refers to various theories about heredity, environmental impacts, head trauma, side-effects of drugs and autoimmune processes. In all events, it is difficult and timeconsuming to arrive at the optimum combination and dosage of drugs for the individual patient at a given point in time. The disease is progressive, so the treatment has to be constantly adjusted. TREATING THE SYMPTOMS The problems in finding a real causal relationship for Parkinsons disease makes it extremely difficult to prevent or cure the disease. All one can do is to reduce the symptoms so that the patient can live almost normally. We now have many drugs for treating Parkinsons disease, says Lene Werdelin, but most of them have serious, longterm side-effects. That applies, for example, to levodopa preparations, which still play a central role in the treatment of the disease. Levodopa is a synthetic substance which is converted into dopamine in the brain. When it was introduced at the beginning of the 1970s, many people regarded it as a miracle cure because it did a good job of reducing the symptoms in the early phases of the disease. Unfortunately, the effect diminishes after 7-10 years and, in many cases, the therapeutic interval contracts, so the patient alternately experiences symptoms of overdosing and underdosing in the form of dyskinesia and hyperkinesia - in other words, involuntary and unpredictable movements that come and go as if a switch is turned on and off - the socalled on-off effect. To reduce the sideeffects and postpone the time when tolerance to the drug falls, we therefore combine the levodopa treatment with other products, such as dopamine agonists, which, although not quite as effective, have the advantage of being absorbed directly into the brain without first having to be converted into dopamine. Similarly, we can combine the effective preparations with various `inhibitors, which prevent levodopa from undesirable degredation. With this, more dopamine is forced into the central nervous system (CNS). Lastly, we have the very promising new dopamine-reuptake inhibitors, which prevent the reuptake of dopamine, so that the amount of the substance already in the brain is utilised better. The principle is thus the same as in the case of serotonin. KEEP YOUR BRAIN IN SHAPE Although the ultimate therapy has not yet been found, Lene Werdelin urges patients and their families to keep making demands in order to gain better understanding of the problems of the disease. In her view, far too little is known about both neurological and psychiatric diseases, and people are not aware that much can be done to relieve the symptoms. Some CNS diseases can be controlled to an extent that the patient can function almost normally. In addition, new and better drugs that can help in the treatment of these diseases are being developed all the time. To increase public awareness in Denmark of neurological and psychiatric diseases and the existing possibilities for prevention and treatment, Lene Werdelin is actively involved in The Year of the Brain, a countrywide, interdisciplinary initiative to promote interest in the central nervous system and its functions. At the same time, she wants to get the message home: Keep your brain in shape throughout your life. She says, It is important to use ones brain and look for new challenges. That applies to older people as well. If ones brain falls into decay, ones body seems to become more infirm as well. One of the aims of The Year of the Brain is to get more people to take up cerebral gymnastics. Gerrit Sips, Looking in the Sand, 90 x 15 x 30 cm. symptom-reducing drugs, will delay disease progression. If we succeed, we shall have achieved a decisive breakthrough in the treatment of Parkinsons disease. Lundbecks pioneering work within neurology may thus blaze a new trail. PIONEERS IN NEUROLOGY Lundbeck and Centaur are concentrating on their joint development project within parkinsonism. The aim is to find a preparation which, unlike the existing 19 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