Investor Presentaiton

Investor presentation Full year 2018 Slide 41 Solid patent protection of innovative drugs Novo Nordisk's position is protected by patents and value chain setup EU patent protection¹ US patent protection¹ Barriers to entry for biosimilar players Research & Development OZEMPİC semaglutide injection 2031 20313 · Need to show comparability in PK/PD trials • Fiasp 2030 2030 Strict regulatory requirements in the EU and the USA • fast-acting insulin aspart Xultophy 20282 20292 insulindequdeciagut de [rDNA origninjection 2028 2029 TRESIBA insulindegudec DNA igninjection . RYZODEG 2028 2029 • 70% insulindedecand 30% Requirement for both drug and device offering Manufacturing Economies of scale for incumbents Up-front CAPEX requirements with slow return on investment JONAakriton refixia® 2028 2027 VICTOZA 20233 20233 Commercialisation Leve mir 2019 2019 • Large and fragmented target audience (insulin detemir) · NovoMix Expired4 Expired5 Cost pressure from payers • (biphasic insulin aspart) Novo Rapid Expired6 (insulin aspart) norditropinⓇ Expired8 Expired? Expired8 On-going conversion to next generation drugs and slow market dynamics 1 List does not include all marketed products. 2 Protected by patents on the individual compounds insulin degludec and liraglutide as listed. 3 including six months paediatric extension 4 Expired in 2015. 5 Expired in 2014. 6 Expired in 2011. 7 Expired in 2014. 8 Expired in 2017 Note: SaxendaⓇ patent identical to VictozaⓇ patent. PK: Pharmacokinetic, PD: Pharmacodynamic; CAPEX: Capital expenditure novo nordisk

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