Lundbeck Q3 2019 Financial Results

Alder represents a compelling opportunity to deliver long term sustainable growth Alder-related items impacting the 2019 guidance Transaction costs: Approximately DKK 200 million Integration and retention costs: DKK 400-500 million* Lundbeck's share of Alder's net burn: DKK 325-400 million Core EBIT only impacted by Alder's operational costs Lundbeck⭑ * * * Launch of eptinezumab will strengthen Lundbeck's growth profile for years to come Short term earnings dilution from investments in LCM and launch activities ★ U.S. sales force of around 100 people being established ★ Several LCM activities being evaluated Patent protection until mid- 2030's Lundbeck's balance sheet remains solid post transaction 40 Landbec⭑

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