global diabetes care_market_cmd2011

Novo Nordisk Capital Markets Day 5 May 2011

The

global diabetes care

market

Kåre SchultzCOO

Novo Nordisk Capital Markets Day Slide no 25 May 2011

Forward-looking statementsNovo Nordisk’s reports filed with or furnished to the US Securities and Exchange Commission (SEC), including the company’s Annual Report 2010 and Form 20-F, both expected to be filed with the SEC in February 2011 as well as this document and written information released, or oral statements

made, to the public in the future by or on behalf of Novo Nordisk, may contain forward-looking statements. Words such as ‘believe’, ‘expect’, ‘may’, ‘will’, ‘plan’, ’strategy’, ’prospect’, ’foresee’, ’estimate’, ’project’, ’anticipate’, ’can’, ’intend’, ‘target’

and other words and terms of similar meaning in connection with

any discussion of future operating or financial performance identify forward-looking statements. Examples of such forward-looking statements include, but are not limited to:-

statements of plans, objectives or goals for future operations,

including those related to Novo Nordisk’s products, product research, product development, product introductions and product approvals as well as cooperations

in relation thereto, -

statements containing projections of or targets for revenues, income (or loss), earnings per share, capital expenditures, dividends, capital structure or other net financials, -

statements regarding future economic performance, future actions and outcome of contingencies such as legal proceedings, and-

statements regarding the assumptions underlying or relating to such statements.

These statements are based on current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. Novo Nordisk cautions that a number of important factors, including those described in this document, could cause actual results to differ materially from those contemplated in any forward-looking statements.

Factors that may affect future results include, but are not limited to, global as well as local political and economic conditions, including interest rate and currency exchange rate fluctuations, delay or failure of projects related

to research and/or development, unplanned loss of patents, interruptions of supplies and production, product recall, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Novo Nordisk’s products, introduction of competing products, reliance on information technology, Novo Nordisk’s ability to successfully market current and new products, exposure to product liability and legal proceedings and investigations, changes in governmental laws and

interpretation thereof, including on reimbursement, intellectual property protection and regulatory controls on testing, approval, manufacturing and marketing, perceived or actual failure to adhere to ethical marketing practices, investments in and divestitures of domestic and foreign companies, unexpected growth in costs and expenses, failure to recruit and retain the right employees and failure to maintain a culture of compliance.

Please also refer to the overview of risk factors in ‘Risk management’

of the Annual Report 2010 available as of 4 February 2011

on the company’s website (novonordisk.com).

Unless required by law Novo Nordisk is under no duty and undertakes no obligation to update or revise any forward-looking statement after the distribution of this document, whether as a result of new information, future events or otherwise.


Capital markets expect diabetes care to continue to outgrow the general pharmaceutical industry

Growth in global pr

escription sale

s versus di

abetes care sales (CAGR)

Source: EvaluatePharma, data retrieved January 21, 2011

Diabetes Care salesTotal Prescription sales

2000-2005 2005-2010 2010-2015

Insulin and GLP-1 sales

10.7%

12.3%

18.4%

6.4%

12.0%

15.9%

3.6%

7.8%9.2%


Diabetes market development

20

40

60

80

100

120

140

160

180

200

Global diabetes care market by treatment class

Global insulin market by segments

Note: *in DKK. Monthly

MAT, volume figuresSource: IMS

0

50

100

150

200

250

300

350

400

Feb

2006Feb

2011

Long acting

Premix

Fast acting

CAGR volume: 7.1%CAGR value*: 14.3%

tMU

34%

35%

31%

36%

30%

34%

Note: Monthly MAT, value figuresSource: IMS

OAD Insulin GLP-1

Feb

2006Feb

2011

DKK

billion

Total market: CAGR 11.4%

CAGR 7.8%

CAGR 14.3%

Injectables: CAGR 15.6%


Sustained double-digit insulin market growth

Global insulin market growth 2006-2011

The fundamental growth drivers of the insulin market

Volume

•

Prevalence of diabetes

•

Diagnosis rates and treatment rates

•

Intensification of insulin regimens

•

Growing BMI

•

Life-length

Value

•

Conversion to new generations of insulin

•

Device penetration

•

Price changes

Source: IMS, Monthly MAT, value figures

0

20

40

60

80

100

MAT Feb 2006 Volumecontribution

Mix/pricecontribution

MAT Feb 2011

44.4

bDKK86.7

bDKK

DKK

billion

21.6

bDKK

20.7

bDKK


Globally, diabetes has become an epidemic -

driven by lifestyle changes and demographics

Diagnosis and optimal treatment

remains a challenge –

the rule of halves

All people with diabetes

50% are diagnosed

50% have access to care

50% get decent care

100%

50%

25%

12%

50% reach target

Source: International Diabetes Foundation: Diabetes Atlas, 2000 and 2009Note: Data covers the 20-79 age-group. IO: International Operations, Japan includes Korea

Estimated number of people with diabetes –

projections appear conservative

JP, KoreaEurope

N. America0

50

100

150

200

250

300

350

400

450

2000 2010 2030

151

285

439

Million people

International Operations

China

Japan

Europe

North

America

CAGR:6.6%

CAGR:2.2%

//


The world is growing unhealthier

Prevalence of overweight and obesity in selected countries

Adapted from: Sassi, F. et al. 2009 “The Obesity Epidemic: Analysis of Past and Projected Future Trends in Selected OECD Countries”, OECD Health Working Papers, No. 45, OECD Publishing. Available

at: http://www.ecoclimax.com/2010/10/past-and-projected-future-overweight.html

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

1970 1980 1990 2000 2010 2020

Pro

port

ion o

fove

rwei

ght

and o

bes

eofpopula

tion (

%)

United

States

Canada

England

France

Italy


Life expectancy

has on

average

risen by 4 months

each

year

since

1970

Source: www.nationmaster.com, CIA world fact book

Life expectancy at birth (weighted average)

1970 2010

69 years

56 years


Life expectancy

has on

average

risen by 4 months

each

year

since

1970

Source: www.nationmaster.com, CIA world fact book

Life expectancy at birth (weighted average)

69 years

56 years

82 years?

1970 2010 2050


Implied

development

in insulin consumption

Insulin co

nsumption i

n selected

countries –

a

verage

insulin units per inhabitant

Sources: Calculation based on IMS volume figures and United Nations Population Division demography data

2000 2010

238

165

264

53

1

349

293

426

99

14

United

States Germany United

Kingdom ChinaJapan


Modern insulin is replacing human insulin –

as human insulin replaced animal insulin

0%

20%

40%

60%

80%

100%

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Share of total insulin volume

Source: IMS, annual volume figures

Modern

insulin

Human insulin

Animal

insulin


Modern insulin constitute more than 80% of the total insulin value marketShare of total insulin value

Source: IMS, monthly MAT value figures

Modern

insulin

Human insulin

Animal

insulin0%

20%

40%

60%

80%

100%

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Modern

insulin

Human insulin

Animal

insulin


Two-thirds of insulin volume is injected via a modern pen device

Source: IMS, annual volume figures

0%

20%

40%

60%

80%

100%

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Share of total insulin volume

Prefilled

device

Durable device

Vial

and syringe


Characteristics of the insulin industry

•

Chronic

disease leading to life-long patient-drug relationship•

Significant and

growing patient population•

Continuous upgrade

of insulin treatment

•

Significant usage of modern pen devices•

Strong brand loyalty and

limited switching

between therapies•

Many prescribers requiring significant commercial operations•

High volume production with significant capital investment required•

Limited abbreviated regulatory pathways

for approval of biosimilar insulin

Significant

growth

Complex

to be

competitive


Novo Nordisk device development for improved insulin treatment

1923 -

1985 1985 -

2010


Diabetes is chronic disease leading to long patient-drug relationship

Insulin treatment is ge

nerally char

acterised by strong brand loyalty and limited sw

itching betwee

n therapies

54 years Average

life

expectancy

with

type 2 diabetes

Diagnosis

of

type 2 diabetes

OAD treatment

Insulin treatment

8 years

12 years 74 years

Sources: Calvert MJ, McManus RJ, Freemantle N (2007) Management of type 2

diabetes with multiple oral hypoglycaemic agents or insulin in primary care retrospective cohort study Br J Gen Pract

57: 455-60. The British Journal of Diabetes & Vascular Disease 2008 8:92. 2005 -2008 National Health and Nutrition Examination Survey. http://www.newsobserver.com/2011/03/03/1025677/type-2-diabetes-linked-to-shorter.html#storylink=misearch. Life-

expectancy in Individuals with type 2 Diabetes, Diabetes (2007);

56: (supp1): A596


Novo Nordisk has significant operations across the world to remain competitive

China: ~2,100 FTEs

Japan & Korea: ~900 FTEs

International Operations: ~2,700 FTEs

North America: ~4,000 FTEs Europe: ~3,100 FTEs

FTEs represent full-time employee equivalents in Novo Nordisk’s sales regions (excludes a.o. employees in headquarter and manufacturing)


Insulin manufacturing process

Fermentation Recovery Purification Formulation Filling Assembly Packaging

API: insulin crystals F&F: liquid form Device & packaging


Novo Nordisk’s global manufacturing setup

Montes Claros

ClaytonChartres

Denmark

Tianjin•

Device manufacturing•

Packaging•

Filling plant project

•

Formulation & filling•

Assembly•

Packaging

•


Assembly•

Packaging•


Assembly•

Packaging

•

API production•


Assembly•

Packaging•

Device & needle manufacturing

•

Packaging

Koriyama


0%

10%

20%

30%

40%

50%

60%

70%

Novo Nordisk has sustained

a global insulin market

leadership

position…Insulin value market share

worldwideInsulin volume market share

worldwide

Source: IMS Monthly MAT, value figures

0%

10%

20%

30%

40%

50%

60%

70%

Feb

2006Feb

2011Feb

2006Feb

2011

Novo Nordisk Sanofi-Aventis Eli Lilly Others

44%

33%

22%

1%

51%

23%

22%

4%


Source: IMS Monthly MAT, volume figures


0%

10%

20%

30%

40%

50%

60%

70%

…through

focus

on

improvements

for patients…

Modern insulin global volume market share

Prefilled device global insulin volume market share


0%

10%

20%

30%

Feb

2006Feb

2011Feb

2006Feb

2011


46%

34%

19%

1%

19%

10%

3%

FlexPen® SoloStar® KwikPen®



…with

a strong

portfolio

of

modern

insulins

Strong current portfolioNovo Nordisk’s modern insulins’

global insulin volume market share

0%

10%

20%

Feb

2006Feb

2011

14%

9%

6%

NovoMix® NovoRapid® Levemir®



0%

1%

2%

3%

4%

5%

0

1

2

3

4

5

6

7

Novo Nordisk is now also expanding into earlier treatment and growing the GLP-1 class

Victoza®

is driving the expansion of the global GLP-1 market

North America constitutes the majority of the GLP-1 value market*

Source: IMS Monthly MAT, value figures (DKK)

GLP-1 sales in bDKK

(right axis)

Dia

bete

s m

ark

et

share

(valu

e)

Feb

2006Feb

2011

26%

72%

*Annual value of diabetes market MAT February 2011

Source: IMS, Monthly value data (DKK)

DKK

billion

North America

Europe

Rest of

world

Victoza®

exenatide


The

diabetes care

market

in the

US

Jurek

GruhnSVP Region North America


•

The diabetes challenge

•

Treatment of diabetes today

•

Victoza®

performance

•

Insulin market performance

•

Focus areas and priorities

Outline


2010: ~32 million

6-7% 10-11% 18-19%12-13%<6% 16-17%8-9% 14-15%

Note: Improvements in therapies and medical management over time are factored in.Sources: CDC Behavioral Risk Factor Surveillance System; Narayan, Impact of Recent Increase in Incidence on Future Diabetes Burden, Diabetes Care 2006;29:2114-2116; Boyle, Projection of the year 2050 burden of diabetes in the US adult population, http://www.pophealthmetrics.com/content/8/1/29; Institute for Alternative Futures projections

Today, diabetes affects more than 32 million Americans

Increasing prevalence of diabetes

2015: ~40 million 2025: ~53 million


Sources: CDC Behavioral Risk Factor Surveillance System; Narayan, Impact of Recent Increase in Incidence on Future Diabetes Burden, Diabetes Care 2006;29:2114-2116; CDC, 2010 National Diabetes Fact Sheet; Boyle, Projection

of the year 2050 burden of diabetes in the US adult population,

http://www.pophealthmetrics.com/content/8/1/29; Institute for Alternative Futures projections

64 bUSD

52 bUSD40 bUSD

37 bUSD27 bUSD

46 bUSD

30 bUSD

36 bUSD

2010: 299 bUSD

Total annual direct medical and indirect societal costs of diabetes (billion USD)

2015: 374 bUSD 2025: 514 bUSD

1-2.9b 5-9.9b >25b<1b 15-24.9b3-4.9b 10-14.9b

Associated costs of diabetes represent a significant and increasing economic burden for society

21 bUSD


Note: Insulin data include treatment with concomitant non-insulin productsSource: IMS LRx

Monthly Regime, 12/10 PROJECTED to

Mattson Jack, NHANES IV and Ropers 2010

Treatment of diabetes in the US today

Diet & Exercise11%

OAD -

Met/SU/TZD55%

Incretin10%

Insulin24%

Share of patients by treatment class

Basal-only40%

Basal-Bolus29%

Premix-only14%

Rapid-only14%

GLP-1 -

20%

DPP-4s 80%


In the US, the insulin market is outgrowing the overall diabetes care market


US diabetes care market by treatment class US insulin volume market by segmen

ts

Note: * in DKK. Monthly


DKK billion tMU

0

20

40

60

80

100

120OAD Insulin GLP-1

Feb

2006Feb

2011


CAGR 5.6%

CAGR 18.9%

0

20

40

60

80

100

120

Feb

2006Feb

2011

Long acting

Premix

Fast acting



Victoza®

continues to drive GLP-1 growth

Expansion of the GLP-1 market

Source: IMS, NPA Monthly data; IMS LRx

Weekly Data

Victoza®

source of patients

0

1

2

3

4

5

Naïve

Metformin

SU ±

met

Insulin

TZD ±

metDPP-IV

exenatide

Mar

2010Mar

2011

64%

Note: Naïve is defined as all patients who have not filled a prescription

in 12 months Source: IMS, NPA Monthly data; IMS LRx

4 week average Naive and Switch/Add Script Counts

Number

of

patients (thousands)

0

50

100

150

200

250

300

0%

1%

2%

3%

4%

5%

6%

Mar

2010Mar

2011

GLP-1 % of of

diabetes market value (right axis)

GLP-1 TRx

scripts (thousands)

Victoza®

exenatide


Volume growth and value upgrade drive insulin market value expansion

US insulin value market growth

0

10

20

30

40

50

60

February 2006 Volume growth Mix/pricegrowth

February 2011

DKK billion

9.0

bDKK

18.5 bDKK


19.9

bDKK47.4

bDKK

Value upgrade

Note: Monthly


0%

10%

20%

30%

40%

50%

60%

70%

80%

Penetration of total market

Feb

2006Feb

2011

Device penetration

Modern insulin penetration73%

27%


Novo Nordisk has increased overall insulin market share in the US

Note: Monthly MAT, value figures (DKK)Source: IMS

US total insulin value market share

0%

10%

20%

30%

40%

50%

60%

70%

Feb

2006

37%

37%

26%

Feb

2011

Novo Nordisk Sanofi-Aventis Eli Lilly

US total insulin volume market share

Note: Monthly MAT, volume figuresSource: IMS

0%

10%

20%

30%

40%

50%

60%

70%

Feb

2006

42%

32%

26%


Feb

2011


Novo Nordisk has increased modern insulin market share in the US

US modern insulin volume market share US modern insulin value market share

Note: Monthly MAT, value figures (DKK)Source: IMS

0%

10%

20%

30%

40%

50%

60%

70%

Feb

2006Feb

2011


37%

42%

21%

0%

10%

20%

30%

40%

50%

60%

70%

Feb

2006


37%

44%

19%

Note: Monthly MAT, volume figuresSource: IMS

Feb

2011


0%

20%

40%

60%

80%

100%

0%

20%

40%

60%

80%

100%

0%

20%

40%

60%

80%

100%

Insulin market shares and dynamics

US total insulin market shares by segment

Source: IMS, Monthly MAT volume figures

Novo Nordisk Sanofi-Aventis Eli Lilly Conversion rate to modern insulin

Insu

lin

mark

et

share

(vo

lum

e)

Short acting segment Premix segment Long acting segment

Feb

2006Feb

2011Feb

2006Feb

2011Feb

2006Feb

2011


Focus

areas

for the

US

•

Expand Victoza®

prescribing base and access

•

Continue modern insulin strategy of value creation by balancing profitability and access

•

Preparing for a successful launch of Degludec and DegludecPlus


The diabetes care market in China

Ron ChristieSVP Region China


China is evolving as the world’s #3 pharma

market

201918171615141312

11

10987654321

Netherlands PolandGreeceTurkeyAustraliaMexicoVenezuelaSouth KoreaIndia

Russia

CanadaUnited KingdomBrazilSpainItalyFranceGermanyChinaJapanUnited States

2011 Rank

201918171615141312

11

10987654321 United StatesUnited States1

VenezuelaTurkey12

RussiaRussia11

United KingdomCanada10CanadaBrazil9BrazilUnited Kingdom8SpainSpain7ItalyItaly6FranceChina5

TurkeySouth Korea15South KoreaMexico14IndiaIndia13

GermanyGermany4ChinaFrance3

AustraliaGreece17MexicoAustralia16

JapanJapan 2

BelgiumPoland20PolandNetherlands19GreeceVenezuela18

2013 Rank2009 Rank

201918171615141312

11

10987654321

Netherlands PolandGreeceTurkeyAustraliaMexicoVenezuelaSouth KoreaIndia

Russia

CanadaUnited KingdomBrazilSpainItalyFranceGermanyChinaJapanUnited States

2011 Rank

201918171615141312

11

10987654321 United StatesUnited States1

VenezuelaTurkey12

RussiaRussia11

United KingdomCanada10CanadaBrazil9BrazilUnited Kingdom8SpainSpain7ItalyItaly6FranceChina5

TurkeySouth Korea15South KoreaMexico14IndiaIndia13

GermanyGermany4ChinaFrance3

AustraliaGreece17MexicoAustralia16

JapanJapan 2

BelgiumPoland20PolandNetherlands19GreeceVenezuela18

2013 Rank2009 Rank

Source: IMS Health MIDAS, Market Prognosis October 2009. Market size ranking in constant USD


This growth has been driven by five major factors

Source: IMS RDPAC presentation March 2011

China’s pharmaceutical market is estimated to grow 20% per annum 2010-2015

Robust economic growth• World #2 economy in 2010• 8% GDP growth for the next 5 years (government target 7.5%)

Ageing population• 2006-2010: +46 million >50 years old• 2010-2020: +180 million more

Increasing incidence of chronic diseases • Latest study estimates 92 million people with diabetes• Obese population tripled from 2002 to 2010

Sweeping healthcare reforms • Broaden coverage and benefits• Strengthen primary care and rural healthcare services• Improve disease prevention and early diagnosis

Increased investment from all players • Increasing M&A activity


Substantial growth in diabetes prevalence expected in the BRIC countries

8 10

5144

13 10

87

64

0

20

40

60

80

100

Brazil Russia India China

20102030

Driven by prevalence growth in the BRIC countries

Million people

Source: International Diabetes Foundation: Diabetes Atlas, 2000 and 2009Note: Data covers the 20-79 age-group. IO: International Operations, Japan includes Korea

Diagnosis, treatment intensification and regional difference remains key challenges

0

20

40

60

80

100

People withdiabetes

Diagnoseddiabetics

Treateddiabetics

Patientsachieving

targets

% of people with diabetes

24%

3%

30%


Changing Diabetes®

in China

-

increasing awareness and diagnosis

• Insulin Patient Self-management Guideline, CDS-NN• Changing Diabetes®

bus: 3 years, 61 cities, 46,000 patients and ~200 media reports • 12 more cities will be covered in 2011

• Diabetes knowledge websites

for both patients and physicians• GDM program: 3-year, World Diabetes Foundation-Ministry of Health-Novo Nordisk programme:

• Establish 45 centres, train 4,725 physicians and screen 292,500

women• Localised “Barometer”

Programme

—

Diabetes Care Campaign: • Covered 90 hospitals + 200 CHC, 45,952 patients screened, 1,690

physicians and nurses educated• Social Network for Endocrinologists

in China & Medical Information Website: launched in Feb 2011• Leadership

foras• NNDU• NovoCare

–

serving

more than

600,000 members

since

2011• Provide comprehensive diabetes knowledge for patients and organise a variety of patient activities• 24-hour hotline service -

>9000 calls per month• Patients follow-up calls to ensure successful insulin initiation -

>66,000 calls per month


Novo Nordisk is the company with the largest focus on diabetes care in China

Branch Office

Frontiers

Heilongjiang

Jilin

Liaoning

Tianjing

Beijing

HebeiShanxi

ShandongJiangsu

Zhejiang

Fujian

JiangxiHunan

Guangxi

Anhui

HenanShanxi

Hubei

Xinjiang Gansu

Sichuan

ShanghaiTibet

Qinghai

Inner Mongolia

Yunnan

Guizhou

Chongqing

Ningxia

Hainan

TaiwanGuangdong

Shenyang

Guangzhou

Wuhan

Hong Kong

Jinan

Changchun

A total of 3,375 employees across•

Commercial operations in China•

Manufacturing•

R&D•

Hong Kong•

Taiwan


The Chinese insulin market is expanding significantly -

predominately driven by the premix segment

1

2

3

4

5

6

Chinese diabetes care market by treatment class by value Chinese insulin market by segments

0

4

8

12

16

20

24

Feb

2006Feb

2011

Long acting

Premix

Fast acting


tMU

14%

53%

33%

13%

64%

23%

OAD Insulin GLP-1

Feb

2006Feb

2011

DKK

billion


CAGR 27.8%

CAGR 38.8%

Note: *in DKK. Monthly

MAT, volume figures. IMS projects the Chinese market based on hospital data from 14% of Chinese hospitalsSource: IMS

Note: Monthly MAT, value figures. IMS projects the Chinese market based on hospital data from 14% of Chinese hospitalsSource: IMS


0%

10%

20%

30%

40%

50%

60%

70%

Novo Nordisk is leading the total diabetes market in China…

Total diabetes care value market shares Total insulin volume market shares

0%

10%

20%

30%

40%

Feb

2006

37%

9%

6%


Feb

2011

15%

4%

Bayer-Schering Bristol Myers-Squibb

Source: IMS Monthly MAT, value figures. IMS projects the Chinese

market based on hospital data from 14% of Chinese hospitals

Novo Nordisk Sanofi-Aventis Eli LillyShanghai Fosun Tonghua

Dongbao

Feb

2006

Source: IMS Monthly MAT, volume figures. IMS projects the Chinese market based on hospital data from 14% of Chinese hospitals

63%

5%12%

4%

13%

Feb

2011


…and maintaining clear leadership in the significant human insulin market…

Human insulin value market share Human insulin volume market share

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Feb

2006

76%

17%

Novo Nordisk Eli Lilly

Feb

2011

6%

Source: IMS Monthly MAT, value figures.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Feb

2006


74%

17%

Feb

2011

Tonghua

Dongbao

8%

Novo Nordisk Eli LillyTonghua

Dongbao


…and maintaining a very solid leadership position in the modern insulin market

Modern insulin value market share Modern insulin volume market share

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Feb

2006

53%

32%

8%

Novo Nordisk Sanofi-Aventis

Feb

2011

6%

BJ Ganli

Pharm


0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Feb

2006


69%

Feb

2011

Eli Lilly

15%11%

4%

Novo Nordisk Sanofi-Aventis

BJ Ganli

PharmEli Lilly


Outlook for Novo Nordisk in China

•

Continue to collaborate with public authorities on diabetes awareness programmes

•

Continue to be the main source of information on diabetes to doctors

•

Continue to be the leading patient support company in the diabetes field

•

Expand operations further into smaller cities and rural areas

•

Launch of Victoza®

in second half of 2011


Closing

remarks

Kåre SchultzCOO


Innovation is the key to sustained growth

Diabetes Modern insulins

Victoza®Degludec*

DegludecPlus*IDegLira*

FIAsp*

Liraglutide in pre-diabetes and obesity

*Note: Degludec is the internal designation for insulin degludec. DegludecPlus is the internal designation for insulin degludec/insulin aspart. IDegLira

is the internal designation for insulin degludec/liraglutide. FIAsp

is the internal designation for fast acting insulin aspart.


Capital markets expect diabetes care to continue to outgrow the general pharmaceutical industry

Growth in global pr

escription sale

s versus di

abetes care sales (CAGR)

Source: EvaluatePharma, data retrieved January 21, 2011

Diabetes Care salesTotal Prescription sales

2000-2005 2005-2010 2010-2015

Insulin and GLP-1 sales

10.7%

12.3%

18.4%

6.4%

12.0%

15.9%

3.6%

7.8%9.2%

global diabetes care_market_cmd2011

Health & Medicine