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The Lundbeck Foundation reports a profit of DKK 2,7 billion

In 2010 the Lundbeck Foundation obtained a profit of DKK 2.7 billion (? 362 million) which is the second best result since its establishment in 1954.

Grants to unrestricted university research amounted to DKK 384 million, which is the highest level ever. Grants of DKK 273 million went to basic research of which DKK 50 million went to five scholarships to outstanding young researchers wishing to establish their own research groups at a Danish university.

H. Lundbeck A/S, in which the Lundbeck Foundation is the principal shareholder, achieved in 2010 it’s best ever result with growth in both turnover and profit, which has contributed to the Foundation’s result. Since the IPO of H. Lundbeck A / S the Lundbeck Foundation’s net assets have doubled to DKK 28.5 billion of which approx. half is invested in H. Lundbeck. Other major investments are ALK-Abelló and Falck.

H. Lundbeck’s press release regarding the AGM stated that the Lundbeck Foundation’s future Managing Director, Christian Dyvig, together with Håkan Björklund are proposed elected to Lundbeck’s Supervisory Board. The Lundbeck Foundation finds that Christian Dyvig with his considerable experience in international finance and business operations and transactions will be able to contribute to Lundbeck’s continued positive development. The other proposed new member, Håkan Björklund, CEO of Nycomed, can with his extensive international experience from the pharmaceutical industry also contribute positively to H. Lundbeck’s development.

The Foundation would like to thank Per Wold-Olsen and Egil Bodd for their significant contributions to secure Lundbeck’s future options in relation to the challenges faced in connection with patent expirations.

In today’s press release ALK-Abelló announced that the board’s current chairman Jørgen Worning and Nils Axelsen will not be up for re-election to the board. The Foundation wishes to thank both for their longstanding contributions to the company’s development. It is also stated that Jes Østergaard and Steen Riisgaard are proposed elected members of the company’s Board of Directors, both have experience, which is highly relevant for the company.

Any inquiries can be directed to the Lundbeck Foundation Managing Director, Steen Hemmingsen at phone: +45 3912 8000.

Press_release_7_3_2011.pdf

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