Lundbeck's move into the U.S.

H. Lundbeck A/S's acquisition of Synaptic Pharmaceutical Corp. was driven by the specialty pharma company's need to continue growing its early stage CNS R&D capabilities. The acquisition also provides a U.S. foothold for the CNS-focused company, which until now has not had a U.S. base of operations.

"We have been growing R&D at an aggregate rate of about 30% for about five years," said Claus Braestrup, executive vice president for R&D at Lundbeck (CSE:LUN, Copenhagen, Denmark). Indeed, the company's average annual R&D outlay has grown at 36% over the last five years. However, in 2001, R&D spending grew by only 9% (see "Lundbeck's Growth"). ...