Lundbeck announces changes to Executive Management

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Valby, Denmark, November 29, 2021 - H. Lundbeck A/S (Lundbeck) announces that Jacob Tolstrup, Executive Vice President for Commercial Operations, is promoted to Chief Commercial Officer, effective 1 January 2022. Jacob will be responsible for sales and marketing across all Lundbeck affiliates worldwide.

Peter Anastasiou, Executive Vice President for North America, has decided to leave Lundbeck at the end of the year for another career opportunity that will be announced in the near future.

“I am pleased that we have internal talent to step up to the Chief Commercial Officer role. We will immediately benefit from Jacob’s in-depth knowledge of Lundbeck and extensive experience in global markets. Consolidating all our affiliates into one organization will enable us to seamlessly coordinate across our markets as we forge ahead with executing our strategy. I would like to take this opportunity to thank Peter for his many years of service to Lundbeck and to our patients. He has been an asset to our leadership team, instrumental in growing North America and he departs us with our North America business in a position of strength. I wish him every success in his future endeavors,” said Deborah Dunsire, CEO of Lundbeck.

Jacob Tolstrup has been with Lundbeck for over 20 years and has held a variety of roles and management positions across the company. He has been a member of the Executive Management team at Lundbeck since 2012. During his career, Jacob spent 4 years in the United States including a period as Head of Finance between 2010-2012. Since 2017, Jacob has been Executive Vice President, Head of Commercial Operations, which includes Global Strategic Marketing and all markets outside of North America (Europe and International Markets).

Jacob holds a Master of Science in Business Administration and Commercial Law as well as an MBA. He also serves as Chairman of the Board of Directors of Pharmacosmos A/S.

As of January 2022, the Executive Board will consist of:

•                            Deborah Dunsire, President and CEO

•                            Anders Götzsche, Executive Vice President, Chief Financial Officer

•                            Johan Luthman, Executive Vice President. Head of R&D

•                            Jacob Tolstrup, Executive Vice President, Chief Commercial Officer

•                            Lars Bang, Executive Vice President, Product Development & Supply

•                            Keld Flintholm Jørgensen, Executive Vice President, Strategy & Business Development

•                            Elise Hauge, Executive Vice President, People & Communication 


Lundbeck contacts

Investors:                                     Media:
Palle Holm Olesen Thomas Mikkel Mortensen
Vice President, Investor Relations Media Relations Lead, Corp. Communication
+45 30 83 24 26 +45 30 83 30 24

About H. Lundbeck A/S
Lundbeck is a global pharmaceutical company specialized in brain diseases. For more than 70 years, we have been at the forefront of neuroscience research. We are tirelessly dedicated to restoring brain health, so every person can be their best. We are committed to fighting stigma and discrimination against people living with brain diseases and advocating for broader social acceptance of people with brain health conditions. Our research programs tackle some of the most complex challenges in neuroscience, and our pipeline is focused on bringing forward transformative treatments for brain diseases for which there are few, if any therapeutic options.

For additional information, we encourage you to visit our corporate site and connect with us on Instagram (h_lundbeck), Twitter at @Lundbeck and via LinkedIn. 

Safe Harbor/Forward-Looking Statements
This corporate release contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions, product approvals and financial performance. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe", "anticipate", "expect", "estimate", "intend", "plan", "project", "will be", "will continue", "will result", "could", "may", "might", or any variations of such words or other words with similar meanings. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding our financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to our products), are forward looking statements.

Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Factors that may affect future results include, among others, interest rate and currency exchange rate fluctuations, delay or failure of development projects, production or distribution problems, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Lundbeck's products, introduction of competing products, Lundbeck's ability to successfully market both new and existing products, exposure to product liability and other lawsuits, changes in reimbursement rules and governmental laws and related interpretation thereof, and unexpected growth in costs and expenses.

The forward-looking statements in this document and oral presentations made on behalf of Lundbeck speak only as at the date of this presentation. Lundbeck does not undertake any obligation to update or revise forward-looking statements in this presentation or oral presentations made on behalf of Lundbeck, nor to confirm such statements to reflect subsequent events or circumstances after the date of the presentation or in relation to actual results, unless otherwise required by applicable law or applicable stock exchange regulations.

H. Lundbeck A/S

Ottiliavej 9, 2500 Valby, Denmark

+45 3630 1311


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