Novo Nordisk A/S
Financial statement for 2010

Novo Nordisk A/S 

02.02.2011 08:29
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Copenahgen, Denmark, 2011-02-02 08:29 CET (GLOBE NEWSWIRE) -- Company
Announcement 

Financial statement for 2010

2 February 2011                                          Novo Nordisk increased
operating profit by 27% in 2010 

Organic sales growth of 19% driven by Victoza(R), NovoRapid(R) and Levemir(R)



  -- Sales increased by 19% in Danish kroner and by 13% in local currencies.
  -- Sales of modern insulins increased by 24% (18% in local currencies).
  -- Sales of NovoSeven(R) increased by 14% (8% in local currencies).
  -- Sales of Victoza(R) reached DKK 2,317 million in 2010.
  -- Sales in North America increased by 29% (22% in local currencies).
  -- Sales in International Operations increased by 24% (15% in local
     currencies).



  -- Gross margin improved by 1.2 percentage points in Danish kroner to 80.8% in
     2010, reflecting a favourable product mix development and a positive
     currency impact.



  -- Reported operating profit increased by 27% to DKK 18,891 million. Measured
     in local currencies, operating profit increased by approximately 16%.



  -- Net profit increased by 34% to DKK 14,403 million. Earnings per share
     (diluted) increased by 38% to DKK 24.60.



  -- The phase 3a programme for Degludec and DegludecPlus has now been
     completed. In the largest trial, the one-year trial comparing Degludec and
     insulin glargine when added to oral anti-diabetic therapy in type 2
     diabetes, Degludec met the primary endpoint of non-inferior glucose control
     while reducing nocturnal hypoglycaemia by more than 35% compared to insulin
     glargine.



  -- For 2011, sales growth measured in local currencies is expected to be
     8-10%, and operating profit growth measured in local currencies is expected
     to be around 15%.



  -- In 2010, Novo Nordisk reached the four long-term financial targets
     announced in the annual report for 2008. Consequently, three of the four
     targets have been increased while the core target of 15% annual operating
     profit growth has been maintained.



  -- At the Annual General Meeting on 23 March 2011, the Board of Directors will
     propose a 33% increase in dividend to DKK 10 per share. The Board of
     Directors has furthermore decided to initiate a new share repurchase
     programme of DKK 10 billion in 2011.



Lars Rebien Sørensen, president and CEO: '2010 was a very good year for Novo
Nordisk with strong organic sales growth driven by the modern insulins and
Victoza(R). We expect continued sales growth from these products and are
encouraged by the results from the phase 3 programme with our new generation
insulins.' 


         Contacts for further information
         
         Media:	Investors:
         
         Mike Rulis	Klaus Bülow Davidsen
         Tel: (+45) 4442 3573	Tel: (+45) 4442 3176
         mike@novonordisk.com
         klda@novonordisk.com
         
         
         Kasper Roseeuw Poulsen
         Tel: (+45) 4442 4471
         krop@novonordisk.com
         
         
         Jannick Lindegaard
         Tel: (+45) 4442 4765
         jlis@novonordisk.com
         
         
         In North America:	In North America
         Ken Inchausti	Hans Rommer
         Tel: (+1) 609 786 8316	Tel: (+1) 609 919 7937
         kiau@novonordisk.com
         hrmm@novonordisk.com
         
         
         
         Further information about Novo Nordisk is available on the company's
website novonordisk.com
News Source: NASDAQ OMX



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Language:     English
Company:      Novo Nordisk A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0060102614
WKN:          
 
End of Announcement                             DGAP News-Service
 
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