Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Shareholder Meeting (March 2012)
60 slides from Novo Nordisk A/s Class B's shareholder meeting presentation, Mar 21, 2012
Slide 1: Welcome
Welcome Novo Nordisk Annual General Meeting 21 March 2012
Slide 2: Sten Scheibye, Chairman of the Board
Sten Scheibye Chairman of the Board
Slide 3: Novo Nordisk
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Slide 4: Göran A Ando, Vice chairman
Goran A Ando a a 3 Vice chairman Y " ff - —— > = | ie ‘
Slide 5: Bruno Angelici
Bruno Angelici
Slide 6: Henrik Gürtler
Henrik Gürtler
Slide 7: Ulrik Hjulmand-Lassen
Ulrik Hjulmand-Lassen oe y)
Slide 8: Thomas Paul Koestler
Thomas Paul Koestler
Slide 9: Anne Marie Kverneland
Anne Marie Kverneland
Slide 10: Kurt Anker Nielsen
Kurt Anker Nielsen
Slide 11: Søren Thuesen Pedersen
Søren Thuesen Pedersen
Slide 12: Hannu Ryöppönen
Hannu Ryo6pponen
Slide 13: Stig Strøbæk
Stig Strøbæk
Slide 14: Jørgen Wedel
Jørgen Wedel
Slide 15: Lars Rebien Sørensen
Lars Rebien Sørensen
Slide 16: Jesper Brandgaard
Jesper Brandgaard
Slide 17: Lise Kingo
Lise Kingo
Slide 18: Kåre Schultz
Kåre Schultz
Slide 19: Mads Krogsgaard Thomsen
Mads Krogsgaard Thomsen
Slide 20: Lars Baungaard
Lars Baungaard
Slide 21: Novo Nordisk
i, novo nordisk
Slide 22: Agenda - Annual General Meeting 2012
Agenda - Annual General Meeting 2012 1. The Board of Directors’ oral report on the company’s activities in the past financial year. 2. Presentation and adoption of the audited Annual Report 2011. 3. Approval of the remuneration of the Board of Directors for 2011 and 2012. 4. A resolution to distribu
Slide 23: Novo Nordisk
i, novo nordisk
Slide 24: Lars Rebien Sørensen, President & CEO
Lars Rebien Sørensen President & CEO
Slide 25: Victoza and modern insulins continue to drive growth
Victoza® and modern insulins continue to drive growth – full year 2011 Sales as reported Growth analysis Local currencies Growth Share of Other growth Norditropin® 4% Modern insulins 11% 41% 8% Human insulins (8%) (14%) NovoSeven® 12% Victoza® 166% 55% Protein-related sales 5% 2% OAD (3%) (1%) Diabe
Slide 26: Novo Nordisk continues to expand leadership position within diabetes care
Novo Nordisk continues to expand leadership position within diabetes care Global diabetes care market Global diabetes care by treatment class value market share DKK billion Novo Nordisk Lilly BMS GLP-1 Insulin OAD 30% Takeda Merck Novartis Total market: Sanofi GSK CAGR 8.4% 24% Injectables: CAGR 13.
Slide 27: Victoza is driving the global expansion of the GLP-1 market
Victoza® is driving the global expansion of the GLP-1 market Global GLP-1 sales in bDKK (right axis) DKK billion 5% 9 8 Diabetes market share (value) 4% 7 6 3% 5 Victoza® 4 2% 3 1% exenatide 2 1 0% 0 Dec Dec 2006 2011 Source: IMS Monthly MAT, value figures (DKK)
Slide 28: North America continues to drive sales growth
North America continues to drive sales growth – full year 2011 Sales as reported Growth analysis Local currencies Growth Share of Region China growth Japan & Korea North America 18% 61% 8% Europe 2% 6% 9% North America International Operations 17% 21% International 40% Operations 14% Japan & Korea 5
Slide 29: R&D update
R&D update { —~ 4 : - ~ 4 Z L . 2 Df at ) C ) }
Slide 30: R&D pipeline: insulin and obesity
R&D pipeline: insulin and obesity Pipeline status Insulin • Degludec and DegludecPlus submitted for regulatory approval in US, EU, Japan and other markets • New fast-acting insulin in phase 1 development • Oral insulin in phase 1 development GLP-1 • Semaglutide has completed phase 2 development • Li
Slide 31: R&D pipeline: haemophilia
R&D pipeline: haemophilia Pipeline status Haemophilia A • Turoctocog alfa (factor 8) has finalised phase 3 development • Long-acting factor 8 in phase 3 development • Anti-TFPI in phase 1 development Haemophilia B • Long-acting factor 9 in phase 3 development • Anti-TFPI in phase 1 development Haemo
Slide 32: R&D pipeline: inflammation and growth hormone deficiency
R&D pipeline: inflammation and growth hormone deficiency Pipeline status Rheumatoid arthritis • Anti-IL-20 in phase 2 development • Anti-IL-21, anti-NKG2d, anti-C5aR and anti-NKG2a in phase 1 development Crohn’s disease • Anti-NKG2d in phase 2 development Growth hormone deficiency • NN8640 (long-act
Slide 33: Sustainable business model
Sustainable business model Financially responsible Competitive financial performance Socially responsible Environmentally responsible Health and well-being for people Eco-balance and animal welfare
Slide 34: Making a difference for patients
Making a difference for patients Fatma Tarek Hamad type 1 diabetes Egypt • An estimated 24 million people are treated with Novo Nordisk injectable diabetes care products • 835,000 healthcare professionals and 626,000 people with diabetes trained or educated in diagnosis, treatment and self- manageme
Slide 35: Environmental performance
Environmental performance DKK billion 1,000 tons 70 300 240 60 180 50 120 40 60 30 0 2006 2007 2008 2009 2010 2011 Reported sales (left axis) CO2-emissions (right axis)
Slide 36: Novo Nordisk
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Slide 37: Consolidated income statement
Consolidated income statement DKK million 2011 2010 Change in % Sales 66,346 60,776 9 Total costs 44,466 42,542 5 Licence fees and other operating income (net) 494 657 (25) Operating profit 22,374 18,891 18 Net financials (449) (605) (26) Profit before income taxes 21,925 18,286 20 Income taxes 4,82
Slide 38: Consolidated statement of changes in equity
Consolidated statement of changes in equity DKK million 2011 2010 Equity at the beginning of the year 36,965 35,734 Net profit for the year 17,097 14,403 Dividends (5,700) (4,400) Purchase of treasury shares (10,839) (9,498) Sale of treasury shares to employees 244 678 Share-based payment 319 463 De
Slide 39: Consolidated balance sheet per 31 December 2011
Consolidated balance sheet per 31 December 2011 DKK million Assets Liabilities 2011 2010 2011 2010 Non-current assets 25,107 24,109 Equity 37,448 36,965 Inventories, trade 26,183 25,276 Non-current 6,471 5,961 receivables and liabilities other current assets Cash at bank and 13,408 12,017 Current li
Slide 40: Agenda item 3: Approval of remuneration of the Board for 2011 and 2012
Agenda item 3 Approval of the remuneration of the Board of Directors for 2011 and 2012 3.1 Approval of actual remuneration for 2011 3.2 Approval of remuneration level for 2012
Slide 41: Novo Nordisk's remuneration principles
Novo Nordisk’s remuneration principles • Board • Fixed annual base fee • A multiplier of the fixed base fee for committee work • Fee for ad hoc tasks • Travel allowance • Executive Management • Fixed base salary • Short-term incentive programme • Up to 6 months’ fixed base salary plus pension contri
Slide 42: Approval of actual remuneration for 2011
Agenda item 3.1 Approval of actual remuneration for 2011 • Fixed annual base fee DKK 500,000 • Chairman to receive 3.00 times the base fee • Vice chairman to receive 2.00 times the base fee • Fee for ad hoc tasks and committee work • The Board of Directors will determine a fixed fee on a case-by-cas
Slide 43: Approval of remuneration level for 2012
Agenda item 3.2 Approval of remuneration level for 2012 • Fixed annual base fee DKK 500,000 • Chairman to receive 3.00 times the base fee • Vice chairman to receive 2.00 times the base fee • Fee for ad hoc tasks and committee work • The Board of Directors will determine a fixed fee on a case-by-case
Slide 44: Remuneration of executives for 2011
Remuneration of executives for 2011 • Fixed base salary • Between DKK 4.1 and DKK 7.3 million • Short-term incentive programme • Between DKK 1.4 and DKK 3.1 million, corresponding to 4-5 months’ fixed base salary • Long-term incentive programme • Novo Nordisk B shares corresponding to 6.5 months of
Slide 45: Proposed appropriation of net profit
Agenda item 4 Proposed appropriation of net profit DKK million 2011 Net profit in the parent company 17,054 Net revaluation reserve according to the equity method (1,767) Retained earnings 11,079 Proposed dividends 7,742 Proposed dividend/net profit (payout ratio) 45.3% Proposed dividend per share i
Slide 46: Novo Nordisk
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Slide 47: Agenda item 5: Election of members to the Board of Directors
Agenda item 5 Election of members to the Board of Directors, including chairman and vice chairman
Slide 48: Board of Directors candidates
Sten Scheibye Göran A Ando Bruno Angelici Henrik Gürtler Thomas Paul Koestler Kurt Anker Nielsen Hannu Ryöppönen
Slide 49: The competence profile for the Board of Directors
The competence profile for the Board of Directors
Slide 50: Liz Hewitt
Liz Hewitt
Slide 51: Novo Nordisk
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Slide 52: Agenda item 6: Appointment of auditor
Agenda item 6 Appointment of auditor
Slide 53: Agenda item 7: Proposals from the Board of Directors
Agenda item 7 Proposals from the Board of Directors: Re item 7.1 – Reduction of the share capital Re item 7.2 – Authority to repurchase own shares Re item 7.3 – Amendments to the Articles of Association Re item 7.4 – Adoption of revised remuneration principles
Slide 54: Agenda item 7.1
Agenda item 7.1 Proposal from the Board of Directors: Reduction of the company’s B share capital from DKK 472,512,800 to DKK 452,512,800 by cancellation of 20,000,000 B shares of DKK 1 each from the company’s own holdings of B shares at a nominal value of DKK 20,000,000, equal to 3.4% of the total s
Slide 55: Agenda item 7.2
Agenda item 7.2 Proposal from the Board of Directors: Authorisation of the Board of Directors, until the next Annual General Meeting, to allow the company to repurchase own shares of up to 10% of the share capital and a holding limit of 10% of the share capital, and at the price equal to the share p
Slide 56: Agenda item 7.3
Agenda item 7.3 Proposal from the Board of Directors: The Board of Directors proposes the following amendments to the Articles of Association 7.3.1 Authorisation of the Board of Directors to resolve that communication from the company to the shareholders may take place electronically 7.3.2 Replaceme
Slide 57: Agenda item 7.4
Agenda item 7.4 Proposal from the Board of Directors: Adoption of revised remuneration principles • Adjustment and alignment of the fee and remuneration benchmarks for the Board and Executive Management; explicit mentioning of other Danish companies in the benchmarks given their importance for execu
Slide 58: Novo Nordisk
i, novo nordisk
Slide 59: Agenda item 8: Any other business
Agenda item 8 Any other business
Slide 60: Novo Nordisk
i, novo nordisk