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Lundbeck in conditional agreement and divests part of its headquarters


H. Lundbeck has signed a conditional agreement regarding the sale of properties (approximately 33,000 m2) on the Valby site in Copenhagen to the Danish pension funds Juristernes og Økonomernes Pensionskasse (JØP) and Danske civil- og akademiingeniørers Pensionskasse (DIP).

Provided that the pre-specified conditions are met, Lundbeck will receive a cash payment of DKK 378 million in December 2017. The payment will be recognized as other operating income in the second half of 2017.

Lundbeck anticipates that the transaction will become final and unconditional in the second half of 2017 with a potential positive effect on the P&L and financial guidance of around DKK 200 million everything else being equal. If the required conditions are not fulfilled, the transaction will not be completed and Lundbeck will not receive any payment.