H. Lundbeck A/S (Lundbeck) announces that the European Commission has issued a Statement of Objections to Lundbeck. The Statement of Objections is regarding agreements concluded with four generic competitors concerning citalopram. A Statement of Objections does not represent the European Commission's final decision. Any final decision by the Commission is appealable to the European Courts (General Court and then the European Court of Justice). The whole process could take several years to reach a conclusion.
It is Lundbeck's view that the Group's business practices are consistent with all relevant national and EU competition legislation.
"Lundbeck's policy is to comply with all applicable laws, including Competition Laws, and this policy is taken very seriously by the company and its employees," says Mette Carlstedt, Senior Vice President, Corporate Legal at Lundbeck.
Lundbeck will now carefully review the Statement of Objections and the European Commission's preliminary findings, and will then submit a reply to the Statement of Objections in order to address the concerns that have been raised. Lundbeck is cooperating fully in the Commission's investigation.
At this time, Lundbeck has nothing further to add; except that it is confident the allegations made by the Commission should be rejected as groundless.
In 2008, the European Commission initiated a wide-ranging sector inquiry of the pharmaceutical industry to review possible anti-competitive conduct. In 2010, the European Commission opened a formal investigation against Lundbeck to investigate possible infringement of European competition law relating to restrictive business practices and abuse of a dominant market position. Specifically, the Commission has investigated whether Lundbeck's agreements with generic manufacturers have delayed the entry of generic citalopram into markets in the EEA.
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).