Lundbeck

{{Infobox company

| name = H. Lundbeck A/S

| logo = Lundbeck.svg

| logo_size = 225px

| type = Aktieselskab

| traded_as = {{ubl |class=nowrap |{{OMX|CSE258946|HLUN A}} |{{OMX|CSE258947|HLUN B}}}}

| founder = Hans Lundbeck

| foundation = {{Start date and age|1915|8|14|df=y}}

| location = Copenhagen, Denmark

| key_people = {{unbulleted list|Charl van Zyl (CEO, president) |Joerg Hornstein (CFO){{cite news |url=https://www.fiercepharma.com/pharma/lundbeck-replaces-retiring-ceo-dunsire-ucb-exec-after-breaking-sales-record|title=Lundbeck replaces retiring CEO Dunsire with UCB exec after breaking sales record|date=27 June 2023 |access-date=2023-06-27}}}}

| industry = Pharmaceuticals

| homepage = {{url|lundbeck.com}}

}}

H. Lundbeck A/S, commonly referred to as Lundbeck, is a Danish international pharmaceutical company engaged in the research, development, manufacturing, marketing and sale of pharmaceuticals across the world. The company’s products are targeted at brain diseases, including depression, schizophrenia, Alzheimer's disease, Parkinson's disease and migraine.{{Cite web|title=Facts and background|url=https://lundbeck.com/global/about-us/facts-and-background|access-date=2021-04-07|website=lundbeck.com}}

Headquartered in Copenhagen, Denmark, Lundbeck has approximately 5,600 employees{{Cite web |date=2021-06-11 |title=Wayback Machine |url=https://www.lundbeck.com/content/dam/lundbeck-com/masters/global-site/global-site/investors/reports-and-presentations-/2020/q4/Annual%20Report%202020.pdf |access-date=2023-01-25 |archive-url=https://web.archive.org/web/20210611093139/https://www.lundbeck.com/content/dam/lundbeck-com/masters/global-site/global-site/investors/reports-and-presentations-/2020/q4/Annual%20Report%202020.pdf |archive-date=2021-06-11 }} in more than 50 countries, and their products are registered in more than 100 countries. They have production facilities in Denmark, France and Italy and their research centers are based in Denmark and the US.

Lundbeck is listed on the Copenhagen Stock Exchange (CSE).{{Cite web |title=Shareholder Composition and Dividends |url=https://www.lundbeck.com/global/investors/the-share/shareholders-and-dividends}}

Lundbeck is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA) and of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA)

History

The company was founded by Hans Lundbeck in 1915, and was initially a trading company supplying a variety of goods to the Danish market, including machinery for manufacturing, aluminium foil, artificial sweeteners, and photographic equipment.

Lundbeck entered the pharmaceutical market in 1924, importing medicines and cosmetics from companies based in other European and American countries. By the late 1930s, Lundbeck had begun to produce its own medicinal products and had established its own research department. Production continued during the Second World War, although it was limited due to a lack of raw materials.

After the war, Lundbeck continued to grow and in 1957 the company introduced Truxal (chlorprothixene) for the treatment of schizophrenia, entering the market for brain disorders. In 1954, the Lundbeck Foundation was established to maintain and expand the activities of Lundbeck Group and also to provide funding for scientific research of the highest quality.

From the late 1970s, and up through the 1980s, Lundbeck diverted its old agency business and thus became a dedicated pharmaceutical company focusing on the production of drugs used to treat disorders and diseases of the central nervous system.

In 1989, Lundbeck launched the antidepressant Celexa (citalopram), which became the cornerstone for the company's international expansion and in 2009, Lundbeck, bought Ovation and established a commercial platform in the USA.

In 2012, to focus on newer, strategic CNS-products, Lundbeck sold a portfolio of non-core products to Recordati S.p.A. (Recordati Rare Diseases).{{cite web|author1=H. Lundbeck A/S|title=Corporate Release No 487. Lundbeck to divest a portfolio of non-core products as part of its strategy to focus on newer, strategic CNS-products|url=http://files.shareholder.com/downloads/AMDA-GGC00/3363811103x0x621984/d8fc0d60-5b1f-4f10-a88d-688a844623d7/Release%20no%20487.pdf|accessdate=29 July 2014|date=December 14, 2012|archive-date=3 March 2016|archive-url=https://web.archive.org/web/20160303215426/http://files.shareholder.com/downloads/AMDA-GGC00/3363811103x0x621984/d8fc0d60-5b1f-4f10-a88d-688a844623d7/Release%20no%20487.pdf|url-status=dead}} In 2014 Lundbeck acquired Chelsea Therapeutics for up to $658 million.{{Cite web|url=https://www.genengnews.com/news/h-lundbeck-acquiring-chelsea-therapeutics-for-up-to-658m/|title=H. Lundbeck Acquiring Chelsea Therapeutics for Up to $658M|date=May 8, 2014}}

In March 2018, the company acquired Prexton Therapeutics for up to €905 million ($1.1 billion){{Cite web|url=https://www.genengnews.com/gen-news-highlights/lundbeck-to-acquire-prexton-therapeutics-for-up-to-11b/81255596|title = Lundbeck to Acquire Prexton Therapeutics for Up-to-$1.1B|date = 16 March 2018}}

In June 2018, the former Millennium Pharmaceuticals CEO, Deborah Dunsire, was named the new CEO of Lundbeck.{{cite web |last1=Liu |first1=Angus |title=Ex-Millennium chief Deborah Dunsire looks for pipeline growth as Lundbeck's CEO |url=https://www.fiercepharma.com/pharma/former-millennium-chief-deborah-dunsire-fills-lundbeck-s-top-job-left-by-teva-headed-shultz |website=FiercePharma |date=2 July 2018 |accessdate=4 July 2018}}

In September 2019, Lundbeck announced it would acquire Alder BioPharmaceuticals $18 per share, valuing Alder at almost $2 billion.{{Cite news|url=https://uk.reuters.com/article/us-lundbeck-m-a-alder-biopharmaceuticals-idUKKBN1W10E1|archive-url=https://web.archive.org/web/20190917100048/https://uk.reuters.com/article/us-lundbeck-m-a-alder-biopharmaceuticals-idUKKBN1W10E1|url-status=dead|archive-date=September 17, 2019|title=Lundbeck buys Alder for $2 billion, eyes 'blockbuster' migraine therapy|newspaper=Reuters|date=September 16, 2019|via=uk.reuters.com}}

In June 2023, Charl van Zyl, head of neurology solutions at UCB, has announced as the next CEO and President to succeed Dunsire.{{Cite web |title=Lundbeck initiates CEO succession |url=https://www.thepharmaletter.com/article/lundbeck-initiates-ceo-succession |access-date=2023-06-27 |website=www.thepharmaletter.com}}

In October 2024, Lundbeck agreed to acquire American epilepsy drug maker Longboard Pharmaceuticals for $2.6 billion.{{Cite news |last=Singh |first=Puyaan |date=14 October 2024 |title=Denmark's Lundbeck bets on epilepsy drug with $2.6 bln Longboard deal |url=https://www.reuters.com/markets/deals/lundbeck-buy-longboard-pharma-26-billion-deal-2024-10-14/ |publisher=Reuters}}

Controversy

Lundbeck formerly held the only license to manufacture pentobarbital (Nembutal) in the United States.{{cite news

|url = http://www.cphpost.dk/business/business/51348-execution-drug-still-available-after-lundbeck-shuns-end-user-agreements.html

|title = Execution drug still available after Lundbeck shuns 'end user' agreements

|newspaper = The Copenhagen Post

|date = 1 April 2011

|accessdate = 3 July 2011

|url-status = dead

|archiveurl = https://web.archive.org/web/20110807061324/http://www.cphpost.dk/business/business/51348-execution-drug-still-available-after-lundbeck-shuns-end-user-agreements.html

|archivedate = 7 August 2011

}} The drug is commonly used for execution by lethal injection in the United States (either as part of a three drug cocktail or by itself). After coming under criticism for not adding an ‘end user’ agreement to prevent importers from selling Nembutal to American prisons for use in executions, Lundbeck announced that it would not sell Nembutal to prisons in U.S. states that carry out executions. By introducing a new distribution system, Nembutal will be supplied exclusively through a specialty pharmacy drop ship program that will deny distribution of the product to prisons in U.S. states currently active in carrying out the death penalty by lethal injection.

{{cite news

|url=https://www.wsj.com/articles/SB10001424052702304584004576419092675627536

|title=Lundbeck Seeks to Curb Use of Drug in Executions

|newspaper=The Wall Street Journal

|date=1 July 2011

|accessdate=3 July 2011}} In December 2011, Lundbeck divested a portfolio of products including Nembutal to US pharmaceutical company Akorn Inc. As part of the agreement, Akorn committed to continue with Lundbeck's restricted distribution program for Nembutal, which was implemented to restrict the use of the product in the US.{{Cite web |title=Akorn acquires controversial drug, two others from Danish firm |url=https://www.chicagobusiness.com/article/20111222/NEWS03/111229921/akorn-acquires-controversial-drug-two-others-from-danish-firm |access-date=August 6, 2022 |website=chicagobusiness.com|date=22 December 2011 }}{{Citation needed|date=July 2022}} Since 2012, US prisons have reported a serious shortage of Nembutal.{{Cite web |title=Texas is Running Out of Execution Drug |url=https://www.texasarrests.org/content/texas-running-out-execution-drug |access-date=August 6, 2022 |website=texasarrests.org}}{{Cite news |title=Special Report: How the Trump administration secured a secret supply of execution drugs |url=https://www.reuters.com/article/us-usa-executions-specialreport-idUSKBN24B1E4 |access-date=August 6, 2022 |website=reuters.com|date=10 July 2020 }}

2013 fine

On June 19, 2013, the European Commission imposed a fine of €93.8 million on Lundbeck and fined several producers of generic pharmaceuticals a total of €52.2 million after Lundbeck made agreements in 2002 with the other companies to delay less expensive generics of Lundbeck's citalopram from entering the market. In return for the ability to maintain a monopoly on the drug's manufacture, Lundbeck offered payments and other kickbacks.{{Cite web|url=https://ec.europa.eu/commission/presscorner/home/en|title=Press corner|website=European Commission - European Commission}}