100 Years of Novo Nordisk

Small Beginnings but We are Now Changing the World

 

Novo Nordisk is one of the world's leading healthcare companies with revenue of 25,513 million USD1 which has been driving change to save millions of lives. With its HQ in Denmark, Novo Nordisk now ranks second in terms of market capitalization among pharmaceutical companies in the world and occupies 32% of the Diabetes Care Market.1 Before 1921, diagnosis of diabetes in childhood was effectively a death sentence; many patients did not survive more than days to weeks. In 1922, August Krogh, professor at the University of Copenhagen, went on a lecture tour of universities on the east coast of the United States after receiving the Nobel Prize in Physiology in 1920. During this tour, his wife, Marie Krogh who was also diagnosed with diabetes persuaded the renowned Danish scientist to take a detour to Toronto, Canada, where scientists Frederick Banting, Charles Best and John Macleod had just succeeded in manufacturing active insulin. The outcome was that August Krogh received permission to manufacture insulin in the Nordic countries. This not only changed the lives of August and Marie Krogh but set in motion a century of innovation within protein-based treatments for people living with serious chronic diseases. Thus began the journey of Novo Nordisk in 1923.

 

From molecule to market, the focus is always on the patient when developing best-in-class treatments — the company has a history of transforming scientific ideas into life-saving medicines for patients. Using cutting edge technology in the field of gene therapy, cell therapy, RNA Interference therapy and leveraging artificial intelligence, Novo Nordisk is putting best effort to find the best possible solutions to treat serious & rare diseases. In the interest of innova- tion, the company also struck partnerships and started collaborating with leading academic institutions like Universities of Oxford & Toronto and Massachusetts Institute of Technology (MIT). In the recent past, Novo Nordisk has also acquired companies that are driving scientific research like Dicerna Pharmaceuticals, Forma Therapeutics, etc. In 2022, the organisation had invested 13.6% of its total revenue into research & development. Today Novo Nordisk has a transforma- tional portfolio of Medicines that are going through clinical trials. We truly embody “Innovation for Patients  - Thy name is Novo Nordisk”.

 

Combining Innovation and Commer- cial Excellence

 

Diabetes is a global burden and is often termed as an emergency in slow motion. Currently, there are 537 million* patients living with diabetes across the world. The last 100 years have witnessed Novo Nordisk pushing the boundaries of science & innovation to find the best solutions to treat diabetes and using the organization’s collective capabilities to tackle unmet needs in serious metabolic diseases, such as obesity, in rare blood, endocrine disorders as well as other major non-communicable diseases which account for 74% of death and disability globally

 

Triple Bottom Line Principle

In Novo Nordisk, the contributions towards a healthy economy, environment, and society are fundamental to long term business success. Therefore, the organiza-tions operate by taking social, financial, and environ-mental considerations into account when we make decisions and this is what we call the ‘The Triple Bottom Line'.

 

Pioneer of Sustainability

 

Novo Nordisk has adopted a Circular for Zero philoso- phy & is committed to reach Zero Emission across the  entire value chain by 2045. There is an interim target  set to achieve Zero CO₂ Emission from operators & transporters by 2030. Most of the Production facilities across the globe uses renewable power from wind, solar or hydro energy sources. In 2022 Novo Nordisk has reduced its carbon emission in operations & transport by 29%. Our Insulin pens are made of plastics which is a major environmental challenge. Thus, we have rolled out a take back program in Brazil, Thus, we have rolled out a take back program in Brazil, plans to extend this to other markets. The Kalundborg plant of Novo Nordisk in Denmark is one of the first & among the best sustainable initiatives in the world famously known as “Kalundborg Symbiosis” that  started with local farmers and then extended to other partners too and has reduced CO emissions by 586,000 tones between 2015-2020.

 

Access  to   Affordable  Care

Novo Nordisk not only provided world class medicine but also supported a holistic  approach to improve access to treatment & care. Some key initiatives are the establishment of two independent foundations - World Diabetes Foundation in 2002 & Haemophilia Foundation in 2005. Access to Insulin Commitment — through this, insulin  prices were capped to ensure affordability for humani- tarian organisations including UN agencies.

 

Changing Diabetes% in Children (CDiC) a project through which the organisation provides free Insulin to underprivileged type-I diabetes children across the Globe. Currently, the number is 41,033 children and organization is committed to reach 100,000 children by end of 2030.

 

The Steno Memorial Hospital - set up in Denmark in 1932 to support diabetes treatment and its research capabilities and activities became so renowned that the Steno Memorial Hospital became the largest and most important diabetes centre in Scandinavia and in 1992 it came to be known as Steno Diabetes Centre which is now internationally acclaimed for its holistic ways of treatment, research & Public-Private-Partner- ship model.During the Covid-19 pandemic, in 2020 & 2021 Novo Nordisk stepped up efforts and ensured uninterrupted supply of insulin to diabetic patients across the world.Pihu Kumari and her father. Pihu has type 1 diabetes and lives  in Bangalore, India Novo Nordisk is recognised as a sustainable employer and strongly advocates inclusion & diversity within its organisation. Percentage of women in Senior leader-Ship positions is 39% and aims to reach 45% by 2025.

 

Novo  Nordisk   Foundation 

 

A promise to invest profit for research led the founders    to create in 1932 Nordisk Insulin Foundation & in 1989 the Novo Nordisk Foundation was formed with a net worth of USD 94 billion. This is one of the world’s largest charitable organizations & awards grants to support work in human health, sustainability & the life science ecosystem. While in recent past the founda- tion has supported centre for COM research, stern cells and also the Pandemic Antiviral Discovery — which is in association with Open Philanthropy, Bill & Melinda Gates Foundation - aims to catalyse the discovery & prevention of future pandemics and the foundation has contributed USD 90 million so far.

 

 

Novo Nordisk in Bangladesh