Year in review
Annual reporting 2025
2025 has been a truly remarkable year, marked by record-breaking results and double-digit growth. In our relentless pursuit to advance brain health, we have focused on transforming our business to secure long-term growth while improving patients’ access to our innovative treatments within neurology and psychiatry.
Lundbeck employees around the world excelled in generating the highest revenue ever recorded in our business’s history, demonstrating exceptional operational performance while advancing our pipeline in differentiated neuroscience assets, scaling our neuro-specialty position, and building a neuro-rare franchise. The excellent performance translated into an increased number of patients served.
Letter to shareholders
In 2025, Lundbeck performed impressively. We delivered sustained growth from our strategic brands, advanced the pipeline significantly, and sharpened our commercial focus, allowing us to reallocate funds for further investments in key growth areas and our innovative pipeline.
As Lundbeck continues to advance brain health, our focus on innovation, unmet patient needs, and operational excellence ensures that we remain at the forefront of neuroscience. With a clear vision and strong execution, Lundbeck is poised to deliver lasting impact and drive growth into the next decade and beyond.
Financial highlights
Record 2025 performance generated a total revenue of +13% CER and was driven by the U.S. and Europe. The performance positions Lundbeck for continued growth.
24,630
Total revenue (DKKm)
19,011
Revenue from strategic brands (DKKm)
7,881
Ajusted EBITDA (DKKm)
7,140
EBITDA (DKKm)
Sustainability highlights
In 2025, Lundbeck made good progress on our sustainability aspirations and achieved key milestones and targets.
27.8
Patients reached (million)
77%
Patient access coverage
47%
Reduction in scope 1 & 2 GHG emissions
62%
Recovery of selected organic solvents used in chemical production
Strategy update
In 2025, we continued to execute the Focused Innovator Strategy, driving the transformation of our business and fully integrating a focused innovator mindset.
In a rapidly developing field of science, we are continuously adopting new ways of working and improving efficiency to be able to shift resources to innovation. Our people delivered an outstanding execution of the transformation program, enabling us to accelerate investments aimed at long-term growth. Strategically, we focus on neuro-rare and neuro-specialty conditions, expanding from our strong legacy within psychiatry and neurology.
Our business model and value chain
Patients are an integral part of Lundbeck’s full value chain ecosystem and fundamental to our patient-centric approach. Their lived experiences and ability to identify unmet medical needs enable us to drive focused innovation across our business.
Caregiver’s perspective
Gabrielle Conecker is the mother of 13-year-old Elliott, who lives with SCN8A, a developmental and epileptic encephalopathy (DEE). From day one of Elliott’s life, with seizures and thousands of hours spent in the hospital, the family’s reality has been relentless – and so has Gabi’s drive to change it.
