H. Lundbeck A — Director's Dealing 2010

May 10, 2010

H. Lundbeck A/S

DK-2500 Valby, Copenhagen Fax +45 36 43 82 62 www.lundbeck.com CVR number: 56759913

Ottiliavej 9 Tel +45 36 30 13 11 E-mail investor@lundbeck.com

Corporate Release No 404

10 May 2010

Announcement of transactions with shares and linked securities in H. Lundbeck A/S made by executives and their closely associated persons and legal entities

H. Lundbeck A/S hereby reports transactions made by executives and persons and legal entities closely associated to them with shares in H. Lundbeck A/S and linked securities, cf. section 28a of the Danish Securities Trading Act.

The list is based on reports received by H. Lundbeck A/S from the company's executives today or yesterday.

Name:	Jes Østergaard
Job position of the executive:	Member of the Board
Relation to executive (associated person or legal entity):
ID code (ISIN code):	DK 0010287234
Description of the security:	Share
Nature of the transaction:	Purchase of shares
Date of trading:	7 May 2010
Market on which the trading was effected:	Nasdaq OMX Copenhagen
Number of traded securities:	1,000 Shares
Market price of securities traded:	90,000 DKK

Persons/entities under an obligation to report

Persons or entities under an obligation to report are defined as members of the Executive Management and the Supervisory Board of H. Lundbeck A/S and persons/entities closely associated to them.

Closely associated persons/entities means inter alia:

• · spouse or cohabitant
• · children below the age of 18
• · legal entities in which the insider has a controlling influence

The content of this release will have no influence on the Lundbeck Group's financial expectations for 2010.

Lundbeck contacts

Investors: Media:

Jacob Tolstrup Mads Kronborg Vice President, IR & Communication Media Relations Manager +45 36 43 30 79 +45 36 43 28 51

Palle Holm Olesen Stine Hove Marsling Chief Specialist; Investor Relations External Communication Specialist +45 36 43 24 26 +45 36 43 28 33

Magnus Thorstholm Jensen Investor Relations Officer +45 36 43 38 16

About Lundbeck

H. Lundbeck A/S (LUN.CO, LUN DC, HLUKY) is an international pharmaceutical company highly committed to improve the quality of life for people suffering from central nervous system (CNS) disorders. For this purpose Lundbeck is engaged in the research and development, production, marketing and sale of pharmaceuticals across the world, targeted at disorders like depression and anxiety, schizophrenia, insomnia, Huntington's, epilepsies, Alzheimer's and Parkinson's diseases.

Lundbeck was founded in 1915 by Hans Lundbeck in Copenhagen, Denmark, and employs today approximately 5,900 people worldwide. Lundbeck is one of the world's leading pharmaceutical companies working with CNS disorders. In 2009, the company's revenue was DKK 13.7 billion (approximately EUR 1.8 billion or USD 2.6 billion). For more information, please visit www.lundbeck.com.