Lundbeck Q3 2019 Financial Results

First Target: Endocannabinoid modulation through MGLL inhibition - A compelling therapeutic target for a wide range of CNS diseases * * Monoacylglycerol lipase inhibitors (MGLLI) regulate endocannabinoid tone, which regulates neurotransmitter balance MGLLI selectively activate CB1 by elevating 2-AG levels only in active circuits - contrast with global, maximal, and sustained activation by exocannabinoids Lead molecule Lu AG06466 is a potent, selective first-in-class MGLLI in clinical development in two indications Two additional endocannabinoid modulators advancing to the clinic through 2020 MGLL inhibition Increased 2-AG regulates neuronal excitability and inflammatory processes Restore Homeostatic Balance Stress response Anxiety Reward processing Pain processing Motor function PTSD Multiple future potential indications in psychiatry and neurology Potential to use biomarkers to enrich patient populations MDD BPD Increased stress sensitivity 30 TS Lundbeck GAD

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