As the 10,000,000 shares have been sold at USD 12 or at a 165% premium to the net book value/share prior to the offering, Novo Nordisk will record an accounting pretax income of approximately DKK 240 million reflecting the higher value of Novo Nordisk's share of the net equity in ZymoGenetics after the offering. This income will be accounted for as "other operating income" in Novo Nordisk's profit and loss account for 2002. This amount does not include the impact from the underwriters' potential purchase of up to an additional 1,500,000 shares of common stock to cover possible over-allotments. If the underwriters decide to purchase these additional 1,500,000 shares of common stock, then Novo Nordisk will be able to record an additional other operating income of approximately DKK 30 million in 2002.
Novo Nordisk will announce its expectations for the year 2002 in connection with the release of its full-year 2001 results on 7 February 2002.
Novo Nordisk will remain the largest shareholder of ZymoGenetics after this offering, holding 39% of the total capital on a fully diluted basis.
Forward-looking statement
The above sections contain forward-looking statements as the term is defined in the US Private Securities Litigation Reform Act of 1995.
The above sections contain forward-looking statements as the term is defined in the US Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risk and uncertainties that may cause actual results to differ materially from expectations, including unexpected developments in the international currency exchange and securities markets, delay or failure of development projects, production problems, government-mandated or market-driven price decreases for Novo Nordisk's products in the company's major markets and the introduction of competing products within Novo Nordisk's core businesses.
These and other risks and uncertainties are further described in reports filed by Novo Nordisk with the US Securities and Exchange Commission (SEC) including the company's Form 20-F, which was filed on 28 April 2001.
Novo Nordisk is under no duty to update any of the forward-looking statements after the date of this report or to conform such statements to actual results, unless required by law.
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 haemostasis management, growth hormone theray 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 16,000 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 ADRs are listed on the New York Stock Exchange under the symbol 'NVO'.
For further company information visit www.novonordisk.com
For further company information visit www.novonordisk.com
For further information please contact:
Media:
Outside North America:
Karsten Madsen
Phone (direct): (+45) 4442 4137
Outside North America:
Karsten Madsen
Phone (direct): (+45) 4442 4137
In North America:
Susan Jackson
Phone (direct): (+1) 609 919 7776
Susan Jackson
Phone (direct): (+1) 609 919 7776
Investors:
Outside North America:
Peter Haahr
Phone (direct): (+45) 4442 1207
Outside North America:
Peter Haahr
Phone (direct): (+45) 4442 1207
Palle Holm Olesen
Phone (direct): (+45) 4442 6175
Phone (direct): (+45) 4442 6175
In North America
Rasmus Jorgensen
Phone (direct): (+1) 212 878 9607
Rasmus Jorgensen
Phone (direct): (+1) 212 878 9607
Stock Exchange Announcement No 3 / 2002