Lundbeck chief announces early departure

It is reported that Claus Braestrup has decided to step down immediately from his position as president and chief executive officer of Lundbeck

The international pharmaceutical group, which released its “best ever” financial results earlier this week, has announced that the current chairman of the supervisory board, Per Wold-Olsen, will act as executive chairman until a replacement has been found.

Although Mr Braestrup had been expected to end his tenure with the company following a ten year stay, Mr Wold-Olsen admitted that it was a “regrettable” surprise that he had chosen to do so sooner rather than later.

“On behalf of the supervisory board, I would like to thank Claus Bræstrup for his efforts at Lundbeck,” he said.

He added that Lundbeck was “well underway” in looking for a replacement and added that he expected an announcement would be made “within the next couple of months.”

Lundbeck recorded 17 per cent year-on-year revenue increases for 2007 earlier this week across its research-based business which includes treatments for depression, schizophrenia, Alzheimer’s and Parkinson’s disease.