Zealand Pharma

Director's Dealing • Dec 9, 2010

Company Announcement
No. 13/2010
9 December 2010

Reporting of transactions in shares by executive employees in Zealand Pharma A/S

Reporting of transactions in shares by executive employees in Zealand Pharma
A/S pursuant to section 28a of the Securities Trading Act.

Zealand Pharma A/S has received information on the below transactions:

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| Name | Christian Thorkildsen |

| Reason | Member of the Board of Directors |
| | (Elected by the employees) |

---

| Issuer | Zealand Pharma A/S |

| ISIN Code | DK0060257814 |

| Type | Shares |

| Transaction | Obtained shares in Zealand Pharma A/S |
| | as consideration for exercise of |
| | warrants |

---

| Date | 9 December 2010 |

| Market | NASDAQ OMX Copenhagen |

| Number of traded securities | 12,145 |

| Market value in DKK | DKK 319,623 |

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| Name | Helle Størum |

| Reason | Member of the Board of Directors |
| | (Elected by the employees) |

---

| Issuer | Zealand Pharma A/S |

| ISIN Code | DK0060257814 |

| Type | Shares |

| Transaction | Obtained shares in Zealand Pharma A/S |
| | as consideration for exercise of |
| | warrants |

---

| Date | 9 December 2010 |

| Market | NASDAQ OMX Copenhagen |

| Number of traded securities | 2,000 |

| Market value in DKK | DKK 52,634 |

---

| Name | Mats Blom |

| Reason | Vice President and Chief Financial |
| | Officer |

---

| Issuer | Zealand Pharma A/S |

| ISIN Code | DK0060257814 |

| Type | Shares |

| Transaction | Obtained shares in Zealand Pharma A/S |
| | as consideration for exercise of |
| | warrants |

---

| Date | 9 December 2010 |

| Market | NASDAQ OMX Copenhagen |

| Number of traded securities | 113,205 |

| Market value in DKK | DKK 3,038,318 |

---

| Name | Christian Grøndahl |

| Reason | Vice President and Chief Scientific |
| | Officer |

---

| Issuer | Zealand Pharma A/S |

| ISIN Code | DK0060257814 |

| Type | Shares |

| Transaction | Obtained shares in Zealand Pharma A/S |
| | as consideration for exercise of |
| | warrants |

---

| Date | 9 December 2010 |

| Market | NASDAQ OMX Copenhagen |

| Number of traded securities | 226,413 |

| Market value in DKK | DKK 6,076,717 |

---

| Name | John Hyttel |

| Reason | Senior Vice President for Operations |

| Issuer | Zealand Pharma A/S |

| ISIN Code | DK0060257814 |

| Type | Shares |

| Transaction | Obtained shares in Zealand Pharma A/S |
| | as consideration for exercise of |
| | warrants |

---

| Date | 9 December 2010 |

| Market | NASDAQ OMX Copenhagen |

| Number of traded securities | 95,981 |

| Market value in DKK | DKK 2,565,337 |

                                 # # #

For further information, please contact:

Zealand Pharma A/S
David Solomon, President and Chief Executive Officer
Tel: +45 4328 1200

M:Communications
Mary-Jane Elliott / Emma Thompson / Amber Bielecka
Tel: +44(0) 20 7920 2330

About Zealand Pharma A/S
Zealand Pharma is a Danish biopharmaceutical company dedicated to the discovery
and development of innovative peptide drugs. The Company targets diseases where
it believes existing treatments fail to adequately serve the medical needs of
patients and the market potential for improved treatments through the use of
peptide drugs is high.

Zealand Pharma focuses on three therapeutic areas: metabolic (diabetes and
obesity), gastrointestinal and cardiovascular diseases. The Company's expertise
in peptide discovery, optimization and development has resulted in a strong and
growing pipeline of novel peptide drug candidates with favourable therapeutic
attributes.

Since 1999, Zealand Pharma's scientists have built a pipeline that includes
five compounds in clinical development, four of which have been out licensed,
two of these with major pharmaceutical companies (sanofi-aventis and Helsinn
Healthcare). All of Zealand Pharma's compounds emerged from the Company's own
drug discovery.

Zealand Pharma is based in Copenhagen. For more information please visit the
Company's web site: www.zealandpharma.com.