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Novo Nordisk increased sales by 18% in the first quarter of 2009
Operating profit increased by 35% supported by continued gross margin improvement

• Sales in Danish kroner increased by 18% and by 11% in local currencies.

o        Sales of modern insulins increased by 31% (25% in local currencies).

o        Sales of NovoSeven® increased by 25% (18% in local currencies).

o        Sales of Norditropin® increased by 18% (9% in local currencies).

o        Sales in North America increased by 31% (16% in local currencies).

o        Sales in International Operations increased by 20% (16% in local currencies).

• Gross margin improved by 2.6 percentage points to 79.9% in the first three months of 2009, primarily reflecting continued productivity improvements and a positive currency impact of around 1.0 percentage points.

• Reported operating profit increased by 35% to DKK 3,810 million. Adjusted for the impact from currencies and non-recurring costs in 2008 related to the discontinuation of all pulmonary delivery projects, underlying operating profit increased by around 15%.

• Net profit increased by 24% to DKK 2,699 million. Earnings per share (diluted) increased by 27% to DKK 4.41.

• In Europe, the Committee for Medicinal Products for Human Use (CHMP) under the European Medicines Agency (EMEA) adopted a positive opinion for Victoza® (liraglutide) and Novo Nordisk expects to receive the European Marketing Authorisation from the European Commission within approximately two months.

• In the US, following the Advisory Committee meeting on 2 April, Novo Nordisk is working with the United States Food and Drug Administration (FDA) as it completes the review of the liraglutide application.

• For 2009, operating profit measured in local currencies is now expected to grow by at least 10% and reported operating profit growth to be around 8 percentage points higher.

Lars Rebien Sørensen, president and CEO, said: "We are satisfied with the financial performance during the first quarter of 2009 which is driven by solid sales growth for the modern insulins and gross margin improvements. Following the positive opinion in Europe for Victoza®, we now look forward to launching Victoza® in the first European markets this summer."

Contacts for further information

Company Announcement no 25 / 2009