2016 was a good year for Lundbeckfonden, with growth in all activities. The Foundation’s profit grew to DKK 2.465 billion, net worth increased to DKK 61.3 billion and grants totalling DKK 493 million were awarded to Danish-based biomedical sciences research.
Lundbeckfonden reached a milestone in 2016 when the market value of the Foundation’s net assets exceeded DKK 60 billion for the first time. This was primarily due to the healthy profit recorded by subsidiary H. Lundbeck in which the Foundation has a 70% shareholding. ALK reported record turnover and operating profit, although, despite a 5% increase in turnover, Falck’s operating profit fell by 18% to DKK 792 million.
During the course of the year, Lundbeckfonden Ventures invested in the newly founded biotech company Imara and sold its shares in Ziarco to Novartis, which proved to be Europe’s largest private biotech transaction in 2016. The portfolio now comprises 20 active companies, eight of which are located in the USA. After investing in NMD Pharma, Lundbeckfonden Emerge had a portfolio of three Danish companies at the end of 2016.
Although the financial markets had a turbulent year, investment of the Foundation’s available assets of approximately DKK 14 billion returned a satisfactory profit of DKK 1.138 billion (8.4%).
In 2016, Lundbeckfonden allocated a total of DKK 493 million to 462 grants. This is the second highest figure in the history of the Foundation and is equivalent to the salaries of 718 full-time research scientists in Denmark.
In 2016, the Foundation’s major research prize – The Brain Prize – was awarded to three British brain researchers for their ground-breaking research on memory. The Brain Prize (of EUR 1 million) and its associated activities are an important element of Lundbeckfonden’s special focus area – brain health. This is supported by the fact that, since 2010, almost half of the Foundation’s research grants (approximately DKK 1.6 billion) have been awarded to projects related to brain research.
“Each at their own level, all three of our subsidiaries have an excellent foundation for value-adding growth. Our Ventures and Emerge activities are showing promise and our internal asset management achieved a healthy profit yet again in 2016. Since we also expect higher dividends from Lundbeck in particular, we will at the very least be able to maintain our current level of funding – grants for half a billion Danish kroner a year,” says Lene Skole, Lundbeckfonden’s CEO.
Regitze Reeh, Director of Communications, +4530546608, firstname.lastname@example.org