Novo Nordisk: Difference between revisions

| logo = Novo Nordisk - Logo.svg

| logo_caption= The Novo Nordisk logo, a bull with a sun disk between his horns, is based on the Egyptian deity Apis.  

| image_caption = Headquarters in [[Bagsværd]], Denmark

| type = [[Public company|Public]]

| traded_as = {{ubl|class=nowrap|{{OMX|CSE1158|NOVO B}}|[[OMX Copenhagen 25]] component|{{nyse|NVO}}}}

| key_people = {{ubl|[[Helge Lund]] ([[Chairman]])|[[Lars Fruergaard Jørgensen]] (president and [[CEO]])}}

| industry = [[Pharmaceuticals]], [[Health care]]

| products = {{Hlist|[[Ozempic]]| [[Ryzodeg]]| [[Victoza]]| [[NovoEight]]| [[Activella]]| Novolin<!--intentional link to DAB page-->| [[Levemir]]| [[NovoSeven]]| [[Norditropin]]| [[Tresiba]]| [[Xultophy]]| [[NovoRapid]]| [[Fiasp]]| [[Saxenda]]}}

| hq_location_city = [[Bagsværd]]

| hq_location_country = [[Denmark]]

| owner = [[Novo Holdings A/S]] (28%)

'''Novo Nordisk A/S''' is a [[Denmark|Danish]] multinational [[pharmaceutical company]] headquartered in [[Bagsværd]] with production facilities in nine countries and affiliates or offices in five countries. Novo Nordisk is controlled by majority shareholder [[Novo Holdings A/S]] which holds approximately 28% of its shares and a [[majority]] (77%) of its voting shares.

Novo Nordisk manufactures and markets [[pharmaceutical]] products and services, specifically [[diabetes]] care medications and devices. Its main product is the drug [[semaglutide]], used to treat diabetes under the brand name Ozempic and obesity under the brand name Wegovy. Novo Nordisk is also involved with [[hemostasis]] management, [[growth hormone]] therapy, and [[Hormone replacement therapy (menopause)|hormone replacement therapy]]. The company makes several drugs under various brand names, including [[Levemir]], [[Tresiba]], [[NovoLog]], Novolin R, [[NovoSeven]], [[NovoEight]], and [[Victoza]].

Novo Nordisk employs more than 48,000 people globally, and markets its products in 168 countries. The corporation was created in 1989, through a merger of two Danish companies which date back to the 1920s. The Novo Nordisk logo is the [[Apis bull]], one of the sacred animals of [[ancient Egypt]]. Novo Nordisk is a full member of the [[European Federation of Pharmaceutical Industries and Associations]] (EFPIA).

The company was ranked 25th among the [[100 Best Companies to Work For]] in 2010 and 72nd in 2014 by ''[[Fortune (magazine)|Fortune]]''. In January 2012, Novo Nordisk was named the most sustainable company in the world by the business magazine ''[[Corporate Knights]],'' while spin-off company [[Novozymes]] was named fourth. Novo Nordisk is the largest pharmaceutical company in Denmark. Novo Nordisk's [[market capitalization]] exceeded the GDP of Denmark's [[economy of Denmark|domestic economy]] in 2023, and it is the highest valued pharmaceutical company in Europe.

Nordisk Insulinlaboratorium commercialises the production of insulin.

In 1986, Novo Industri A/S acquired the Ferrosan Group, now named as "Novo Nordisk Pharmatech A/S."

In 1989, Novo Industri A/S (Novo Terapeutisk Laboratorium) and Nordisk Gentofte A/S (Nordisk Insulinlaboratorium) merged to become Novo Nordisk A/S, the world's largest producer of insulin with headquarters in Bagsværd, [[Copenhagen]].

 

In 1994, Novo Nordisk's existing information technology units was spun out as [[NNIT|NNIT A/S]]. The company was converted into a wholly owned ''[[aktieselskab]]'' in 2004 In March 2015, NNIT was floated on the [[Nasdaq Nordic]].

Novo’s enzymes business, [[Novozymes|Novozymes A/S]], was spun-out in 2000.

[[Image:Novo Nordisk USA headquarters.jpg|thumb|right|Headquarters of Novo Nordisk USA, located in Plainsboro Township, New Jersey]]

Novo acquired [[Xellia]] for $700 million in 2013.

The same year, Novo Nordisk USA moved into new headquarters offices in [[Plainsboro Township, New Jersey]], by way of extensively renovating abandoned premises. This action served to consolidate several facilities that the company had previously had in Plainsboro.

In 2015, the company announced it would collaborate with [[Ablynx]], using its nanobody technology to develop at least one new drug candidate.

In January 2018, [[Reuters]] reported that Novo had offered to acquire Ablynx for $3.1 billion - having made an unreported offer in mid-December for the company. However, the Ablynx board rejected this offer the same day, explaining that the price undervalued the business. Ultimately  Novo lost out to [[Sanofi]] who bid $4.8 billion. Later, in the same year, the company announced it would acquire Ziylo for around $800 million.

In March 2020, Novo volunteers started testing samples for [[SARS-CoV-2]] with [[RT-qPCR]] equipment in the ongoing [[2020 coronavirus pandemic in Denmark|coronavirus pandemic]] to increase available test capacity. In June, the business announced it would acquire [[AstraZeneca]]'s spin-off Corvidia Therapeutics for an initial sum of $725 million (up to a performance-related maximum of $2.1 billion), boosting its presence in [[cardiovascular disease]]s. In November, the company announced it would acquire Emisphere Technologies for $1.8 billion, gaining control of a pill-based treatment for diabetes.

In November 2021, Novo announced it would acquire Dicerna Pharmaceuticals and its [[RNAi]] therapeutics, for $3.3 billion ($38.25 per share).

By 2022 the popularity of Novo's [[Wegovy]] and [[Ozempic]] for weight loss was so great as to significantly increase growth of the entire [[economy of Denmark]]. In fact, two-thirds of Denmark’s overall economic growth in 2022 was attributed to the pharmaceutical industry.

The company's profits increased by 45% year over year in the first half of 2023. In August 2023, Novo agreed to acquire the [[Montreal]]-headquartered pharmaceutical company, Inversago Pharma for $1 billion and Embark Biotech for up to $500 million. In October 2023, the company announced it would acquire ocedurenone—an experimental drug for uncontrolled hypertension and potentially beneficial in treating cardiovascular and kidney diseases—from KBP Biosciences for $1.3&nbsp;billion.

In February 2024, parent company [[Novo Holdings A/S]] agreed to acquire [[Catalent]] for $16.5{{nbsp}}billion. On completion, Novo Nordisk said it would acquire three manufacturing facilities from its parent for $11{{nbsp}}billion to scale up production to meet the demand of Wegovy and Ozempic.

Novo Nordisk is involved in government funded collaborative research projects with other industrial and governmental partners. One example in the area of [[Pre-clinical development|non-clinical]] safety assessment is the InnoMed PredTox. The company is expanding its activities in joint research projects within the framework of the [[Innovative Medicines Initiative]] of [[European Federation of Pharmaceutical Industries and Associations]] and the [[European Commission]].

[[Image:Novo Nordisk Kalundborg 20130729 003 (9720766202).jpg|thumb|right|upright|Novo Nordisk's largest manufacturing plant located in [[Kalundborg]], Denmark]]

Novo Nordisk founded the World Diabetes foundation to save the lives of those affected by diabetes in developing countries and supported a UN ([[United Nations]]) resolution to fight diabetes, making diabetes the only other disease along with [[HIV]] / [[AIDS]] that the UN has a commitment to combat.

Diabetic treatments account for 85% of Novo Nordisk’s business. Novo Nordisk works with doctors, nurses, and patients, to develop products for self-managing diabetes conditions. The DAWN (Diabetes Attitudes, Wishes and Needs) 2001 study was a global survey of the psychosocial aspects of living with diabetes. It involved over 5,000 people with diabetes and almost 4,000 care providers. This study was designed to identify barriers to optimal health and quality of life. A follow-up study completed in 2012 involved more than 15,000 people living with, or caring for, those with diabetes. In response to British findings, a National Action Plan (NAP) was developed, with a multidisciplinary steering committee, to support the delivery of individualised person-focused care in the United Kingdom. The NAP seeks to provide a holistic approach to a diabetic treatment for patients and their families.

The i3-diabetes programme is a collaboration between the [[King's Health Partners]], one of only six [[Academic health science centre|Academic Health Sciences Centres]] (AHSCs) in England, and Novo Nordisk. The programme is a five-year collaboration designed to deliver personalised care that will lead to improved outcomes for people living with diabetes, and more efficient and effective ways of caring for people with diabetes.

Novo Nordisk have sponsored the [[International Diabetes Federation]]'s Unite for Diabetes campaign.

In March 2014, Novo Nordisk announced a partnership program entitled ‘Cities Changing Diabetes,’ which entails combating urban diabetes. Partnership includes [[University College London]] (UCL) and supported by [[Steno Diabetes Center]], as well as a range of local partners including healthcare professionals, city authorities, urban planners, businesses, academics and community leaders.

 

In September 2023, Novo Nordisk and [[UNICEF]] announced a multi-year expansion of their collaboration to address childhood overweight and obesity.

 

In 2010, Novo Nordisk breached the code of conduct for [[Association of the British Pharmaceutical Industry]] (ABPI), by failing to provide information about side-effects of [[Victoza]] and by promoting [[Victoza]] prior to being granted market authorisation.

In 2013, Novo Nordisk had to pay back {{DKK|3.6|link=yes}}{{nbsp}}billion to the [[SKAT (tax agency)|Danish tax authorities]] due to transfer mispricing.

In March 2013, a debate emerged in which scientists questioned whether the incretin class of diabetic medications – the class to which [[Victoza]] belongs – had an increased risk of side effects in the pancreas such as pancreatitis and pancreatic cancer. It was concluded that data currently available did not confirm these concerns.

In September 2017, Novo Nordisk agreed to pay $58.7 million to end a [[United States Department of Justice]] probe into the lack of FDA disclosure to doctors about the cancer risk for their diabetic drug, Victoza.

In March 2023, Novo Nordisk was suspended from the ABPI for a period of two years, for engaging in misleading marketing practices that amounted to "bribing health professionals with inducement to prescribe". This is only the eighth time in the last 40 years that ABPI sanctioned a member organization. Due to this, the [[Royal College of General Practitioners]] ended their corporate partnerships as it would be in breach of their ethical guidance. The Novo Nordisk General Manager of the UK, Pinder Sahota, chose to resign as President of the ABPI prior to the suspension.

[[File:Charlie Kimball - 2015 500 Festival Parade - Sarah Stierch.jpg|thumbnail|upright|Charlie Kimball at the [[2015 Indianapolis 500]]]]

Novo Nordisk has sponsored athletes with diabetes, such as [[Charlie Kimball]] in auto racing and [[Team Novo Nordisk]] in road cycling.

As of the 2010s, [[Anthony Anderson]] (star of ''[[Black-ish]]'') serves as a pitchman for Novo Nordisk, and featured in the company's television advertisements which aired in the [[United States|US]].

* {{official website|http://www.novonordisk.com}}