Novo Nordisk gift creates University of Toronto/Banting and Best Diabetes Centre student environment

Business Wire, Oct 8, 1996

TORONTO--(BUSINESS WIRE)--Oct. 8, 1996--Novo Nordisk A/S (NYSE:NVO) has commemorated the 75th Anniversary of the discovery of insulin and honored the institution that enabled Novo Nordisk to become the world leader in the production of insulin through a gift that will live long into the future.

The University of Toronto/Banting and Best Diabetes Centre/Novo Nordisk Award has been announced.

The Novo Nordisk gift of $1.4 million (CDN) will be matched by the University of Toronto (U of T) and again by the Province of Ontario under the terms of the Ontario Student Opportunity Trust Fund to create a $4.2 million endowment. The endowment will benefit the U of T's award program for students in the Faculty of Medicine in connection with research at the Banting and Best Diabetes Centre.

The University of Toronto has also committed, in collaboration with Novo Nordisk, to establishing research fellowships each year for three years beginning in 1997. This research fellowship program is designed to facilitate the exchange of ideas between Banting and Best Diabetes Centre and the Novo Nordisk world-class research facilities, ZymoGenetics in Seattle and Hagedorn Research Institute in Denmark. In addition, an annual symposium will be organized jointly by the Banting and Best Diabetes Centre and Novo Nordisk. The symposium will enable research activities to be presented on a regular basis.

Mads Ovilsen, president and chief executive officer of Novo Nordisk announced the gift at the Novo Nordisk celebratory dinner last night at the Royal Ontario museum. He said, "This is a very special occasion. Novo Nordisk takes this opportunity to say `thank you' to Canada for generously sharing the discovery of insulin. Insulin and Novo Nordisk are joined by history, and we are proud to give back to the Banting and Best Diabetes Centre some of what we were given -- science on the road to better treatments and a cure."

Ovilsen added, "We see investing in students as an investment in the future of research. After all, Dr. Charles Best, one of the discoverers was a medical student who was given a small amount of money to conduct research with Sir Frederick Banting and insulin was the result."

Dr. Bernard Zinman, director of the Banting and Best Diabetes Centre said, "We are enthusiastic about this generous gift, the opportunity to collaborate with Novo Nordisk, and the student aid which will result. I believe our relationship helps us reach a mutual goal of fostering excellence in medical education and attracting the best creative minds to the field of medical research."

Dr. Daniel Drucker, director of the U of T's Division of Endocrinology added, "This endowment is a wonderful tribute to Canada. It honors the contribution made by Banting and Best and Canada's desire to share that important discovery with the world. It also marks the beginning of an ongoing collaborative relationship with Novo Nordisk to further research on an global scale."

Novo Nordisk A/S is the world leader in insulin and diabetes care and also manufactures and markets a variety of other pharmaceutical products. Furthermore, the company is the world's largest producer of industrial enzymes. Headquartered in Denmark, Novo Nordisk employs approximately 13,400 people in 54 countries and markets its products in 130 countries. Its B shares are listed on the stock exchanges in Copenhagen, London and Zurich. Its ADSs are listed on the New York Stock Exchange under the symbol "NVO".

CONTACT: Novo Nordisk of North America, Inc.

Susan Jackson, Corporate Communications

212/867-0123 or Fax: 212/986-6499

Peter Baekgaard, Investor Relations

212/867-0123 or Fax: 212/867-0298

or

University of Toronto

Kim Luke, 416/978-2105 or Fax: 416/978-1632