Lundbeck Pharmaceutical Company Intelligence Report

Summary

Pharmaceutical company intelligence reports from Espicom provide a full review of the company's activities together with five-year sales forecasts for its key products. The company's financial performance is covered in-depth, from its latest results to a complete analysis of its latest full fiscal year and an outlook for the future. A section on company strategy covers mergers, acquisitions and divestitures, key agreements, products and R&D. An overview of key products and R&D is followed by a comprehensive review of the company's product portfolio and research and development pipeline by therapeutic area. In addition, supplementary appendices provide more in-depth information on financials, agreements and corporate events.

Lundbeck is a research-based pharmaceutical company which, since 1989, has concentrated on a single core therapeutic area, namely the development and sale of pharmaceuticals for the treatment of diseases of the central nervous system (CNS). To date, the company has largely focused on drugs for psychiatry and neurology, however it has broader ambitions, namely to become one of the world's leading specialist suppliers of drugs to treat CNS diseases. Future development and growth will be based on the maintenance and expansion of the existing business, streamlining and simplifying and creating a platform for long-term growth.

The company's research is focused on developing new products and new applications within the areas of psychiatry and neurology, such as depression, schizophrenia, anxiety, sleep disturbance and Parkinson's disease. In 2008, Lundbeck's R&D spending increased by 36.8 per cent to US$2,187.2 million from US$2,992.0 million in 2007. In 1994, Lundbeck established a new research area focusing on the development of drugs for the treatment of epilepsy. Lundbeck is also looking for novel compounds for the treatment of migraine, which are more efficacious, have a faster onset of action and fewer side effects than the currently-available triptan compounds.

Over the next few years, Lundbeck aims to: continue its focus on CNS research; continue the expansion and strengthening of its research activities; and increase its in-licensing and active life cycle management efforts to defend the market position of Lexapro and Cipralex. Lundbeck aims to launch a new drug every three to five years through a three-pronged approach: in-house research; in-licensing of both early- and late-stage drug candidates; and by entering into research alliances.

On 9th February 2009, it was announced that Lundbeck has entered into a definitive transaction agreement under which it will acquire OVATION Pharmaceuticals in an all-cash transaction valued at up to US$900 million (approximately DKr 5.2 billion). The Supervisory Board at Lundbeck and the Board of Directors of OVATION have unanimously approved the transaction.

The acquisition of OVATION delivers on Lundbeck's strategic goal to build a commercial infrastructure in the US. OVATION is a Deerfield, IL-based company with a broad portfolio of marketed products and an attractive pipeline of new, innovative products primarily focused on central nervous system disorders. The pipeline is expected to significantly drive growth in the coming years through multiple product launches. Following the transaction, Lundbeck will have a diverse portfolio of marketed products and a broader pipeline, primarily focused on CNS.

Contents

• Latest Results
• EXECUTIVE SUMMARY
  • Introduction
  • Current Financial Position
  • Company Performance
  • Geographic Segment Performance
  • Company Strategy
  • Key Mergers, Acquisitions and Divestitures
  • Key Agreements
  • Discontinued Agreements
  • Research and Development
  • Production
  • Employees
  • Product Performance Forecasts
  • Pipeline Analysis
  • Discontinued R&D Projects
  • Outlook/Conclusions
• THERAPEUTIC AREA FOCUS
  • R&D PIPELINE
• CENTRAL NERVOUS SYSTEM
  • Marketed Products
  • Depression
  • Cipralex/Lexapro
  • Others
  • Alzheimer's Disease
  • Ebixa
  • Psychoses
  • Serdolect/Serlect
  • Others
  • Parkinson's Disease
  • Agilect/Azilect
  • Other CNS Products
  • R&D Projects
  • Psychoses
  • Bifeprunox
  • Flurizan
  • Lu
  • Lu AA37070
  • Lu AA38466
  • Lu AA39959
  • Lu AE58054
  • Depression
  • Lu AA21004
  • Lu AA24530
  • Lu AA34893
  • Other
  • Revex
  • Growth Forecast
  • OTHER
  • R&D Projects
  • Desmoteplase
  • Lu AA24493
• APPENDIX 1 - FINANCIAL PERFORMANCE
  • Full Year Results 2008
• APPENDIX 2 - KEY CORPORATE EVENTS
• APPENDIX 3 - KEY AGREEMENTS
  • Biotie Therapies Corporation
  • BrainCells Inc
  • Cue Biotech
  • Forest Laboratories Inc
  • Gene Logic Inc
  • Johnson & Johnson
  • Merz + Co GmbH & Co
  • Neurim Pharmaceuticals Ltd
• PAION AG
  • Pharmexa AS
  • Solvay
  • Takeda Pharmaceutical
  • Teva Pharmaceutical Industries Ltd
  • Warren Pharmaceuticals
• APPENDIX 4 - INFRASTRUC TURE
  • Manufacturing Facilities
  • Research & Development Facilities
• APPENDIX 5 - MAJOR PHARMACEU TICAL
• SUB SIDIARIES AND ASSOCIATED COMPANIES
• APPENDIX 6 - PRODUCT INDEX
  • Index of Tables
  • Principal Operating Results
  • Sales By Geographical Area
  • Employees By Function (Year End)
  • Recent Product Approvals
  • Major Products, Therapeutic Areas and Sales
  • Major Central Nervous System Products, 2008
  • Index of Charts
  • Sales, Costs and Operating Income
  • Sales By Geographical Area, 2008
  • Employees By Function, Year End 2008
  • Sales of Current Top Five Products (2003A-2013E)
  • Top Selling Products, 2008
  • Cipralex Sales (2003A-2013E)
  • Ebixa Sales (2003A-2013E)
  • Serdolect Sales (2006A-2013E)
  • Azilect Sales (2005A-2012E)
  • Bifeprunox Sales (20010E-2015E)
  • Revex Sales (2010E-2015E)
  • Desmoteplase Sales (2010E-2015E)
  • Sales, Costs and Operating Income
  • Profitability and Research Ratios
  • R&D Expenditure and Capital Expenditure
  • Current Assets, Liabilities and Ratio
  • Assets, Cash and Liquidity
  • Employees and Productivity