UPDATE 2-Lundbeck appoints Wyeth executive as CEO

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By Gelu Sulugiuc

COPENHAGEN, April 29 (Reuters) - Danish drugmaker Lundbeck (LUN.CO: Quote, Profile, Research, Stock Buzz) on Tuesday appointed Ulf Wiinberg as its new Chief Executive Officer and tasked him with finding a replacement for the company's blockbuster antidepressant Cipralex.

Patents for Cipralex, which is sold in the United States as Lexapro and had revenues of 6.7 billion Danish crowns ($1.40 billion) last year, expire between 2012 and 2014 in major markets.

Wiinberg, a Dane born and raised in Sweden, comes from Wyeth (WYE.N: Quote, Profile, Research, Stock Buzz), where he was president of the company's operations in Europe, Middle East, Africa and Canada, as well as responsible for its biopharma activities. He starts in his new position on June 1.

"We do have short term issues in terms of products that we need to get to the market," Lundbeck Chairman Per Wold-Olsen told journalists. "With Ulf's background and experience we believe that he will be a tremendous asset to this organization."

Wiinberg has experienced licensing new drugs at Wyath as well as patents' expiration on well-performing products. Wyath's own antidepressant Effexor loses U.S. patent protection in 2010, but the company was able this year to launch a derivative treatment, Pristiq.

He declined to say what drugs Lundbeck should try to license, saying he had not yet had a chance to thoroughly study the issue.

"If you come with a novel antidepressant that has a unique mode of action or an Alzheimer's drug that is effective and makes a big difference I see no reason why that could not be as big or bigger than Effexor," Wiinberg said. "For me it's a chance to join a company that has an aspiration to be the best CNS company in the world and that will live or die by its success in developing CNS product."