Lundbeck worldwide Parent company H. Lundbeck A/S Ottiliavej 9 DK-2500 Copenhagen - Valby Tel: +45 3630 1311 Fax: +45 3630 1940 e-mail: information@lundbeck.com Denmark Lundbeck Pharma A/S Dalbergstrøget 5 DK-2630 Taastrup Tel: +45 4371 4270 Fax: +45 4371 4274 Managing Director: Jan H. Iversen A/S Lundbeck Overseas Ottiliavej 9 DK-2500 Copenhagen - Valby Tel: +45 3630 1311 Fax: +45 3630 1545 Regional Vice President: Karsten Gronemann Estonia Lundbeck Eesti AS Riia 132, EE-2400 Tartu Tel: +372 7 390 161 Fax: +372 7 390 183 General Manager: Erik Allikmets Finland OY H. Lundbeck AB Lemminkäisenkatu 14-18 B FIN-20520 Turku Tel: +358 2 276 5000 Fax: +358 2 276 5001 Regional Vice President: Håkan Kotka France Lundbeck SA 37 avenue Pierre 1er de Serbie F-75008 Paris Tel: +33 1 5367 4200 Fax: +33 1 4723 4510 Regional Vice President: Eric Felber Germany Promonta Lundbeck Arzneimittel GmbH & Co Amsinckstrasse 57-61 D-20097 Hamburg Tel: +49 4023 649 0 Fax: +49 4023 649 255 Regional Vice President: Flemming Juul Jensen Greece Lundbeck Hellas S.A. 64, Kifisias Avenue GR-151 25 Marousi, Athens Tel: +30 1680 5036 Fax: +30 1680 5039 Managing Director: John Bo Jacobsen Hungary Lundbeck Hungary Ltd. Andrássy út 64 H-1062 Budapest Tel: +36 1 153 0299 Fax: +36 1 153 0320 Regional Vice President: Ernst Kutrovatz Country Manager: Lajos Hári Ireland Lundbeck (Ireland) Limited Unit 5, Leopardstown Office Park Sandyford Industrial Estate Foxrock, IRL-Dublin 18 Tel: +353 1 294 1544 Fax: +353 1 294 1547 Managing Director: Pascal King Italy Lundbeck Italia S.p.A. Via G. Fara 35 I-20124 Milan Tel: +39 2677 4171 Fax: +39 2677 41720 Regional Vice President: Franz Schneller General Manager: Ettore Marre Latvia Lundbeck Latvia Kleistu iela 24, LV-1067 Riga Tel: +371 740 7581 Fax: +371 740 7580 Regional Vice President: Håkan Kotka Manager: Pauls Brieze The Netherlands Lundbeck B.V. Hettenheuvelweg 37-39 NL-1101 BM Amsterdam Tel: +31 20 6 971 901 Fax: +31 20 6 910 632 Regional Vice President: Jacques Bedoret New Zealand Lundbeck New Zealand Limited C/-Zuellig Pharma Limited 54 Carbine Road NZ-Mt. Wellington Tel: +64 9570 1080 Fax: +64 9570 1081 Managing Director: Steve Maritz Norway H. Lundbeck A/S P.O. Box 361 Lysaker torg 10, N-1324 Lysaker Tel: +47 6753 5372 Fax: +47 6753 7707 Managing Director: Stig Eilert Paulsen Portugal Lundbeck Portugal Produtos Farmacêuticos, Lda c/o Mr M.P. Barrocas Av. Fontes Pereira de Melo, 15-7 P-1050 Lisbon Tel: +351 1 1314 2156 Fax: +351 1 357 6202 Regional Vice President: Franz Schneller Synthesis factories: Denmark H. Lundbeck A/S Oddenvej 182, Lumsaas DK-4500 Nykobing Sj. Tel: +45 59 32 11 71 Fax: +45 59 32 00 97 Director of Chemical Production: Poul Dahlberg Nielsen United Kingdom Lundbeck Pharmaceuticals Ltd. Seal Sands, Middlesborough GB-Cleveland TS2 1UB Tel: +44 16 42 54 6 574 Fax: +44 16 42 54 6 085 Operations Director: Peter S. Trickett Subsidiaries: Australia Lundbeck Australia Pty. Ltd. Unit 4/10 Gladstone Road AUS-Castle Hill NSW 2154 Tel: +61 2 9894 2100 Fax: +61 2 9894 2522 Managing Director: Steve Maritz Austria Lundbeck Arzneimittel Ges.m.b.H. Brigittagasse 22-24 Postfach 61, A-1201 Vienna Tel: +43 133 1070 Fax: +43 133 1079 Regional Vice President: Ernst Kutrovatz Belgium Lundbeck S.A. Avenue Molière 225 B-1050 Brussels Tel: +32 2 340 2828 Fax: +32 2 346 4777 Regional Vice President: Jacques Bedoret Canada Lundbeck Canada Inc. World Trade Centre 413 St-Jacques Street West Suite FB-230 CND-Montreal (Quebec) H2Y 1N9 Tel: +1 51 4844 8515 Fax: +1 51 4844 5495 Managing Director: Ole Chrintz 34 Contents Supervisory Board and Board of Management A clear vision The way forward A continuously dev Supervisory Board Arne V. Jensen (Chairman) Jørgen Fakstorp (Vice-Chairman) Lars Bruhn Henrik He Board of Management Erik Sprunk-Jansen President Eva Steiness Executive Vice President Research an Georgios Peros, Abstract, 1990 A clear vision Lundbeck has a clear vision. We intend to become one The way forward Strategy is planning - the ability to see where we are, where we are going and how A visionary goal Our goal is to become one of the worlds leading companies in the treatment of psych A continuously developing organisation Lundbeck is a continuously developing company. Growing inter Group structure The Lundbeck Foundation H. Lundbeck A/S Synthesis factories Region Scandinavia &am The pharmaceutical industry Market conditions in the pharmaceutical industry In 1996, the global ph K. Nathanael, Sunset, 1997 Sales and marketing The sales figure for 1997 places Lundbeck as one of Lundbecks products Lundbecks research and development activities are concentrated on developing new Koprianos, Town, 1996 Lastly, Lundbeck has a promising substance under development for treatment of The Supervisory Boards Report Net turnover (DKKm) 3,000 2,662 Net turnover 2,500 2,000 1,500 1,000 During the last few years, the pharmaceutical industry has undergone marked changes, resulting in a The Supervisory Boards Report Average number of employees 2,500 Subsidiaries Parent companies 2,000 At the annual general meeting on 16 May 1997, the employee bonus/profit distribution scheme that had The Supervisory Boards Report Lundbeck International Psychiatric Institute As a specialist in psych Spyros Loukidis, Windows, 1995 17 Environmental Report The Managements Declaration Lundbeck regards openness about the companys healt Environmental Report 1997 In 1997, Lundbeck continued developing a health, safety and environmental Environmental Report Lundbeck - general Lundbeck has its headquarters, with its management, adminis K. Fyra, Abstract, 1994 The first steps in the process are often carried out in Seal Sands, while t Environmental Report Summary of the Groups environmental status Below a short summary is given of t the waste water, while the remaining approx. 1,200 tonnes are sent to a special chemical waste dispo The Lundbeck International Psychiatric Institute The Lundbeck International Psychiatric Institute Ex ment, education of patients and their families, and Quality Management within psychiatric treatment. Art can overcome prejudices In Greece, as in many other countries, the general attitude to psychiat Giannis Papadakis, Abstract, 1997 Strengthening local collaboration The exhibitions are held in col PsychiatryLink an Internet introduction http://www.psychiatrylink.com will give you the possibility Lundbeck presents http://www.psychiatrylink.com The development of the first version of Lundbecks ne EPOS EPOS: European Post-marketing Observational Serdolect®/Serlect® project: increasing our unders Giannis Pachis, Excommunication, 1997 Unlike controlled clinical trials, the EPOS project has been My dream changes from colour to black and white Depression is about the worst thing anyone can exper The pieces fall into place That was the start of a life with changing psychopharmacological drugs, a Lundbeck worldwide Parent company H. Lundbeck A/S Ottiliavej 9 DK-2500 Copenhagen - Valby Tel: +45 Slovenia Lundbeck Pharma AS Presernova 1 (2. nadstropje) SLO-2000 Maribor Tel/Fax: +386 62 221 943 R The Lundbeck Foundation Award for Outstanding Research The Lundbeck Foundation, which makes substant V. Kafivas, Garden, 1996 Accounts 37 Summary for the Group 1993-1997 Profit and loss account (DKKm) Net turnover Profit before R&D c Key figures Average number of employees Average number of shares (million)*) Earnings per share (DKK Comments on the accounts Profit for the year In 1997, profit developed positively. Profit for the y The limited effect of the policy changes in 1997 is due to the movement in the size and composition Comments on the accounts Under the changed accounting policies, the results of foreign subsidiaries At the end of 1997, Lundbecks new antipsychotic drug, Serdolect®/Serlect®, had been launched in 10 E Comments on the accounts Other operating income, net Other operating income, net, amounted to DKK 8 In 1997, capital investments totalled DKK 188 million against DKK 224 million in 1996. As in 1996, t Financial comments General In 1997, the Lundbeck Groups financial income and expenses were affected The Groups loans on mortgage credit-like terms at 31 December 1997 Outstanding debt CIBOR-based loan Financial comments At the present moment it is very likely that Italy, Spain and Portugal will also Lundbecks exchange rate index (1988 = 100) 104 102 100 98 96 94 92 90 88 (Jan.) 89 90 91 92 93 94 95 Accounting policies General The annual accounts and the consolidated accounts have been prepared in The consolidated accounts are prepared on the basis of the accounts of the parent company and the su Accounting policies Provision is made in the balance sheet for the present value of plans which are The cost of new buildings and erection by the company of its own technical installations and machine Profit and loss account for the year ended 31 December 1997 Parent company 1996 DKKm 1,411.1 503.6 Per share ratios (DKKm) 150 137 Net asset values Cash flow 125 100 80 82 114 Earnings per share Balance sheetat Assets Parent company 1996 DKKm 18.0 9.6 27.6 386.1 140.4 101.5 146.6 774.6 95.4 5. Balance sheetat Liabilities Parent company 1996 DKKm 110.0 56.1 1,086.2 1,252.3 1997 DKKm 110.0 77. Statement of sources and application of funds for the year ended 31 December 1997 Group Notes Oper Signatures Copenhagen, 12 March 1998 The Supervisory Board and the Board of Management have today c Notes to the profit and loss account 1 Net turnover Parent company 1996 DKKm 263.0 874.7 176.9 96.5 Production, distribution, administration, and research and development costs incl. depreciation etc. Notes to the profit and loss account 4 Other operating income Parent company 1996 DKKm 3.1 3.1 1997 6 Tax on the profit for the year Parent company 1996 DKKm 1.3 0.8 1997 DKKm 49.7 - 0.1 Tax due on th Notes to the balance sheet 7 Intangible and tangible fixed assets Group: Research and development c Land and buildings DKKm Technical plant and machinery DKKm Other fixtures and fittings, tools and Notes to the balance sheet 8 Shares in subsidiaries Total DKKm Book value at 1.1.1997 Adjustment du 8 Shares in subsidiaries - continued Net asset value at 31.12.1997 DKKm H. Lundbeck A/S, Norway H. L Notes to the accounts 9 Other shareholdings and other receivables Parent company Other shareholding 11 Capital and reserves Group 1996: Share capital DKKm Capital and reserves at 1.1.1996 Adjustment d Notes to the accounts 11 Capital and reserves - continued Parent company 1996: Share capital Revalu 12 Provisions for pensions Group: The Group operates with two types of pension plans: defined contri Notes to the accounts 13 Provisions for deferred tax Group: Temporary differences between calculati 13 Provisions for deferred tax - continued Parent company: Temporary differences between calculation Notes to the accounts 15 Contractual obligations Rentals and leasing obligations Lundbeck has commi Notes to statement of sources and applicational funds 17 Adjustments Group: 1997 DKKm Depreciation e Michalis Manolopoulos, Landscape, 1997 Lundbecks new logo Lundbeck has introduced a new logo that clearly expresses our identity, vision an