A STEP IN THE RIGHT DIRECTION Professor Norman Sartorius, President of the World Psychiatric Association (WPA), takes a close interest in the situation of people in central and eastern Europe who suffer from mental illnesses. In spite of high professional standards in medicine, the treatment of psychiatric patients in these countries has lagged far behind treatment in the western world, largely as a result of limited financial resources. The difficult financial situation combined with inadequate physical facilities and a lack of all medical supplies, including medicaments, particularly those that have been developed recently, lead to great difficulties in the provision of mental health care, he says. Norman Sartorius, Professor Chairman for World Psychiatric Association AN UNUSUAL PARTNERSHIP The story of Lundbeck Ergotherapeutic Centre began in the winter of 1989-90, when Romania was in the throes of violent revolution. At that point, television news all over the world gave massive coverage to the repressive actions of the army, the widespread destruction and the desperate plight of the civilian population. These events prompted a group of Norwegians to establish Grenlandsaksjonen to distribute food, medicine, hospital equipment and other basic necessities to the Romanian population. As a result of these humanitarian activities Grenlandsaksjonen developed a wide network of contacts in Romania. One such contact was with the psychiatric hospital in Tirgu Ocna, a small town 200 kilometres north of Bucharest, close to the Moldavian border. One of the volunteers who visited the hospital was Kjell Elgen, who had just retired after 40 years with Lundbeck. He was so appalled by conditions at the hospital that he proposed that Lundbeck should sponsor the establishment there of an ergotherapeutic centre. This created the basis for an unusual partnership between Grenlandsaksjonen, Lundbeck and the Romanian authorities. It was agreed that Grenlandsaksjonen should be responsible for the construction of a new building, to be sponsored by Lundbeck and handed over to the Romanian state. Thus, construction of the building is an element in the devel- GROWING OPTIMISM One of the countries with major problems in providing modern treatment of psychiatric patients has been Romania. However, following the democratic election of Emil Constantinescu as the first non-Communist president in 50 years, there has been growing optimism throughout society. There is thus a widespread belief in the world of psychiatry in a brighter future. This was made clear to Lundbeck Overseas in December 1996, when the company acted as host in an event arranged for Romanias leading psychiatrists. The event was held to celebrate the opening of the Lundbeck Ergotherapeutic Centre at the psychiatric hospital in Tirgu Ocna. The Norwegian humanitarian organisation Grenlandsaksjonen was the driving force behind the project. 14
CONTENTS Supervisory Board and Board of Management . . . . . . . . . . . . . . . . . . . . 4 The Sup
SPECIALISTS IN PSYCHIATRY PIONEERS IN NEUROLOGY As a specialist, one must constantly seek knowledge
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 and
2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Net turnover (DKKm) 1,853 2,326
THE SUPERVISORY BOARDS REPORT DEVELOPMENT OF STRATEGY The rules of play for pharmaceutical companies
2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Average number of employees Outs
THE SUPERVISORY BOARDS REPORT The development of Serdolect®/Serlect® for the American market has tak
ART OR THERAPY In 1988 a group of Dutch psychiatrists formed the Art & Psychiatry Foundation arr
Art & Psychiatry Foundation is therefore to question the concept art and serve as a mediator bet
THE VALUE OF CREATIVE THERAPY In spite of the lack of scientific studies of creative therapy, both p
and the methods we employ. For me it is important to keep wondering, says Dr. de Groot. In this way,
A STEP IN THE RIGHT DIRECTION Professor Norman Sartorius, President of the World Psychiatric Associa
opment of a part of the national mental health programme in which Lundbeck and Grenlandsaksjonen wil
NATURAL CONSIDERATIONS We have a major responsibility for the internal and external environment in c
changes without taking the necessary precautions, and the knowledge that a defective filter or an ov
FOCUS ON PARKINSONS DISEASE Lundbeck works in two main areas. For this reason we describe ourselves
refers to various theories about heredity, environmental impacts, head trauma, side-effects of drugs
A PRODUCT WITH POTENTIAL There is broad agreement that the development of specific serotonin-reuptak
and on their family and social relations. In fact, the quality of life of patients with phobias is j
ITS ALL ABOUT PREVENTION In 1993, Lundbeck, working in close cooperation with some of the worlds lea
Preclinical tests show that preparations like Serdolect®/Serlect® do not affect the part of the brai
LUNDBECKS PRODUCTS Lundbeck specialises in the development of new and better drugs for the treatment
In April 1997, we sold the rights to Ketogan® and Ketodur® to Searle Scandinavia (a division of Mons
LUNDBECK WORLDWIDE Lundbecks head office is situated in Valby, near the centre of Copenhagen. It hou
Norway H. Lundbeck A/S P.O. Box 361 Lysaker torg 10, N-1324 Lysaker Tel: +47 6753 5372 Fax: +47 6753
THE LUNDBECK FOUNDATION AWARD FOR OUTSTANDING RESEARCH H. Lundbeck A/S is fully owned by the Lundbec
ACCOUNTS
SUMMARY FOR THE GROUP 1987-1996 Profit and loss account (DKKm) Net turnover Profit before R&D co
Key figures Average number of employees Net profit ratio before R&D costs (%) Net profit ratio (
COMMENTS ON THE ACCOUNTS CHANGES IN ACCOUNTING POLICIES With effect from the annual accounts for 199
3,000 2,750 2,500 2,250 2,000 1,750 1,500 1,250 1,000 750 500 250 0 Turnover (DKKm) Cipramil®/Sero
COMMENTS ON THE ACCOUNTS 100% 90% 80% 70% 60% 18 26 20 22 23 36 35 34 33 Cost structure (%) 28 Pro
450 400 350 300 250 200 150 100 50 0 -50 -100 -150 Cash flow (DKKm) 281 282 231 191 203 164 145 98
FINANCIAL COMMENTS GENERAL The Lundbeck Groups financial income and expenses in 1996 were influenced
Lundbecks cash flows in foreign currencies in 1996 were concentrated around SEK, FRF, FIM and DEM bl
ACCOUNTING POLICIES GENERAL The annual accounts and the consolidated accounts have been prepared in
THE BALANCE SHEET INTANGIBLE FIXED ASSETS Intangible fixed assets are stated at cost less accumulate
Win Van Niel, Daoux Rex, bronze, 35 x 25 x 8 cm. 40
PROFIT AND LOSS ACCOUNT PARENT COMPANY 1995 DKKm 1,042.8 469.1 157.3 160.8 255.6 221.2 12.7 5.9 41.2
BALANCE SHEET AT 31 DECEMBER ASSETS PARENT COMPANY 1995 DKKm 21.0 11.0 32.0 312.3 97.2 112.2 114.0 6
BALANCE SHEET AT 31 DECEMBER LIABILITIES PARENT COMPANY 1995 DKKm 110.0 14.7 25.5 785.1 935.3 1996 D
STATEMENT OF SOURCES AND APPLICATION OF FUNDS GROUP 1996 DKKm 310.8 5.0 84.3 400.1 -47.2 -78.4 78.0
SIGNATURES Copenhagen, 24 April 1997 THE Erik Sprunk-Jansen President BOARD OF MANAGEMENT Ib D.
NOTES 1 NET TURNOVER PARENT COMPANY 1995 DKKm 282.2 760.6 1,042.8 1996 DKKm 263.0 1,150.7 1,413.7 De
Production, distribution, administration, and research and development costs include depreciation et
NOTES 4 FINANCIAL ITEMS, NET PARENT COMPANY 1995 DKKm 44.4 1.4 30.4 2.8 79.0 43.4 5.5 8.8 57.7 21.3
6 FOREIGN CURRENCY TRANSLATION OF SUBSIDIARIES PROFIT AND LOSS ACCOUNTS AT THE EXCHANGE RATE RULING
NOTES 7 INTANGIBLE AND TANGIBLE FIXED ASSETS GROUP: Research and Leasehold INTANGIBLE development im
7 INTANGIBLE AND TANGIBLE FIXED ASSETS - CONTINUED PARENT COMPANY: Research and Leasehold INTANGIBLE
NOTES 8 SHARES IN SUBSIDIARIES Total Purchase price 84.8 4.1 -115.5 145.8 88.9 56.1 -3.2 39.5 -18.7
8 SHARES IN SUBSIDIARIES - CONTINUED Specified as follows: Equity value at 31.12.1996 DKKm 1.6 57.0
NOTES 9 OTHER SHAREHOLDINGS AND OTHER RECEIVABLES PARENT COMPANY Other shareholdings 4.5 1.6 -0.7 5.
11 PROVISIONS FOR DEFERRED TAX Timing differences between amounts as stated in the accounts and as c
NOTES 13 DEBT PARENT COMPANY 1995 DKKm 378.2 27.7 141.7 547.6 10.3 11.7 22.0 569.6 18.2 84.5 0.0 50.
14 CHANGE IN INTEREST-BEARING DEBT GROUP 1996 DKKm Proceeds in connection with the raising of intere
Marjanne Voolstra, Eerste berg, acrylic paint on paper, 100 x 70 cm. 58
INTEGRATED THERAPY When disease strikes, it is not just a case of a fault in the works that has to b
The story of Lundbecks logo is rather unusual. It goes back to the 1930s and Paris, where Grete Lund
