H. Lundbeck A — Board/Management Information 2017

Oct 30, 2017

Valby, Denmark, 2017-10-30 20:48 CET (GLOBE NEWSWIRE) -- Valby, Denmark, 30
October 2017 - H. Lundbeck A/S (Lundbeck) today announced changes to its
Executive Management team.

Following the resignation of Kåre Schultz (President and CEO) and Staffan
Schüberg (EVP and Chief Commercial Officer) announced on 11 September 2017, the
Board of Directors has decided that as of 1 November 2017, Anders Götzsche (EVP
and CFO) will take over the operational management of the company as interim
CEO until a new CEO is in place. Both Kåre Schultz and Staffan Schüberg will
have their last day in Lundbeck on 31 October.

At the same time, Lundbeck’s current President of Lundbeck North America, Peter
Anastasiou, will join the Executive Management team while maintaining his
responsibility for Commercial Operations in North America. Jacob Tolstrup who
currently holds the position as EVP, Corporate Functions, will be responsible
for Commercial Operations in Europe, International Markets, Global Marketing
and Corporate Business Development.

“Lundbeck is in a good position with solid financial momentum for years to
come. I am pleased that we have identified a strong internal solution for the
commercial management that will allow us to continue to build on the already
successful results we have achieved.”, said Lars Rasmussen, Chairman of
Lundbeck and continues; “The Board is grateful for the achievements made by
both Kåre and Staffan. Together with the rest of the Executive Management team
they have been instrumental in transitioning Lundbeck into a new era. On behalf
of the Board of Directors I would like to thank them for their efforts and wish
them success in their future endeavors. We will now continue our search for a
new CEO for the company.”

With these changes, the members of Lundbeck’s Executive Management are:

-- Anders Götzsche, Interim CEO and Executive Vice President & CFO
-- Peter Anastasiou, Executive Vice President, North America
-- Lars Bang, Executive Vice President, Supply Operations & Engineering
-- Anders Gersel Pedersen, Executive Vice President, R&D
-- Jacob Tolstrup, Executive Vice President, Commercial Operations

Peter Anastasiou serves as President of Lundbeck North America, overseeing the
operations of both the U.S. and Canadian businesses. Peter Anastasiou has been
with Lundbeck since 2009 and has since early 2016 served as President of
Lundbeck U.S. where he oversees all aspects of the U.S value chain, directing
all Commercial, Drug Development and Corporate activities. Prior to that he
served as U.S. Chief Commercial Officer, during which time he directed the
Commercial operations of the company’s Psychiatry and Neurology franchises.
Since mid-2016, Peter Anastasiou has had the responsibility for North America
including Canada.

Before joining Lundbeck, Peter Anastasiou held a series of leadership roles
within neuroscience-focused pharmaceutical organizations. He served as Vice
President of Marketing and Reimbursement at Neuronetics, Inc., and as Director
of Abilify U.S. Marketing at Bristol-Meyers Squibb Company. He began his career
at Eli Lilly and Company, where he held a variety of Marketing and Sales
positions over the course of 11 years, including participation in the global
launch of Cymbalta.

Jacob Tolstrup joined Lundbeck in 1999 and has held several positions in
Finance, Investor Relations, Communication, Human Resource and Corporate
Business Development. Jacob Tolstrup has worked in Lundbeck affiliates in the
U.S. for approximately four years and was part of the management team of
Lundbeck U.S. in 2010-2012.

Since 2012, Jacob Tolstrup has been part of the corporate management team and
responsible for Corporate Business Development where he has worked closely with
Commercial operations and R&D to complete a number of projects to bring new
innovation to Lundbeck, including the acquisition of Chelsea Therapeutics in
2014 that added Northera to Lundbeck’s portfolio of products.

Until today’s announcement, Jacob Tolstrup was head of Corporate Functions
which comprised Corporate Business Development, Corporate Human Resources,
Investor Relations and Corporate Communication & Public Affairs.

The Board is conducting an international search to find a replacement for the
position as President and CEO of Lundbeck.

Lundbeck contacts

Investors: Media:

Palle Holm Olesen Mads Kronborg
Vice President, Investor Relations Senior Director, Corp. Communication
PALO@lundbeck.com MAVK@lundbeck.com
+45 30 83 24 26 +45 36 43 40 00

About H. Lundbeck A/S

H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY) is a global pharmaceutical company
specialized in psychiatric and neurological disorders. For more than 70 years,
we have been at the forefront of research within neuroscience. Our key areas of
focus are Alzheimer's disease, depression, Parkinson's disease and
schizophrenia.

Our approximately 5,000 employees in 55 countries are engaged in the entire
value chain throughout research, development, manufacturing, marketing and
sales. Our pipeline consists of several late-stage development programmes and
our products are available in more than 100 countries. We have production
facilities in Denmark, France and Italy. Lundbeck generated revenue of DKK 15.6
billion in 2016 (EUR 2.1 billion; USD 2.2 billion).

For additional information, we encourage you to visit our corporate site
www.lundbeck.com and connect with us on Twitter at @Lundbeck.

Safe Harbor/Forward-Looking Statements

The above information contains forward-looking statements that provide our
expectations or forecasts of future events such as new product introductions,
product approvals and financial performance.

Such forward-looking statements are subject to risks, uncertainties and
inaccurate assumptions. This may cause actual results to differ materially from
expectations and it may cause any or all of our forward-looking statements here
or in other publications to be wrong. Factors that may affect future results
include interest rate and currency exchange rate fluctuations, delay or failure
of development projects, production problems, unexpected contract breaches or
terminations, government-mandated or market-driven price decreases for
Lundbeck's products, introduction of competing products, Lundbeck's ability to
successfully market both new and existing products, exposure to product
liability and other lawsuits, changes in reimbursement rules and governmental
laws and related interpretation thereof, and unexpected growth in costs and
expenses.

Certain assumptions made by Lundbeck are required by Danish Securities Law for
full disclosure of material corporate information. Some assumptions, including
assumptions relating to sales associated with product that is prescribed for
unapproved uses, are made taking into account past performances of other
similar drugs for similar disease states or past performance of the same drug
in other regions where the product is currently marketed. It is important to
note that although physicians may, as part of their freedom to practice
medicine in the US, prescribe approved drugs for any use they deem appropriate,
including unapproved uses, at Lundbeck, promotion of unapproved uses is
strictly prohibited.