Year in review
Annual reporting 2024
2024 has been a transformative year laying the foundation for a promising future for Lundbeck and for the patients we serve. As one of few pharmaceutical companies solely focusing on neuroscience, the world depends more than ever on our contribution to advancing brain health and transforming lives of those who need our treatments.
Letter to shareholders
Charl Van Zyl, President & CEO and Lars Søren Rasmussen, Chair of the Board
We see a growing neuroscience market and expect it to continue at an 8% annual growth rate. In the U.S. and Europe, neuroscience is in the top 3 for new drug approvals. Adding rapidly evolving science and technologies that will fuel our innovation at a new pace, and a range of new drug modalities which will expand our treatment opportunities, we see a very promising future ahead of us, patients, people and society.
Financial highlights
In 2024, our people excelled in generating the highest revenue ever recorded, notably while further strengthening our pipeline of innovative and promising late-stage assets. Lundbeck continues to deliver solid growth, driven by the strong performance of our strategic brands.
22,004
Total revenue (DKKm)
6,347
Ajusted EBITDA (DKKm)
3,143
Net profit (DKKm)
16,462
Revenue from strategic brands (DKKm)
5,146
Operating profit before depreciation and amortization - EBITDA (DKKm)
(12,182)
Net debt (DKKm)
Sustainability highlights
In 2024, we made progress on our sustainability objectives and achieved key milestones, even though five sustainability targets were not met. We remain committed to advancing our performance while being transparent about the challenges along the way. 2024 marks the first year that Lundbeck presents an integrated annual report with extensive sustainability disclosures.
38%
Reduction in scope 1 & 2 greenhouse gas emissions since 2019.
7.2 million
Estimated full-year patients reached.
100%
Share of employees who completed the annual e-learning on our Code of Conduct.
62%
Recovery of selected organic solvents used in chemical production.
35%
Gender split for senior managers globally of 35% women and 65% men.
3.2
Frequency of lost time accidents per one million working hours for all employees globally.
Strategy update
In 2024, we launched the Focused Innovator Strategy in support of our purpose to advance brain health and transform lives. We aim at winning in neuro-rare and specialist-treated disease areas by securing mid-term growth, leading with focused innovation, and delivering on sustainable profitability. With the 2024-acquisition of Longboard Pharmaceuticals, we have significantly enhanced our neuroscience pipeline.
Our business model and value chain
At Lundbeck, we discover, develop, and commercialize treatments that make a difference to people affected by psychiatric and neurological disorders.
We cover the full value chain
We have more than 70 years of experience in neuroscience and in improving the lives of people with brain disorders.
- We research to build a strong pipeline consisting of promising molecules and antibodies.
- We develop our drug candidates into new medicines.
- We manufacture medicines at highly advanced production sites and continue to supply our drugs to patients in need.
- We make our medicines available through healthcare systems in more than 100 countries.
We are around 5,600 highly specialized employees across +50 countries.
We focus our innovation within psychiatry and neurology
We are one of the few biopharmaceutical companies in the world working exclusively within neuroscience.
- Psychiatry covers psychotic disorders like schizophrenia, mood and anxiety disorders like depression, bipolar disorder, and post-traumatic stress disorder.
- Neurology covers disorders like migraine, dementia, and movement disorders like Parkinson’s disease, epilepsy, and multiple system atrophy (MSA).
- Neuroscience is an exciting growing area with large unmet medical needs. We see growth and rapidly evolving technologies and methodologies.
We work in partnerships to fight stigma and address the large unmet medical needs.
We ensure positive outcomes to people and societies
Everywhere we operate, we strive to create long-term value and make a positive contribution to people and societies.
- +7 million patients around the world are helped by our medicines daily.
- We reinvest around 20% of our revenue in R&D to continue our development of new, innovative drugs.
- Throughout our value chain, we incorporate patient insights by talking to and learning from those with lived experiences.
- We create shareholder value ensuring sustainable and profitable growth.
We act to improve health equity for the patients we serve and the communities we are part of.
