Novo Nordisk's divestment of its ownership of Dako's business
activities has now been completed
As communicated in Stock Exchange Announcement no 6 on 28 February
2007, the Board of Directors of Dako A/S decided to divest its only
subsidiary Dako Denmark A/S to the private equity fund EQT V. Dako
Denmark A/S was the sole owner of the global business activities for
the Dako Group, one of the world's leading companies within cancer
diagnostics. As previously communicated, Novo Nordisk owns 27% of
Dako A/S.
The sales agreement was subject to a number of conditions. All
conditions have now been fulfilled including the approval of the
transaction by the relevant competition authorities and thus the
divestment was completed today.
As a consequence of this transaction, and as previously communicated,
Novo Nordisk expects to record a tax-exempt income of around DKK 1.5
billion in relation to Dako's sale of Dako Denmark A/S, of which
around DKK 1.4 billion is now expected to be recorded in the second
quarter of 2007. The remaining around DKK 100 million is subject to
the outcome of certain warranty obligations and is expected to be
recorded in the first half of 2008. The income from the transaction
will be recorded under 'Share of profit in associated companies' in
the 'net financials' part of the income statement.
Novo Nordisk is a healthcare company and a world leader in diabetes
care. The company has the broadest diabetes product portfolio in the
industry, including the most advanced products within the area of
insulin delivery systems. In addition, Novo Nordisk has a leading
position within areas such as haemostasis management, growth hormone
therapy 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 more than
23,600 employees in 79 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 more information, visit
novonordisk.com.
The Dako Group is a Denmark-based, world leading provider of systems
for cancer diagnostics. Hospital and research laboratories worldwide
use Dako products to make precise diagnoses and determine the most
effective treatment of patients suffering from cancer. With more than
1,300 employees and a presence in more than 20 countries, Dako covers
most of the global pathology markets. Remaining markets are covered
by distributors in 50 countries. www.dako.com
Contacts for further information:
Media: Investors:
Outside North America: Outside North America:
Michael Laub Mads Veggerby Lausten
Tel: (+45) 4442 1960 Tel: (+45) 44437919
E-mail: mclb@novonordisk.com E-mail: mlau@novonordisk.com
Hans Rommer
Tel: (+45) 4442 4765
E-mail: hrmm@novonordisk.com
In North America: In North America:
Lori Moore Christian Qvist Frandsen
Tel: (+1) 609 919 7991 Tel: (+1) 609 919 7937
E-mail: lrmo@novonordisk.com E-mail: cqfr@novonordisk.com
Stock Exchange Announcement No 14 / 2007