H. Lundbeck A/S (Lundbeck) today announced plans to restructure its commercial organisation in Europe. The aim is partly to establish a more flexible commercial infrastructure with respect to detailing to general practitioners ahead of multiple future product launches and partly to maintain cost control. The plan is to uphold Lundbeck's position as a leading CNS specialist and secure successful launches of new products. The proposed restructuring is intended to pave the way for a successful transition of Lundbeck's European product portfolio with several potential product launches in the coming years. Furthermore, the initiative aims to mitigate increased pressure from healthcare reforms, generic competition and uncertainty regarding pricing and reimbursement in Europe.
"The market environment in Europe is changing rapidly at a time when Lundbeck has numerous new products to launch. To ensure a successful transition of our product portfolio in Europe we need a more flexible commercial infrastructure and to maintain cost control," says Ulf Wiinberg, President and CEO of Lundbeck.
Lundbeck continues to invest in growth markets
This project is expected to involve the reduction of around 600 positions in our subsidiaries primarily in Europe. Lundbeck will continue with the current plans for investments in markets of growth comprising the US and International Markets.
Lundbeck cares for employees who may be laid off. We will do our utmost to manage the process in a respectful way and will now initiate a consultation process regarding the anticipated staff reductions with the works councils in the most affected markets.
Lundbeck has informed the company's European Works Council about the restructuring plans.
About Lundbeck
H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY) is an international pharmaceutical company highly committed to improving the quality of life for people suffering from brain disorders. For this purpose, Lundbeck is engaged in the research, development, production, marketing and sale of pharmaceuticals across the world. The company's products are targeted at disorders such as depression and anxiety, psychotic disorders, epilepsy and Huntington's, Alzheimer's and Parkinson's diseases.
Lundbeck was founded in 1915 by Hans Lundbeck in Copenhagen, Denmark. Today Lundbeck employs approximately 6,000 people worldwide. Lundbeck is one of the world's leading pharmaceutical companies working with brain disorders. In 2011, the company's revenue was DKK 16.0 billion (approximately EUR 2.1 billion or USD 3.0 billion).