Annual general meeting at Novo Nordisk A/S

| Source: Novo Nordisk A/S Novo Nordisk A/S

At the annual general meeting of Novo Nordisk A/S today, the shareholders adopted
 
  • The Annual Report including Auditors' Report, Annual Accounts and Consolidated Accounts, giving discharge to Management and the Board of Directors.
  • The application of profits according to the adopted Annual Accounts. Thus the dividend will be DKK 13.25 per share of DKK 10 (DKK 6.63 per ADS), an increase of 36% compared with 1999.
  • Re-election of Ulf J Johansson and Mads Øvlisen to the Board of Directors.
  • Re-election of auditors - PricewaterhouseCoopers and Ernst & Young, Statsautoriseret Revisionsaktieselskab.
  • Amendments of the Articles of Association as regards the company's share capital, including
    • - reduction of the company's B share capital,
    - extension of the authorisations to increase the share capital by issuing shares to the employees, in connection with acquisition of an existing company or in connection with a general increase in the company's share capital.
     
    Authorisation to the Board of Directors, until the next Annual General Meeting, to allow the company to acquire own shares of up to 10% of the share capital and at the price quoted on the date of purchase with a deviation of up to 10%, cf. Section 48 of the Danish Companies Act.
     
     
     
    In the course of his oral report Mads Øvlisen, chairman of the Board, said:
     
    "The AIDS catastrophe in Africa is a frightening problem, the solution of which requires a major effort on behalf of many parties, including industry. We and many other pharmaceutical companies are working to bring aid programmes to Africa.
     
    "We believe that the lawsuit will not deny South Africa access to affordable AIDS medicines and hence we have no plans to withdraw from the lawsuit, but we naturally hope that negotiations can lead to a solution.
     
    "We will continue patenting our discoveries. This is the only way we can protect our research efforts and achieve the earnings that make it possible for us to conduct future research and to work toward better health in poor countries.
     
    "AIDS medicines are patented. But they are part of a larger picture, which shows that 95 per cent of the pharmaceuticals defined as essential medicines by the World Health Organisation are not patent protected. In other words, any producer of pharmaceuticals can legally copy them. Nonetheless, millions of people in poor countries do not have access to these medicines. This underscores the fact that inadequate access to essential medicines in developing nations is not the result of patents, but rather what we uncomfortably call a poverty problem.
     
    "These problems have no simple solutions. Solutions can only be found in cooperation between local governments, rich Western countries, help organisations and the pharmaceutical industry. Novo Nordisk is already carrying its share of the burden in cooperation with many countries. We will continue to do so."
     
    The Board of Directors of Novo Nordisk A/S now comprises:
     
  •          Mads Øvlisen (chairman)                                       
  •          President Kurt Anker Nielsen, Novo A/S (vice chairman)        
  •          Director Kurt Briner, Switzerland                             
  •          Specialist laboratory technician Tove Funder-Nielsen (employee
  •          President Niels Jacobsen, Oticon Danmark A/S and William Demant
  •          Dr Tech Ulf J Johansson, Sweden                               
  •          Laboratory technician Anne Marie Kverneland (employee represent
  •          Chemical engineer Morten Munk (employee representative)       
  •          Electrician Stig Strøbæk (employee representative)            
  •          Executive vice president Jørgen Wedel, The Gillette Company, US
    •  
    Novo Nordisk is a focused healthcare company and the world leader in diabetes care.  In addition, Novo Nordisk has a leading position within areas such as coagulation disorders, growth disorders and hormone replacement therapy.  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 14,000 people in 68 countries and markets its products in 179 countries.  Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADSs are listed on the New York Stock Exchange under the symbol "NVO". For further company information visit  www.novonordisk.com
     
     
     
    For further information please contact:
     
     
     
    Media  
    Outside North America
    Karsten Madsen 
    Tel (direct): (+45) 4442 4137 
     
     
     
    In North America 
    Susan T Jackson 
    Tel: (+1) 212-867-0123 
     
     
     
    Investors
    Outside North America
    Peter Haahr
    Tel (direct): (+45) 4442 1207
     
     
     
    Palle Holm Olesen
    Tel (direct): (+45) 4442 6175
     
     
     
    In North America
    Rasmus Holm-Jørgensen
    Tel (direct): (+1) 212-878-9607
     
     
     
    Stock Exchange Announcement No 6 / 2001