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Oct 31, 2013

Novo Nordisk Increased operating profit by 10% in the first nine months of 2013

Sales growth of 8% driven by Victoza®, Levemir® og NovoRapid®

Sales increased by 13% in local currencies and by 8% in Danish kroner to DKK 61.9 billion.
  • Sales of modern insulins increased by 15% (10% in Danish kroner).
  • Sales of Victoza® increased by 28% (24% in Danish kroner).
  • Sales in North America increased by 20% (17% in Danish kroner).
  • Sales in International Operations increased by 15% (8% in Danish kroner).

Gross margin improved by 0.7 percentage points in Danish kroner to 82.6%, reflecting a favourable price and product mix development.

Operating profit increased by 17% in local currencies and by 10% in Danish kroner to DKK 24.1 billion.

Net profit increased by 22% to DKK 19.1 billion. Diluted earnings per share increased by 25% to DKK 35.39.

The roll-out of Tresiba® (insulin degludec), the once-daily new-generation insulin with an ultra-long duration of action, continues to progress. Tresiba® has now also been commercially launched in Sweden and India. In October, the first patient was enrolled in DEVOTE, the cardiovascular outcomes trial for Tresiba®. Data for an interim analysis of the trial are expected to be available within two to three years.

For 2013, expectations to operating performance in local currencies are unchanged. Sales growth measured in local currencies is expected to be 11-13% and operating profit growth measured in local currencies is expected to be 12-15%.

The preliminary outlook for 2014 indicates high single-digit growth in sales and operating profit, both measured in local currencies.

Lars Rebien Sørensen, president and CEO: "We are pleased with the sustained robust financial performance. Sales growth continues to be driven by our portfolio of modern insulins and Victoza®. Tresiba® performance is encouraging and with the initiation of DEVOTE we have passed a significant milestone in the process of making Tresiba® available for people with diabetes in the US."

Contacts for further information

Media:
Mike Rulis +45 4442 3573 mike@novonordisk.com
Ken Inchausti (US) +1 609 514 8316 kiau@novonordisk.com
Investors:
Kasper Roseeuw Poulsen +45 3079 4303 krop@novonordisk.com
Frank Daniel Mersebach +45 3079 0604 fdni@novonordisk.com
Lars Borup Jacobsen +45 3075 3479 lbpj@novonordisk.com
Daniel Bohsen +45 3079 6376 dabo@novonordisk.com
Jannick Lindegaard (US) +1 609 786 4575 jlis@novonordisk.com