Back in 1954, Grete Lundbeck, the widow of Lundbeck’s founder Hans Lundbeck, established the Lundbeck Foundation by donating a large amount of her shares and willing the rest to the Foundation. A visionary move, the goal was to ensure a clear purpose and governance for the future of the company.
Today the Lundbeck Foundation owns 70% of Lundbeck and the two organizations remain completely independent. Lundbeck is an individual entity, listed on the Copenhagen stock exchange, with its own governance structure and its own executive management and board of directors. Yet the two organizations share a vision to drive progress in neuroscience and to create value that ripples through our local and global communities.
“We are an industrial foundation, which means we are a combination of a business and a charity. We do not have owners, and income from our commercial activities – usually dividends from the companies we own – is channelled back into society through donations for various purposes.” Lene Skole, CEO, the Lundbeck Foundation
The combination of being majority-owned by a foundation and at the same time being listed on the stock exchange means a lot to Lundbeck. In times of prosperity, the foundation gives us flexibility. In times of recession, the foundation gives us stability. On the other hand, the public listing keeps us on our toes. This unique model brings us confidence as an organization and brings multi-fold value for researchers, the patients we serve and the societies in which we are embedded.
Each year, the Lundbeck Foundation awards 10 million DKK (approx. 1,3 million €) to one or more brain researchers who have had a ground-breaking impact on brain research. The Brain Prize is awarded to one or more scientists, who have distinguished themselves by an outstanding contribution to neuroscience and who are still active in research. The Brain Prize recognizes highly original and influential advances in any area of brain research, defined as research on any aspects of the brain and the nervous system in health and disease.
Lundbeck is publicly listed with the Lundbeck Foundation as its main shareholder.
A long, proud story has led Lundbeck to where it is today.
A decision-making body made up of a two-tier management structure.