Zealand Pharma

Director's Dealing • Mar 19, 2012

Company Announcement No. 8/2012

Zealand Pharma A/S Announcement of transactions in the company's shares and related securities by executives and their related parties

Copenhagen, 19 March 2012 – Pursuant to the Danish Securities Trading Act, section 28a, Zealand Pharma A/S shall announce transactions in the company's shares and related securities by executives and persons/companies closely related to them.

Name:	Christian Grøndahl
Reason:	Executive Vice President and Chief Scientific Officer
Issuer:	Zealand Pharma A/S
Type	Shares
ISIN code:	DK0060257814
Transaction:	Sale
Trading date:	15 and 16 March 2012
Market:	NASDAQ OMX København A/S
Amount (number of	60,000
shares):
Price:	DKK 77.30
Market value:	DKK 4,638,080

In this regard, Zealand Pharma announces the following transaction:

Christian Grøndahl now owns 160,413 shares and 98,031 warrants in Zealand Pharma.

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For further information, please contact:

David Horn Solomon, President and Chief Executive Officer Tel: +45 2220 6300

Hanne Leth Hillman, Vice President for IR & Corporate Communication Tel: +45 5060 3689, email: hlh@zealandpharma.com

About Zealand Pharma

Zealand Pharma A/S is a public (NASDAQ OMX: ZEAL) biotechnology company based in Copenhagen, Denmark with a mature clinical pipeline of innovative peptide drugs. The company's lead invention is lixisenatide (Lyxumia® 1)), a oncedaily GLP-1 agonist licensed to Sanofi for the treatment of Type 2 diabetes. In October, Sanofi submitted a marketing

Announcement of transactions in the company's shares and related securities by executives and their related parties

authorization application (MAA) for lixisenatide in Europe and submission for regulatory approval in the United States is expected in Q4 2012. Zealand Pharma also has a collaboration with Boehringer Ingelheim covering dual acting glucagon/GLP-1 agonists, including ZP2929, for the treatment of diabetes and obesity, and a license agreement with Helsinn Healthcare on elsiglutide, a clinical stage GLP-2 drug for the prevention of chemotherapy-induced diarrhea.

Zealand Pharma specializes in the discovery, optimization and development of novel peptide drugs, and all drug candidates in its pipeline have been identified through the company's own drug discovery activities. Zealand Pharma's products target disease areas where existing treatments fail to adequately serve patient needs and where the market potential for improved treatments through the use of peptide drugs is high.

For further information: www.zealandpharma.com.

Note 1) Lyxumia® is the intended trademark for lixisenatide. Lixisenatide is not currently approved or licensed anywhere in the world.