Slide 1

Investor presentation First quarter of 2016

Shanghai – part of Cities Changing Diabetes

Investor presentation

Agenda Highlights and key events

Sales update

R&D update

Financials and outlook

First quarter of 2016

Slide 2

Investor presentation

First quarter of 2016

Slide 3

Forward-looking statements Novo Nordisk’s reports filed with or furnished to the US Securities and Exchange Commission (SEC), including the company’s Annual Report 2015 and Form 20-F, which are both filed with the SEC in February 2016 in continuation of the publication of the Annual Report 2015, and presentations made, written information released, or oral statements made, to the public in the future by or on behalf of Novo Nordisk, may contain forward-looking statements. Words such as ‘believe’, ‘expect’, ‘may’, ‘will’, ‘plan’, ‘strategy’, ‘prospect’, ‘foresee’, ‘estimate’, ‘project’, ‘anticipate’, ‘can’, ‘intend’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future operating or financial performance identify forward-looking statements. Examples of such forward-looking statements include, but are not limited to: • Statements of targets, plans, objectives or goals for future operations, including those related to Novo Nordisk’s products, product research, product development, product introductions and product approvals as well as cooperation in relation thereto • Statements containing projections of or targets for revenues, costs, income (or loss), earnings per share, capital expenditures, dividends, capital structure, net financials and other financial measures • Statements regarding future economic performance, future actions and outcome of contingencies such as legal proceedings, and • Statements regarding the assumptions underlying or relating to such statements. These statements are based on current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. Novo Nordisk cautions that a number of important factors, including those described in this presentation, could cause actual results to differ materially from those contemplated in any forward-looking statements. Factors that may affect future results include, but are not limited to, global as well as local political and economic conditions, including interest rate and currency exchange rate fluctuations, delay or failure of projects related to research and/or development, unplanned loss of patents, interruptions of supplies and production, product recall, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Novo Nordisk’s products, introduction of competing products, reliance on information technology, Novo Nordisk’s ability to successfully market current and new products, exposure to product liability and legal proceedings and investigations, changes in governmental laws and related interpretation thereof, including on reimbursement, intellectual property protection and regulatory controls on testing, approval, manufacturing and marketing, perceived or actual failure to adhere to ethical marketing practices, investments in and divestitures of domestic and foreign companies, unexpected growth in costs and expenses, failure to recruit and retain the right employees, and failure to maintain a culture of compliance. Please also refer to the overview of risk factors in ‘Managing risks’ on p 42-43 of the Annual Report 2015. Unless required by law, Novo Nordisk is under no duty and undertakes no obligation to update or revise any forward-looking statement after the distribution of this presentation, whether as a result of new information, future events or otherwise.

Important drug information • •

Victoza® (liraglutide 1.2 mg & 1.8 mg) is approved for the management of type 2 diabetes only Saxenda® (liraglutide 3 mg) is approved in the US and EU for the treatment of obesity only

Investor presentation

First quarter of 2016

Slide 4

Highlights – First quarter of 2016 Sales development • Sales increased by 9% in local currencies and 8% in Danish kroner • USA and International Operations grew by 12% and 15% in local currencies, respectively • Victoza® increased by 15% in local currencies and continues to drive the growth of the GLP-1 market • Biopharm increased by 15% in local currencies, driven by non-recurring rebate adjustments for Norditropin® in the US • New-generation insulin now accounts for 17% share of growth in local currencies Research and Development • Victoza® significantly reduces the risk of major adverse cardiovascular events in the LEADER trial • Tresiba® shows lower rate of hypoglycaemia than insulin glargine U100 in SWITCH trials in people with type 1 and 2 diabetes • Semaglutide significantly reduces the risk of major adverse cardiovascular events in the SUSTAIN 6 trial Financials • Adjusted operating profit1 increased by 10% in local currencies and 9% in Danish kroner • Diluted earnings per share decreased by 2% to 3.71 DKK per share, adjusted for the partial divestment of NNIT it increased by 23% • 2016 financial outlook: • Sales growth is still expected to be 5-9% measured in local currencies (around 3% lower as reported) • Adjusted operating profit growth is still expected to be 5-9% measured in local currencies (around 4% lower as reported)

1

Adjusted operating profit accounts for partial divestment of NNIT and out-licensing of assets for inflammatory disorders, both in 2015

Investor presentation

Slide 5

First quarter of 2016

USA is the main contributor to sales growth Sales as reported – First quarter of 2016

Local currencies

Pacific +7% Region China +1%

8%

13%

Europe +1%

Growth

Share of growth

12%

64%

1%

3%

15%

23%

Region China

3%

4%

Pacific2

7%

6%

Total sales

9%

100%

USA Europe

11% International Operations +3%

Growth analysis – First quarter of 2016

50%

USA +14%

18%

International Operations1

Sales of DKK 27.2 billion (+8%)

Note: New regional structure as of Q1 2016 1 Excludes Oceania 2 Comprises Japan, Korea, Canada and Oceania

Investor presentation

Slide 6

First quarter of 2016

Sales growth is driven by Victoza® and new-generation insulin Sales as reported – First quarter of 2016 Norditropin® +32%

Haemophilia +4%

Other +15%

Growth analysis – First quarter of 2016 Local currencies

Growth

Share of growth

136%

17%

Modern insulin

3%

15%

Human insulin

(3%)

(4%)

Victoza®

15%

27%

Other diabetes and obesity care2

16%

9%

Diabetes and obesity care

7%

64%

Haemophilia3

4%

4%

32%

27%

15%

5%

15%

36%

9%

100%

New-generation

4% 3% 9% 7%

11% 10%

77% 79%

Diabetes and obesity care +6%

insulin1

Norditropin® Other

biopharmaceuticals4

Biopharmaceuticals

Sales of DKK 27.2 billion (+8%)

Total Comprises and Primarily NovoNorm®, needles and Saxenda® Comprises NovoSeven®, NovoEight® and NovoThirteen® 4 Primarily Vagifem® and Activelle® 1 2

Note: Norditropin® Q1 sales growth is derived primarily from USA reflecting a positive non-recurring adjustment to rebates in the Medicaid patient segment

3

Tresiba®,

Ryzodeg®

Xultophy®

Investor presentation

Slide 7

First quarter of 2016

Victoza® maintains leadership in the faster growing US GLP-1 market

Thousands

US GLP-1 market development MAT GLP-1 TRx (000) 7,000

Growth rate

Total TRx

US GLP-1 market shares

MAT volume growth rate 35%

GLP-1 TRx market share 100%

6,000

30%

5,000

25%

4,000

20%

60%

3,000

15%

40%

2,000

10%

1,000

5%

0

0%

Mar 2013

Source: IMS NPA MAT, March 2016

Mar 2016

Victoza® albiglutide

exenatide dulaglutide

80% 54%

21% 20% 0%

16% Mar 2013

Source: IMS NPA MAT, March 2016

9% Mar 2016

Investor presentation

Slide 8

First quarter of 2016

Roll-out of new-generation insulin portfolio is progressing Key launch observations • Tresiba® launched in 43 countries with solid penetration in markets with similar reimbursement as insulin glargine • Ryzodeg® commercially launched in Mexico, India, Bangladesh, Japan and now Russia • Xultophy® launched in Switzerland, Germany, the United Kingdom, Sweden and now Hungary

Tresiba® value share of basal insulin segment in selected countries, excl US Switzerland Japan Mexico Spain

Netherlands Sweden Denmark

UK Argentina Brazil

India Greece Italy

34%

35% 30%

25%

25%

28%

27%

20%

16%

15% 10%

7%

5%

15% 13% 13% 6%

8%

3%

4%

0% 0

4

8

12

16

20

24

Months from launch Note: Limited IMS coverage in India Source: IMS Monthly value figures, February 2016

28

32

36 36

Investor presentation

First quarter of 2016

Slide 9

Encouraging uptake of Tresiba® in the US Weekly US NBRx volume market shares Basal NBRx MS 50%

Tresiba®

Levemir® glargine U100

Tresiba® launched in the US

NN Total Basal glargine U300 45%

40% 30%

31% 22%

20%

16%

10%

8%

0% Jan 01-01-2016 2016 Note: The graph does not show NPH, which accounts for the residual market share Source: IMS weekly data, 1 April 2016, excludes Medicaid NBRx: New-to-brand prescription counts; MS: Market share

Apr 2016

• Full commercial launch in January 2016 following specialist engagement in Q4 2015 • Total Novo Nordisk new-to-brand prescription volume market share has increased by 3.4% in 2016 in the basal segment

• Tresiba® monthly volume market share has reached 1.4% • Tresiba® U200 accounts for around two-thirds of Tresiba® prescriptions • Wide formulary access has been obtained in both Part D and commercial channels

Source: IMS weekly data, 1 April 2016, excludes Medicaid

Investor presentation

First quarter of 2016

Slide 10

Victoza® significantly reduces the risk of major adverse cardiovascular events in the LEADER trial LEADER trial design

Headline results

Standard of care + liraglutide (0.6-1.8 mg once daily) 9,340 patients with T2DM

Standard of care + placebo (daily blinded injection)

0

Key milestones

3.5-5.0 years

Key inclusion criteria • Adults above 50 years with T2DM and established cardiovascular disease, or above 60 years with multiple cardiovascular risk factors • HbA1c 7.0% T2DM: Type 2 diabetes mellitus

• Non-inferiority as well as superiority demonstrated for primary end-point of major cardiovascular events (MACE), with a statistically significant reduction • Superior reduction in cardiovascular risk was derived from all three components of the end-point (CV death, MI, stroke) • Safety and tolerability profile of liraglutide in LEADER was generally consistent with previous liraglutide studies

• 13 June 2016: Presentation of LEADER results at the American Diabetes Association 2016 conference

• H2 2016: Submission of LEADER data to regulatory authorities as part of post-approval commitments MI: Myocardial infarct

Investor presentation

Slide 11

First quarter of 2016

Tresiba® shows lower rate of hypoglycaemia than insulin glargine U100 in SWITCH trials – filing expected Q3 2016 SWITCH 2 – type 2 diabetes

SWITCH 1 – type 1 diabetes Hypoglycaemic events per 100 PYE 3,000

Hypoglycaemic events per 100 PYE -30%* 300

-11%*

2,500 2,000 1,500

250 2,463

150 -36%*

500 429

0 Severe or BG confirmed symptomatic events

glargine U100

265

200

2,201

1,000

Tresiba®

277

-35%* 92

186

-46%

100 94

50 69

Severe or BG Severe events confirmed symptomatic nocturnal events

-42%*

55

0 Severe or BG confirmed symptomatic events

Severe or BG confirmed symptomatic nocturnal events

9

5

Severe events

Note: The prevalence of hypoglycaemia is measured during the maintenance period; Blood glucose confirmed hypoglycaemia is defined as by diabetes prevalence

• The only company with a full portfolio of novel insulin products

• 27%

market share in diabetes care and solid leadership position

• Semaglutide portfolio offers expansion opportunity with both injectable and oral administration

• 46%

insulin volume market share with leadership position across all regions

• Xultophy® supports promising outlook for insulin and GLP-1 combination therapy

• 45%

modern and new-generation insulin volume market share

• Saxenda® and multiple early stage development projects hold potential within obesity

• 64%

GLP-1 value market share with strong global leadership position

• Broad pipeline within haemophilia and growth hormone disorders

Source: IMS MAT February 2016 volume and value (DKK) figures

Investor presentation

Slide 19

First quarter of 2016

Investor contact information Share information Novo Nordisk’s B shares are listed on the stock exchange in Copenhagen under the symbol ‘NOVO B’. Its ADRs are listed on the New York Stock Exchange under the symbol ‘NVO’. For further company information, visit Novo Nordisk on the internet at: novonordisk.com

Upcoming events 18 May 2016 Thematic call on Sustainability

13 Jun 2016

Investor and analyst event in connection with ADA

05 Aug 2016 Financial statement for the first six months of 2016 28 Oct 2016

Financial statement for the first nine months of 2016

02 Feb 2017

Financial statement for 2016

Investor Relations contacts Novo Nordisk A/S Investor Relations Novo Allé, DK-2880 Bagsværd Peter Hugreffe Ankersen

+45 3075 9085

[email protected]

Daniel Bohsen

+45 3079 6376

[email protected]

Melanie Raouzeos

+45 3075 3479

[email protected]

+1 609 235 8567

[email protected]

In North America: Kasper Veje

Investor presentation

Appendix

1. Novo Nordisk at a glance 2. Diabetes 3. Biopharmaceuticals 4. Financials 5. Sustainability

First quarter of 2016

Slide 20

Investor presentation

Slide 21

First quarter of 2016

Novo Nordisk at a glance Global leader in diabetes care • A focused pharmaceutical company with leading positions in diabetes, haemophilia and growth hormone

Global insulin market leadership Global insulin market share: 46% Europe: Market share 46%

• Pursuit of double digit top line growth for diabetes

Pacific: Market share 48%

care franchise driven by diabetes pandemic • Significant growth opportunities fuelled by global presence and strong R&D pipeline • High barriers to entry in biologics • Operating profit growth targeting 10%

USA: Market share 38%

Region China: Market share 55% International Operations: Market share 54%

• Earnings conversion to cash targeting 90% • Cash generated returned to shareholders Global/regional headquarter Source: IMS MAT February, 2016 volume figures

Manufacturing

R&D facility

Investor presentation

First quarter of 2016

Slide 22

Novo Nordisk works with four strategic focus areas based on five core capabilities Strategic priorities

Expand leadership in DIABETES

Establish presence in OBESITY

Core capabilities Engineering, formulating, developing and delivering proteinbased treatments

Deep disease understanding

Efficient large-scale production of proteins

Pursue leadership in HAEMOPHILIA Expand leadership in GROWTH DISORDERS The Novo Nordisk Way

Planning and executing global launches of new products

Building and maintaining a leading position in emerging markets

Driving change to defeat diabetes and other serious chronic conditions

Investor presentation

Slide 23

First quarter of 2016

Novo Nordisk has leading positions in diabetes, haemophilia and growth disorders Diabetes DKK billion

Haemophilia

Market value Novo Nordisk value market share Global market position

500

#1

50%

DKK billion 70

40%

300

30%

40

200

20%

30

CAGR1 value: 17.1%

100 0

Feb 2011

CAGR for 5-year period Source: IMS MAT February, 2016 value figures 1

Feb 2016

50

20 10% 0%

#2

60

400

Growth disorders

Market value Novo Nordisk value market share Global market position

CAGR1 value: 4.6%

10 0

FY 2011

FY 2015

DKK billion

Market value Novo Nordisk value market share Global market position

40%

32

35%

28

30%

24

30%

25%

20

25%

20%

16

20%

15%

12

10%

8

5%

4

0%

0

Note: Annual sales figures for Haemophilia A, B and inhibitor segment 1 CAGR for 5-year period Source: Company reports

35%

CAGR1 value: 3.1%

15% 10% 5%

Feb 2011

CAGR for 5-year period Source: IMS MAT February, 2016 value figures 1

40%

#1

Feb 2016

0%

Investor presentation

Slide 24

First quarter of 2016

Double digit top line growth driven by diabetes pandemic Novo Nordisk reported quarterly sales by therapy DKK billion 30

Diabetes Atlas 7th Edition projects that 642 million people will have diabetes by 2040

Diabetes and obesity Haemophilia2 Norditropin® Other Reported sales CAGR1: 11.8%

700

20

7.2%

500

15

13.0%

400

8.4%

300

12.5%

200

25

10

600

5 0

1 2

Million people

USA Region China

Europe Pacific International Operations 642

CAGR1: 7.0% 415

151

100 Q1 2006

Q1 2016

CAGR for 10-year period Haemophilia includes NovoSeven®, NovoThirteen® (as of Q1 2013) and NovoEight® (as of Q1 2014)

0

2000

2015

2040E

Note: 20-79 age group 1 CAGR for 15-year period Source: International Diabetes Federation: Diabetes Atlas 1st and 7th Edition, 2000 and 2015

Investor presentation

Slide 25

First quarter of 2016

Novo Nordisk has a strong leadership position within the growing diabetes care market Global diabetes care market by treatment class DKK billion

GLP-1

Insulin

Global diabetes care value market share OAD

400

Novo Nordisk

Sanofi

AstraZeneca

Novartis

30%

300 250

Injectables: CAGR1 20.1%

20%

CAGR1 18.5%

10%

Merck GSK 27%

Total market: CAGR1 15.2%

350

Eli Lilly Takeda

200 150 100 50 0

CAGR1 10.2% Feb 2006

CAGR for 10-year period Source: IMS Monthly MAT February, 2016 value figures

Feb 2016

0%

Feb 2006

1

Source: IMS Monthly MAT February, 2016 value figures

Feb 2016

Investor presentation

Slide 26

First quarter of 2016

Significant growth opportunities fuelled by strong R&D pipeline across all four strategic focus areas PHASE 1

PHASE 2

PHASE 3

SUBMITTED

APPROVED3

LAI287 – QW basal insulin

OI338GT – Oral insulin1

Semaglutide – QW GLP-1

Xultophy® (US)

Levemir®

OI320GT – Oral insulin

Semaglutide – QD GLP-1

OG217SC – Oral GLP-1

Faster-acting insulin aspart

NovoRapid®

NN9748 – PYY analogue

Anti-IL-21 and liraglutide

N8-GP – Long-acting rFVIII

N9-GP - Long-acting rFIX (EU)2

NovoMix®

NN1406 – Mealtime insulin

NN9709 – Dual agonist

Somapacitan – QW GH

G530L – Glucagon analogue

Semaglutide – QD GLP-1

Tresiba® Ryzodeg®

NN9838 – Amylin analogue

Xultophy® (EU)

NN9747 – PYY analogue

Victoza®

NN7415 – Concizumab

Saxenda® NovoSeven® NovoEight® NovoThirteen® Norditropin®

1 2 3

Diabetes

Haemophilia

Obesity

Growth disorders

Phase 2a proof-of-principle trial initiated in June 2015 Submitted to the to the European Medicines Agency in January 2016; Submission with the US Food and Drug Administration expected H1 2016 Approved in all triad markets (US, EU and Japan), unless noted

Investor presentation

Slide 27

First quarter of 2016

Growth opportunities supported by strong global presence in both sales and manufacturing Global manufacturing setup

FTEs in sales regions1 USA:

West Lebanon, NH, USA (~120)2

Europe:

~2,800

Kaluga, Russia (~200 FTEs)

Denmark (~9,400 FTEs)

~5,100 Biopharmaceutical API production

• • • •

Diabetes and biopharmaceutical API production Filling Moulding and assembly Packaging

• • •

Filling Assembly Packaging

Koriyama, Japan (~70 FTEs)

International Operations:

~5,300

Pacific:

~1,400

Region China: Total non-HQ/manufacturing FTEs:

1 2

~2,900 17,5001

Packaging

•

Clayton, NC, USA (~790 FTEs) • • • •

Diabetes API production Filling Assembly Packaging of above

Chartres, France (~1,100 FTEs) • • •

Filling Assembly Packaging

Montes Claros, Brazil (~910 FTEs) • • •

Filling Assembly Packaging

FTEs represent full-time employee equivalents in Novo Nordisk’s sales regions (excludes a.o. employees in headquarter, research sites and manufacturing sites) as of 31 March 2016 New Hampshire facility is currently under establishment

Tianjin, China (~1,000 FTEs) • • •

Filling Moulding and Assembly Packaging

Investor presentation

First quarter of 2016

High barriers to entry in biologics Novo Nordisk’s position is protected by patents and value chain setup Patent protection1

Unique value chain position

EU/US0

Research & Development

202922 2028/292

Manufacturing

2028/292

Commercialisation

exp 2015/1732

20234/2352

•

History of protein engineering

•

Highly efficient, flexible and capital intensive manufacturing

•

Global commercial footprint

2017/173 exp/exp

Research & Development • • •

Need to show comparability in PK/PD trials Strict regulatory requirements in EU and US Requirement for both drug and device offering

Manufacturing

2018/192

20173/173

Significant barriers to entry for biosimilar players

List is not exhaustive of all marketed Novo Nordisk products. 2 Protected by patents on the individual compounds insulin degludec and liraglutide as listed. 3 Formulation patent expiration year 4 Assuming paediatric extension 5 Saxenda patent identical to the Victoza® patent Source: Novo Nordisk

• •

Significant economies of scale with incumbents Significant up-front CAPEX requirements with slow return on investment

Commercialisation • • •

Large and fragmented target audience Cost pressure from payers On-going conversion to next generation drugs and slow market dynamics

1

PK: Pharmacokinetic, PD: Pharmacodynamic; CAPEX: Capital expenditure

Slide 28

Investor presentation

Diabetes and obesity

First quarter of 2016

Slide 29

Investor presentation

Slide 30

First quarter of 2016

Diabetes – the inability to manage blood sugar levels appropriately Facts about diabetes

Insulin secretion profile

Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin it produces1

Type 1 diabetes: Complete insulin deficiency due to destruction of beta-cells in the pancreas Type 2 diabetes: Characterised by some degree of insulin resistance and insulin deficiency

60 Insulin (µ U/ mL)

Primary classifications2:

70

50 40 3 0 20 10 0 6:00

10:00

14:00

18:00

22:00

2:00

6:00 Time of day

Breakfast Diabetes fact sheet N˚312, WHO, October 2013 2 Polonsky et al. J Clin Invest 1988;81:442–48 1

Lunch

Dinner

Investor presentation

Slide 31

First quarter of 2016

Insulin – a hormone enabling blood sugar to enter cells Insulin enables glucose to become energy

The aim of insulin therapy is to recreate normal blood insulin profile 70

• Facilitates uptake of blood sugar into cells

Fat cell

Insulin (µ U/ mL)

60

• Inhibits glucose release from the liver

Liver

Short-lived, rapidly generated meal-related peaks (prandial)

50 40 3 0 20

Sustained Insulin profile (basal)

10

Pancreas Muscle

0 6:00

10:00

14:00

18:00

22:00

2:00

6:00 Time of day

Breakfast Polonsky et al. J Clin Invest 1988;81:442–48

Lunch

Dinner

Investor presentation

Slide 32

First quarter of 2016

Diabetes pandemic is fuelled by growing rates of obesity US CDC data on obesity and diabetes prevalence among adults 1994

2000

2013

Obesity prevalence (BMI ≥30 kg/m2)

No Data

26.0%

No Data

9.0%

Diabetes prevalence

CDC: Centers for Disease Control and Prevention Source: CDC’s Division of Diabetes Translation. National Diabetes Surveillance System available at http://www.cdc.gov/diabetes

Investor presentation

Slide 33

First quarter of 2016

Poor diagnosis rates, lack of access to optimal treatment and poor glycaemic control remain global problems Diagnosis and optimal treatment remains a challenge – the rule of halves

The worldwide challenge of glycaemic control: Mean HbA1C in type 2 diabetes

100% All people with diabetes

Canada US Latin America

Germany Greece Italy Poland Portugal Romania Spain Sweden Turkey UK

50% 50% are diagnosed

50% have access to care

China India Japan Korea Russia

7.31 7.2%2 7.6%3

25% 12%

50% get decent care 50% 50%reach reachtarget target

7.2-9.5%4 7.3-9.3%4 7.3–7.7%5 7.9–8.7%6 7.2-9.5%4

6.7-9.2%7 7.1–9.7%7,8,4 7.7-8.3%4 7.3-8.9%4 7.9-9.7%7 7.9-9.9%7 7.6-9.2%8 7.4-8.7%7 7.6-10.6%7 7.4-8.7%9

Harris et al. Diabetes Res Clin Pract 2005;70:90–7; 2 Hoerger et.al. Diabetes Care 2008;31:81–6; 3 Lopez Stewart et al. Rev Panam Salud Publica 2007;22:12–20; 4 Valensi et al. Int J Clin Pract 2009;63(3):522-31; 5 Arai et al. J Diabetes Investig. 2012 Aug 20;3(4):396-401; 6 Ko et al. Diab Med 2007;24:55–62; 7 Oguz et al. Curr Med Res Opin 2013;29:911–20; 8 Liebl et al. Diab Ther 2012;3:e1–10; 9 Blak et al. Diab Med 2012;29:e13-20 1

Investor presentation

Slide 34

First quarter of 2016

UKPDS: Tight glycaemic control reduces risk of micro- and macrovascular complications Risk reduction by lowering HbA1c by 1%-point

Incidence risk (%)

0

Diabetesrelated death

Myocardial Microvascular infarction complications

Peripheral vascular disease

Relative risk reduction of intensive vs. conventional treatment (%) SU/Insulin SU/Insulin treated patients

–10 –14%

–20 –21%* –30 –40 –50

UKPDS 10 year follow-up: Legacy effect of tight glycaemic control

–37%* *p