Novo Nordisk (NVO) Announces Financial Statement For First Nine Months Of 2004; Operating Profit Grew By 10%

BAGSVAERD, Denmark, Oct. 27 /PRNewswire-FirstCall/ -- Novo Nordisk A/S today announced its financial statement for the first nine months of 2004.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020404/NVOLOGO ) -- Sales increased by 15% measured in local currencies in the first nine months of 2004. Measured in Danish kroner sales increased by 11%. Sales in the third quarter were positively impacted by increases in US wholesaler inventories. -- Sales of insulin analogs increased by 87% measured in local currencies. -- NovoSeven(R) sales increased by 15% measured in local currencies. -- Operating profit increased by 10% to USD 856* million, and net profit increased by 4% to USD 595 million. Earnings per share (diluted) increased by 5% to USD 1.75. -- Operating profit for the full year 2004 is still expected to grow by slightly more than 5% despite a continued challenging currency environment. -- Following regulatory consultations in Europe, Novo Nordisk expects to file an application for marketing approval in Europe for the use of NovoSeven(R) in connection with intracerebral hemorrhages (ICH) by mid-2005. -- Lars Rebien Sorensen, president & CEO, said: "The strong underlying performance continued in the third quarter, primarily driven by increased sales of insulin analogs and NovoSeven(R). We are furthermore very encouraged by the possibility of filing in Europe already next year for the use of NovoSeven(R) in ICH, a condition for which there today is no effective therapy."

* For convenience, Danish kroner has been translated to USD in this release, using the average exchange rate of USD 1.00 = DKK 6.0749

The complete Novo Nordisk earnings announcement can be found at http://www.novonordisk.com/.

Novo Nordisk is a healthcare company and a world leader in diabetes care. The company has the broadest diabetes product portfolio in the industry, including the most advanced products within the area of insulin delivery systems. In addition, Novo Nordisk has a leading position within areas such as hemostasis management, growth hormone therapy, and hormone therapy for women. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs approximately 20,000 full-time employees in 69 countries, and markets its products in 179 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol "NVO." For global information, visit http://www.novonordisk.com/; for United States information, visit http://www.novonordisk-us.com/.

CONTACT: Media: Susan Jackson, +1-609-919-7776, or Investors: ChristianKanstrup, +1-609-919-7937, both of Novo Nordisk

Web site: http://www.novonordisk.com/http://www.novonordisk-us.com/