Revenue and earnings Exclusive of non-recurring items: § Revenue: DKK 10,565 million (+17%) § Profit from operations (EBIT): DKK 2,657 million (+63%) § EBIT margin: 25.1% Including non-recurring items: § Revenue: DKK 10,985 million (+19%) § Profit from operations (EBIT): DKK 2,695 million (+51%) § EBIT margin: 24.5% Revenue by regions and products § Europe: DKK 5,501 million (+7%) § International Markets: DKK 2,194 million (+22%) § USA: DKK 2,599 million (+35%) § Cipralex®: DKK 4,094 million (+17%) § Lexapro®: DKK 2,594 million (+35%) § Ebixa®: DKK 1,655 million (+22%) § Azilect®: DKK 168 million (+136%) Comments on the financial statements Claus Bræstrup, Lundbeck's President and CEO, comments on the annual report:"The financial performance for 2007 is very satisfactory and is Lundbeck's best ever financial results. Lundbeck recorded growth in all areas - for new marketed pharmaceuticals and in all regions. This satisfactory performance provides a strong foundation for continuing the development of our broad research and development pipeline of pharmaceutical candidates." Non-recurring items Non-recurring items include two payments from Takeda Pharmaceutical Company Limited totalling DKK 420 million, and a DKK 381 million impairment writedown of the Group's manufacturing unit in Seal Sands, UK. Overall, non-recurring items had a DKK 39 million favourable impact on consolidated profit from operations. The development of an optimised production process for one of Lundbeck's pharmaceuticals has enabled the Group to consolidate its in-house production of active pharmaceutical ingredients at two factories instead of three. As a result, Lundbeck is considering whether the Seal Sands manufacturing unit will continue to be a part of the Group's production of pharmaceuticals in the long run. Lundbeck is investigating the opportunities for divesting the facility in an attempt to keep production at the Seal Sands site. If these attempts are not successful, a closedown of the facility may become a reality during 2008. Dividends The Supervisory Board proposes to pay dividend for 2007 of 30% of the net profit for the year to shareholders of the parent company, corresponding to DKK 2.56 per share. Financial forecast for 2008 2007 actual 2008 DKKm* Forecast 10,565 Revenue DKK 11 - 11.5bn 2,657 Profit from operations DKK 2.8 - 2.9bn 739 Investments Approx. DKK 500m * Exclusive of non-recurring items The financial forecast for 2008 sustains the EBIT margin at approximately 25%, while Lundbeck in 2008 expects to spend more than 20% of its revenue on research and development. Changes to the Supervisory Board Employee representative William Watson will be replaced by Jørn Mayntzhusen as a new board member. Jørn Mayntzhusen is also elected by the employees. New members appointed to Lundbeck's Executive Management Lundbeck's Executive Management will be expanded to include Anders Gersel Pedersen and Peter Høngaard Andersen. The Executive Management will subsequently consist of the following members: § Claus Bræstrup, President and CEO § Lars Bang, Executive Vice President, Supply Operations & Engineering § Anders Gersel Pedersen, Executive Vice President, Development § Anders Götzsche, Executive Vice President, Corporate Finance & IT § Peter Høngaard Andersen, Executive Vice President, Research § Stig Løkke Pedersen, Executive Vice President, Commercial Operations Lundbeck's pipeline of pharmaceuticals in clinical development During Q4 2007, Lundbeck further consolidated its pipeline of pharmaceuticals in clinical development. The compound Lu AA21004 showed highly significant results in the treatment of depression in Phase II clinical trials in October 2007, and the compound advanced into Phase III clinical trials in December. Lu AA24530 for the treatment of mood and anxiety disorders entered into clinical Phase II in October, and in October and November respectively Lundbeck initiated the first clinical trials of the compounds Lu AA24493 for the treatment of diseases with neuronal damage and Lu AA47070 for the treatment of neurological diseases, including Parkinson's disease. Finally, the portfolio was strengthened further in December, when Lundbeck signed an extended agreement with PAION AG concerning the compound desmoteplase in clinical phase III for the treatment of stroke, to which Lundbeck now holds global rights. At the beginning of 2008, Lundbeck launched Phase I clinical studies with Lu AA37096 for the treatment of mood disorders, and at the same time discontinued the further development of Lu AA44608. In February 2008, Lundbeck announced that the compound Lu AA34893 had moved into clinical Phase II. Lundbeck's pipeline of pharmaceuticals in clinical development as per 4 March 2008 Indication Mechanism of action Phase Registration Expected Compound application launch Schizophrenia Dopamine/serotonin 2008 2009 Serdolect® - USA Schizophrenia Dopamine/serotonin III 2010+ Bifeprunox Stroke Plasminogen activator III 2010+ Desmoteplase Alcohol dependence Specific opioid III 2010+ Nalmefene receptor antagonist Depression Serotonin modulator & III 2010 2010+ Lu AA21004 stimulator Psychosis Monoaminergic II 2010+ Lu 31-130 Depression Multiple target II 2010+ Lu AA24530 Depression Multiple target II 2010+ Lu AA34893 Psychosis/bipolar Ion channel modulator I 2010+ disorder Lu AA39959 Stroke/neuronal Tissue protecting I 2010+ damage cytokine Lu AA24493 Neurological Adenosine receptor I 2010+ diseases Lu AA47070 antagonist Mood disorders Multiple target I 2010+ Lu AA37096 Financial highlights 2007 Including non-recurring Exclusive of items non-recurring items DKKm 2007 Growth* Q4 2007 Growth* Q4 2007 2007 Revenue 10,985 19% 2,830 10,565 17% 2,628 - Cipralex® 4,094 17% 1,031 4,094 17% 1,031 - Lexapro® 2,594 35% 626 2,594 35% 626 - Ebixa® 1,655 22% 422 1,655 22% 422 - Azilect® 168 136% 48 168 136% 48 - Serdolect® 34 250% 8 34 250% 8 - Other 1,750 -11% 409 1,750 -11% 409 pharmaceuticals - Other revenue 690 84% 286 271 23% 84 Costs 8,290 11% 2,563 7,909 6% 2,182 - Cost of sales 2,198 34% 846 1,817 10% 465 - Distribution and 3,923 2% 1,053 3,923 2% 1,053 administration - Research and 2,187 12% 681 2,187 12% 681 development - Other operating (18) - (16) (18) - (16) expenses, net Profit from operations 2,695 51% 267 2,657 63% 446 EBIT margin 24.5% 27% 9% 25.1% 39% 17% Net financials (50) - Net profit for the 1,770 60% year Cash flows from operating and 1,610 -1% investing activities Earnings per share 8.63 65% (EPS) (DKK) Proposed dividend per 2.56 63% share (DKK) *) Growth relative to 2006 Further information An electronic version of the annual report for 2007 and further information about Lundbeck is available from the company's website www.lundbeck.com. The print version of the annual report for 2007 will be available on 28 March 2008. Lundbeck contacts Investors: Media: Jacob Tolstrup Anders Schroll Director Head of Communication +45 36 43 30 79 +45 36 43 20 81 Palle Holm Olesen Head of Investor Relations +45 36 43 24 26 Stock Exchange Release No 326 - 4 March 2008 About Lundbeck H. Lundbeck A/S is an international pharmaceutical company engaged in the research and development, production, marketing and sale of drugs for the treatment of psychiatric and neurological disorders. In 2007, the company's revenue was DKK 11 billion (approximately EUR 1.5 billion or USD 2.0 billion). The number of employees is approximately 5,300 globally. For further information, please visit www.lundbeck.com