11 November 2011, Lysaker, Norway: Pronova BioPharma today announced results for the third quarter and first nine months of 2011. Third quarter revenues were NOK 392.5 million, up 10.1 percent from last year, and revenues in the first nine months were NOK 1 224.6 million (NOK 1 255.6 million). EBITDA was NOK 180 million in the third quarter, up 33.1 percent year-on-year, and was NOK 508.2 million (NOK 497.7 million) in the first nine months of 2011. End-user demand in Pronova BioPhar­ma's current eight largest markets, as measured by IMS, increased by 7 percent in the first nine months of 2011, pushing moving annual total volumes to 1 276 tonnes. This represents USD 1 374 billion in drug sales, with Omacor®/Lovaza(TM) reinforcing its status as a blockbuster product. End-user demand continued to grow despite economic pressures in the US and weak public finances in Europe.

Pronova BioPharma maintains its outlook for 2011, with shipments below underlying demand. Supply prices are expected to increase by 10-20 percent in 2011 compared to 2010.

Pronova BioPharma has previously communicated its objec­tive of increasing the robustness of the business and creating new sources of growth. As part of this objective, the company announced today a strategic decision to move into the fast-growth omega-3 consumer healthcare market with the creation of a con­sumer healthcare division. This will leverage the group's existing infrastructure and position as the world's pre-eminent manufac­turer of the highest-grade omega-3-based products (see separate announcement).

Pronova BioPharma's pipeline also continued to make progress in the third quarter, with the start of a Phase I trial of PRC-4016, a new chemical entity for the treatment of combined dyslipidemia. The cardiovascular market is the largest pharmaceutical market segment and dyslipidemia has been shown to play an important role in the development of cardiovascular risk.

The drug is a structurally modified omega-3 fatty acid, which has been shown to have potent triglyceride and bad (non-HDL) cho­lesterol lowering effects while raising good (HDL) cholesterol in pre-clinical studies. The trial is a double-blind, placebo-controlled, single and multiple oral dose study to investigate the safety, toler­ability and pharmacokinetics of PRC-4016. The study, conducted in healthy volunteers, is being performed in the UK. Results are expected in the first quarter of 2012.

Pronova BioPharma and its partners continued to make significant progress towards moving into new markets during the third quarter. In 2005, Takeda and Pronova BioPharma entered into a License- and Supply Agreement in which Takeda was granted the exclusive development and marketing rights to the product in Japan. In Sep­tember, Pronova BioPharma's partner Takeda submitted a New Drug Application (NDA) to the Ministry of Health, Labour and Welfare for TAK-085 for the treatment of hyperlipidemia. Approval and launch is anticipated in 2012/2013. Pronova BioPharma's partner in Latin America, Grupo Ferrer, also received marketing authorisation for Omacor® in Brazil in September. Brazil is the largest pharma mar­ket in South America, accounting for 39 percent of the market in this high-growth region. The market launch of Omacor® in Brazil is planned in H1 2012.

Pronova BioPharma continues to defend its intellectual property rights in the US through the lawsuits against Teva and Par regard­ing infringement of the company's patents relating to Lovaza(TM). A ruling is expected, at the earliest, in Q4 2011. 27 months post patent expiry in most European markets, no generic entry has been identified.

Pronova BioPharma's Chief Executive Officer Morten Jurs com­mented, "We made important progress towards our stated strategic goals of increasing diversification and creating new sources of growth in the quarter. The new omega-3 consumer health business will be synergistic with our existing pharmaceutical business and provide a new source of growth and profitability. We also made further progress in developing our pharmaceutical pipeline and entering new geographical markets."

The complete third quarter report is available at www.newsweb.no and at www.pronova.com. The company will present the results today at 08:30AM CET/07:30 GMT. The presentation will be webcast live and can be accessed at www.pronova.com. (Internet explorer web browser needed). Webcast attendees may send questions electronically during the session.

For further information, please contact:

Hamed Brodersen, Vice President IR and Communications

+ 47 40 46 81 10

Synne H. Røine, CFO

+ 47 99 22 98 92