Company Announcement                                                            
No. 12/2010                                                                     
9 December 2010                                                                 

Registration of capital increase completed

With reference to company announcement no. 11/2010, Zealand Pharma A/S hereby
announces that updated Articles of Association and the capital increase of
852,407 new shares with a nominal value of DKK 1 each has been registered with
the Danish Commerce and Companies Agency on 9 December 2010. 

Following registration of the new shares, the share capital of Zealand Pharma
A/S is nominal DKK 22,870,523 divided into 22,870,523 shares with a nominal
value of DKK 1 each. 

Each share of nominal DKK 1 carries one vote at general meetings in Zealand
Pharma A/S. 

The new shares are expected to be admitted to trading and official listing on
NASDAQ OMX Copenhagen on 15 December 2010 under the same identification code as
the 
Company's existing shares (ISIN: DK0060257814). 

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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.