Perspective August 2001



	Strong presence at the ADA Novo Nordisk participated with its biggest ever exhibition booth.

	Financial highlights

	Performance in the first half of 2001 Sales in the first half of 2001 increased by 17%, where sales growth was realised within all key therapeutic areas.

	Factories for the future Novo Nordisk is building a new facility for the production of insulin crystals and a new factory for the production of NovoSeven®.

	When two make one It is the ambition at Novo Nordisk to deliver one new device each year. The latest invention is called InDuo™.

	Newsbits - Image Prize to Novo Nordisk - Novo Nordisk towards the top - Innovative InnoLet® - Engineers prefer Novo Nordisk - Internet drug promotion

Financial highlights
First half ended 30 June 2001 (unaudited)
(Amounts in DKK million, except per share/ADS and number of employees)

	First half		Change %	Financial years
	2001	2000		2000	1999	1998	1997
Net turnover	11,351	9,669	17%	20,811	16,423	13,647	12,585
Operating profit	2,740	2,271	21%	4,816	3,527	2,933	2,440
Net financials	241	6	-	24	(178)	243	385
Profit before tax	2,981	2,277	31%	4,840	3,349	3,176	2,825
Tax	(1,073)	(857)	25%	1,753	1,348	1,160	1,053
Net profit	1,908	1,420	34%	3,087	2,001	2,016	1,772
Total sharehol- ders’ funds	17,753	15,296	16%	15,738	15,185	15,287	15,835
Total assets	27,347	23,382	17%	24,593	23,082	22,158	22,474
Earnings per share/ADS*)	5.52	4.04	37%	8.84	5.60	5.43	4.76
Diluted earnings per share/ADS*)	5.48	5.48	36%	8.82	5.59	5.43	4.76
Average number of shares outstanding (million) - EPS	345.7	351.1	(2)%	349.0	357.5	371.0	372.0
Average number of shares outstanding (million) - diluted EPS	348.1	351.8	(1)%	350.2	357.9	371.0	372.0
Employees at the end of the period	15,410	13,017	18%	13,752	11,994	11,649	11,049
*) In accordance with the company's accounting principles, earnings per share/ADS of a nominal value of DKK 2 for first half 2001 have been calculated based on an average number of shares of 345,661,584. Diluted earnings per share/ADS include options on Novo Nordisk's own shares with an exercise price below current market value.

This half-year statement is automatically forwarded to registered shareholders and is available to the public upon request to the registered office of the company in Denmark. For further financial information please contact:
Outside North America: Peter Haahr Novo Nordisk A/S Novo Allé, 2880 Bagsværd, Denmark Phone: +45 4442 1207 Fax +45 4444 2314 E-mail: pehr@novonordisk.com	In North America: Rasmus Jorgensen Novo Nordisk of North America, Inc 405 Lexington Avenue, Suite 6400, New York, NY 10017, USA Phone: +1 212 867 0123 Fax: +1 212 867 0298 E-mail: rrhj@novonordisk.com.
Palle Holm Olesen Novo Nordisk A/S Novo Allé, 2880 Bagsværd, Denmark Phone: +45 4442 6175 Fax: +45 4444 2314 E-mail: phoo@novonordisk.com