for brain research. We will continue to do so."

Highlights of the year

• The Lundbeck Foundation acquired 30 percent of Ferrosan Medical Devices, which with its unique products is a significant step in realizing the Foundation's strategic goal of developing and owning more Danish healthcare companies.
• Lundbeckfonden BioCapital was launched in April and marks an increased focus on developing and investing in the Danish biotech environment and ecosystem with an investment mandate of up to DKK 4 billion towards 2030.
   
• The Lundbeck Foundation launched several new talent development programmes in research environments, including Frontier Grants and Neuroscience Academy Denmark (NAD). Frontier Grants aim to elevate projects and entrepreneurial talents from academia to commercial challenges in a tailor-made process. NAD will strengthen Denmark's neuroscience environment through PhD. Fellowships in rotation between Danish universities.
• Neurotorium.org, launched in spring 2022, is an international open learning platform for anyone with an interest in neuroscience. The platform offers free access to expert-reviewed content and the latest knowledge about the brain – for educators, students, doctors, psychologists, and other health professionals worldwide.
• 2022 was also the year when the Lundbeck Foundation established a new prize, the LF Scientific Enrichment Prize, which celebrates and recognises the best researchers who work proactively to enrich research and research environments through diversity and inclusion in the broadest sense.
• The Brain Prize was awarded for the 12th time and has truly become a global award with increased visibility and awareness. In 2022, the award went to three professors – Ole Kiehn (Denmark), Silvia Arber (Switzerland) and Martyn Goulding (USA) – who have

 

Read more in the Lundbeck Foundation's Annual Report 2022

About the Lundbeck Foundation

The Lundbeck Foundation is an enterprise foundation encompassing a comprehensive range of enterprise and philanthropic activities – all united by its strong purpose; Bringing Discoveries to Lives. The Foundation is the long-term and engaged owner of several international healthcare companies – Lundbeck, Falck, ALK and Ferrosan Medical Devices – and an active investor in business, science and people through its commercial investments in the financial markets; in biotech companies based on Danish research and through philanthropic grants to science talents and programmes in Danish universities. The Foundation’s philanthropic grants amount to more than DKK 500m annually primarily focusing on the brain – including the world’s largest personal prize for neuroscience: The Brain Prize.