We have performed an assurance engagement on the Novo Nordisk Sustainability Report 2002 (‘the Report’) and the underlying systems, structures and processes.

These subject matters are the responsibility of the Novo Nordisk Executive Management, with whom the objective and terms of the engagement were agreed. We are responsible for expressing our conclusions and findings based on the engagement.

We have based our approach on emerging best practice for independent assurance on sustainability reporting, including the AA1000 Assurance Standard, Guiding Principles, Consultation Document, June 2002 (AA1000AS CD), and ISA 100 Assurance Engagements, issued by the International Auditing and Assurance Standards Board.

This independent assurance statement concludes our engagement, which was conducted in three parts. Our detailed recommendations for management as well as information on our independence are available in the internet version of the Report.

We have reviewed the Report and its preparation considering the objective of the Report and its accordance with GRI’s 2002 Sustainability Reporting Guidelines, as described in 'About the report'.

In this part we reviewed the systems, structures and processes applied by Novo Nordisk as described in the Report (excluding quantitative data) and as required in ‘the Novo Nordisk Way of Management’ pertinent to the company’s Triple Bottom Line
approach.

Our engagement included a review of evidence supporting the subject matters, and performing such other analytical procedures and interviews, as we considered necessary in the circumstances. We believe that our review provides an appropriate basis for our conclusion.

The objective of this part of our engagement is to obtain a moderate level of assurance on completeness, materiality and responsiveness of aspects addressed in the Report and the underlying systems, structures and processes.

In conclusion, nothing has come to our attention that causes us not to believe that:

• Management has designed and applied reasonably effective systems, structures and processes to identify and understand activities, performance, impacts and stakeholder views.
• The Report provides, as an extract from this basis, a reasonably balanced representation of these activities, performance, impacts and stakeholder views, and it has been prepared in accordance with GRI’s 2002 Sustainability Reporting Guidelines. A comprehensive GRI compliance index is available in the internet version on of the Report.
• Management has a reasonably effective process in place for managing these aspects of performance and responding to stakeholder views; and Novo Nordisk has  applied processes that allow stakeholders to access the Report.

In this part we examined the environmental information system CATCH at the corporate level. CATCH is described on page 59 in the Report. We have further examined the energy and water consumption data presented in the Report and consolidated from production sites as determined in ‘About the report’.

On a test basis we examined the evidence supporting the subject matters and we performed other such procedures, as we deemed necessary. We believe that our examination provides a reasonable basis for our opinion.

The objective of this part of our engagement is to obtain a high level of assurance. In our opinion, in all material respects:

• CATCH is functioning as described, and the system ensures an appropriate data collection process at the corporate level.
• The data for energy and water consumption are complete, and accurately reported in accordance with ‘About the report’.

In this part we performed certain procedures focusing on the collection and inclusion of other quantitative data in the Report. The agreed-upon scope and work performed under this part of our engagement preclude us from stating an opinion as to whether other data in the Report are complete and accurate.

We find that Novo Nordisk applied detailed data collection procedures for the purpose of collecting 2002 data from the reporting units for inclusion and appropriate reflection in the Report; and made reasonable endeavours at corporate level to verify the data. For the two reporting units, Kalundborg and Køge, included in the scope of this engagement, submitted data were consistent with the source documentation presented to us.

We recommend that Novo Nordisk clarifies whether issues of business ethics, such as competitiveness behaviour, bribery and corruption, should be part of the Triple Bottom Line approach.

We have observed noticeable improvements in the Report’s presentation on how Novo Nordisk deals with dilemmas and embeds actions in the context of global health and social responsibility. We recommend further development of reporting measures on the ‘Economic footprint’ emphasising the societal value of Novo Nordisk’s products and services to be a particular area of focus.

Copenhagen, 6 February 2003

DELOITTE & TOUCHE
Statsautoriseret Revisionsaktieselskab

Preben J. Sørensen
State Authorised Public Accountant