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The acquisition campaign required finances in place first

Seeing a need to grow with acquisitions, Danish pharmaceuticals company H. Lundbeck also needed a solid funding strategy. On stage at the Treasury 360° Copenhagen conference, senior treasury director Markus Kede shared how Denmark’s largest pharma merger was enabled financially.

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[This is an update, now with the video, of the original news post from the conference day, 20 October.]


It was a year ago, in September 2019, that H. Lundbeck announced its agreement to buy its industry colleague Alder in a deal valued at “up to” $2 billion. Both have a name in the area of brain diseases.

The setup included plans for bond issuance, a path that was eventually troubled by the covid-19 challenge.

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“For setting the funding journey we had a bit of discussion with different consultancy firms but we decided to do this on our own,” says Markus Kede.

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