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Apr 27, 2012

Novo Nordisk A/S: Operating profit increased by 18% in the first quarter of 2012

Sales growth of 13% driven by Victoza®, NovoRapid® and Levemir®

Sales increased by 13% to 17.8 billion in Danish kroner and by 10% in local currencies.

  • Sales of modern insulins increased by 17% (14% in local currencies).
  • Sales of Victoza® increased by 81% (76% in local currencies).
  • Sales in North America increased by 21% (17% in local currencies).
  • Sales in International Operations increased by 24% (24% in local currencies).

Gross margin improved by 0.7 percentage points in Danish kroner to 80.8% in the first quarter of 2012, reflecting a favourable price and product mix development.

Reported operating profit increased by 18% to DKK 6,385 million. Measured in local currencies, operating profit increased by approximately 13%.

Net profit increased by 15% to DKK 4,664 million. Earnings per share (diluted) increased by 18% to DKK 8.32.

The regulatory reviews of the new ultra-long-acting insulins Degludec and DegludecPlus continue to progress in the major markets. The intended global brand name for Degludec is Tresiba® and the intended global brand name for DegludecPlus is Ryzodeg®.

Novo Nordisk has initiated a phase 3a programme for the long-acting recombinant factor VIII compound N8-GP for the treatment of haemophilia A.

For 2012, sales growth measured in local currencies is now expected to be 8-11% (previously 7-11%), and operating profit growth measured in local currencies is now expected to be at least 10% (previously around 10%).

Lars Rebien Sørensen, president and CEO: "We are satisfied with the solid sales growth during the first quarter of 2012 - still driven by the modern insulins NovoRapid® and Levemir® as well as our once-daily human GLP-1 Victoza®. Furthermore, the regulatory reviews for Tresiba® and Ryzodeg®, our new generation of insulins, continue to progress well in the major markets."

Further information:

Media: Investors:
   
Mike Rulis Klaus Bülow Davidsen
Tel: (+45) 4442 3573 Tel: (+45) 4442 3176
mike@novonordisk.com klda@novonordisk.com
Lars Borup Jacobsen
Tel: (+45) 3075 3479
lbpj@novonordisk.com
 
  Frank Daniel Mersebach
  Tel: (+45) 4442 0604
  fdni@novonordisk.com
 
In North America: In North America
Ken Inchausti Jannick Lindegaard
Tel: (+1) 609 786 8316 Tel: (+1) 609 786 4575
kiau@novonordisk.com  jlis@novonordisk.com

Company Announcement No 28 / 2012