Zealand Pharma

Earnings Release • Jul 31, 2017

Company announcement – No. 27/2017

Zealand reports royalty revenue for the second quarter of 2017

• Zealand reports royalty revenue of DKK 9.1 million in Q2 2017
• The revenue is based on total net sales of of Lyxumia®/Adlyxin™ and Suliqua®/Soliqua® 100/33 of DKK 91.4 million in Q2 2017

Copenhagen, July 31, 2017 – Zealand Pharma ("Zealand") reports Q2 2017 royalty revenue from Sanofi's sales of Lyxumia®/Adlyxin™ (lixisenatide) of DKK 5.2 million and from Suliqua®/Soliqua® 100/33 of DKK 3.9 million. Total royalty revenue for H1 2017 amounted to DKK 17.2 million.

Lixisenatide is a once-daily prandial GLP-1 receptor agonist for the treatment of patients with type 2 diabetes and was invented by Zealand. Zealand licensed the global development and commercialization rights to lixisenatide to Sanofi. Lixisenatide is marketed under the brand name Lyxumia® in over 45 countries and was launched in the United States under the brand name Adlyxin™ in January 2017.

Sanofi has also developed a combination of lixisenatide and insulin glargine 100 units/mL (Lantus®), which was launched under the brand name Soliqua®100/33 in the United States in January 2017 and has been approved as Suliqua® in Europe and launched in the Netherlands in the second quarter of 2017.

Soliqua® 100/33 is approved in the United States as an adjunct therapy to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus inadequately controlled on basal insulin (less than 60 Units daily) or lixisenatide alone.

Zealand's Interim report for the first six months of 2017 will be published on August 24 2017 and will contain more information relating to the launch of Soliqua® 100/33.

For further information, please contact:

Britt Meelby Jensen, CEO and President Tel.: +45 51 67 61 28, e-mail: bmj@zealandpharma.com

Mats Blom, Executive Vice President, Chief Financial Officer Tel.: +45 31 53 79 73, e-mail: mabl@zealandpharma.com

About Zealand Pharma A/S

Zealand Pharma A/S (Nasdaq Copenhagen: ZEAL) ("Zealand") is a biotechnology company focused on the discovery, design and development of innovative peptide-based medicines. Zealand has a portfolio of medicines and product candidates under license collaborations with Sanofi, Boehringer Ingelheim and a pipeline of internal product candidates focusing on specialty gastrointestinal and metabolic diseases.

Zealand's first invented medicine, lixisenatide, a once-daily prandial GLP-1 receptor agonist for the treatment of type 2 diabetes, is licensed to Sanofi. Lixisenatide is marketed as Adlyxin® in the U.S. and as Lyxumia® in the rest of the world. Lixisenatide has been developed in a combination with basal insulin glargine (Lantus®) and is marketed as Soliqua® 100/33 in the U.S. and has been approved as Suliqua® in Europe and launched in the Netherlands.

Zealand's clinical pipeline includes: dasiglucagon* (ZP4207, single-dose rescue treatment) for acute, severe hypoglycemia (Phase 3); glepaglutide* (ZP1848) for short bowel syndrome (Phase 2); dasiglucagon* (ZP4207, multipledose version) intended for use in a dual-hormone artificial pancreas system to reduce the risk of hypoglycemia and better diabetes management (Phase 2) as well as for the treatment of congenital hyperinsulinism, and other earlier-stage clinical and preclinical peptide therapeutics.

Zealand is based in Copenhagen (Glostrup), Denmark. For further information about the Company's business and activities, please visit www.zealandpharma.com or follow Zealand on Twitter @ZealandPharma. * Dasiglucagon and glepaglutide are proposed International Nonproprietary Names (pINN).