History
The company was founded by Hans Lundbeck in 1915, and was initially a trading company supplying a variety of goods to the Danish market, including machinery for manufacturing, aluminium foil, artificial sweeteners, and photographic equipment.
Lundbeck entered the pharmaceutical market in 1924, importing medicines and cosmetics from companies based in other European and American countries. By the late 1930s, Lundbeck had begun to produce its own medicinal products and had established its own research department. Production continued during the Second World War, although it was limited due to a lack of raw materials.
After the war, Lundbeck continued to grow and in 1957 the company introduced Truxal (chlorprothixene) for the treatment of schizophrenia, entering the market for brain disorders. In 1954, the Lundbeck Foundation was established to maintain and expand the activities of Lundbeck Group and also to provide funding for scientific research of the highest quality. From the late 1970s, and up through the 1980s, Lundbeck diverted its old agency business and thus became a dedicated pharmaceutical company focusing on the production of drugs used to treat disorders and diseases of the central nervous system. In 1989, Lundbeck launched the antidepressant Celexa (citalopram), which became the cornerstone for the company's international expansion and in 2009, Lundbeck, bought Ovation and established a commercial platform in the USA.[2]
In 2012, to focus on newer, strategic CNS-products, Lundbeck sold a portfolio of non-core products to Recordati S.p.A. (Recordati Rare Diseases).[5] In 2014 Lundbeck acquired Chelsea Therapeutics for up to $658 million.[6]
In March 2018, the company acquired Prexton Therapeutics for up to €905 million ($1.1 billion).[7]
In June 2018, the former Millennium Pharmaceuticals CEO, Deborah Dunsire, was named the new CEO of Lundbeck.[8]
In September 2019, Lundbeck announced it would acquire Alder BioPharmaceuticals $18 per share, valuing Alder at almost $2 billion.[9]
In June 2023, Charl van Zyl, head of neurology solutions at UCB, has announced as the next CEO and President to succeed Dunsire.[10]
In October 2024, Lundbeck agreed to acquire American epilepsy drug maker Longboard Pharmaceuticals for $2.6 billion.[11]
In November 2025, Lundbeck lost in a bidding war with Alkermes plc over the acquisition of Irish sleep disorder drugmaker Avadel Pharmaceuticals.[12]
