UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
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REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
January 16 2007
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NOVO NORDISK A/S
(Exact name of Registrant as specified in its charter)
NOVO ALLE
DK-2880, BAGSVAERD
DENMARK
(Address of principal executive offices)
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Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F
Form 20-F [X] Form 40-F [ ]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g-32(b):82-_____________________
RESEARCH UPDATE
NOVO NORDISK FOCUSES RESEARCH AND DEVELOPMENT ON THERAPEUTIC PROTEINS -
DISCONTINUES R&D within small molecules
Novo Nordisk today announced a decision to focus all its research and
development (R&D) resources on the company's growing pipeline of protein-based
pharmaceuticals. As a result of this decision the company's R&D activities
within small molecules for oral treatment of diabetes will be discontinued and
existing projects divested.
Since 2002, Novo Nordisk has increased its focus on pharmaceuticals based on
therapeutic proteins, and today the company's pipeline of protein-based
pharmaceuticals within diabetes, haemostasis, growth disorders and other
diseases is larger than ever.
Mads Krogsgaard Thomsen, chief science officer and executive vice president of
Novo Nordisk, said: "Our core competences lie within therapeutic proteins, and
it is within this area that we can make the greatest difference in terms of
patient outcomes and company growth. Therefore, it is a logical move to focus
all our research and development efforts on this area."
Existing pre-clinical and clinical small-molecule projects, including NN9101 (a
glucokinase activator project currently in phase 1 clinical testing) are
expected to be out-licensed.
The decision will have a direct impact on approximately 180 employees. Novo
Nordisk currently estimates that it will be possible to offer other positions
within the company to approximately half of the affected employees. The company
has initiated negotiations with the local unions regarding plans for
redundancies, which are mainly expected to affect scientists specialised in
small molecules.
The decision does not change the preliminary guidance for 2007, which was
provided on 27 October 2006 in Novo Nordisk's financial statement for the first
nine months of 2006 based on the currency exchange rates prevailing at the end
of October 2006. Furthermore, and as previously communicated, Novo Nordisk still
expects to increase spending in 2007 on R&D as a proportion of sales compared to
the level for 2006.
Novo Nordisk will provide full guidance on expectations for 2007 in connection
with the release of the full-year financial results for 2006, scheduled for 31
January 2007.
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 23,000 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.
CONTACTS FOR FURTHER INFORMATION:
Media: Investors:
Outside North America: Outside North America:
Mike Rulis Mogens Thorsager Jensen
Tel: (+45) 4442 3573 Tel: (+45) 4442 7945
E-mail: mike@novonordisk.com E-mail: mtj@novonordisk.com
Christian Qvist Frandsen
Tel: (+45) 4443 5182
E-mail: cqfr@novonordisk.com
Hans Rommer
Tel: (+45) 4442 4765
E-mail: hrmm@novonordisk.com
In North America: In North America:
Susan T Jackson Mads Veggerby Lausten
Tel: (+1) 609 919 7776 Tel: (+1) 609 919 7937
E-mail: stja@novonordisk.com mlau@novonordisk.com
Stock Exchange Announcement no 2/2007
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf of the
undersigned, thereunto duly authorized.
Date: January 16 2007 NOVO NORDISK A/S
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Lars Rebien Sorensen,
President and Chief Executive Officer