Novo Nordisk increased net profit by 32% in 2007 Underlying operating profit increased by close to 25% primarily driven by a 13% sales growth in local currencies

BAGSVAER, Denmark | January 31, 2008 | Sales in local currencies increased by 13% in 2007 and by 8% in Danish kroner.

- Sales of modern insulins increased by 35% (29% in Danish kroner).
- Sales of NovoSeven® increased by 10% (4% in Danish kroner).
- Sales of Norditropin® increased by 11% (6% in Danish kroner).
- Sales in North America increased by 22% (12% in Danish kroner).
- Sales in International Operations increased by 18% (12% in Danish kroner).

-- Gross margin increased to 76.6% in 2007, up from 75.3% in 2006, primarily reflecting continued productivity improvements.

-- Reported operating profit of DKK 8,942 million (2% lower than in 2006) was impacted by the non-recurring costs of DKK 1.3 billion related to the discontinuation of the inhaled insulin project AERx®. Adjusted for these non-recurring costs and the impact from currencies, underlying operating profit increased by close to 25%.

-- Net profit increased by 32% to DKK 8,522 million. Adjusted for both the non-recurring income from the divestment of Dako's business activities and the non-recurring costs related to the discontinuation of AERx®, net profit increased by 25%. Earnings per share (diluted) increased by 34% to DKK 13.39.

-- At the Annual General Meeting on 12 March 2008, the Board of Directors will propose a 29% increase in dividend to DKK 4.50 per share of DKK 1. The ongoing share repurchase programme has been increased to DKK 16.5 billion and is now expected to be finalised before the end of 2009.

-- For 2008, reported operating profit is expected to grow by at least 25%. Adjusted for currency impact and the non-recurring costs related to the discontinuation of AERx®, the expectation for underlying operating profit growth is at least 20%.

Lars Rebien Sørensen, president and CEO, said: "We are very pleased with the 2007 results. They are driven by robust sales growth in all major markets of our portfolio of modern insulins and strong gross margin improvement. This makes us confident that we will also be able to deliver solid underlying growth in 2008."

SOURCE: Novo Nordisk

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