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Novo Nordisk A/S

Type	Publicly traded Aktieselskab
Traded as	OMX: NOVO B, NYSE: NVO
Industry	Pharmaceuticals, health care
Founded	1923
Headquarters	Bagsværd, Denmark
Key people	Sten Scheibye (Chairman), Lars Rebien Sørensen (President and CEO), Jesper Brandgaard (CFO)
Products	Activella, Novolin, Levemir, NovoSeven
Revenue	DKK 60.8 billion (2010)[1]
Operating income	DKK 18.89 billion (2010)[1]
Profit	DKK 14.40 billion (2010)[1]
Total assets	DKK 61.40 billion (end 2010)[1]
Total equity	DKK 36.97 billion (end 2010)[1]
Employees	30,480 (end 2010)[1]
Website	www.novonordisk.com

Novo Nordisk manufactures and markets pharmaceutical products and services and was created in 1989 through a merger of two Danish companies dating back to the 1920s. It produces, in particular, diabetes care equipment and medications. Novo Nordisk is also involved with haemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk is researching pulmonary delivery systems for diabetic medications, and in the early stages of research into autoimmune and chronic inflammatory diseases, using technologies such as translational immunology and monoclonal antibodies ^[2]

Company headquarters are in Denmark, with production facilities in seven countries, and affiliates or offices in 76 countries. It employed approximately 29,000 people globally as of Q4 2009, and marketed its products in 179 countries. It is the largest publicly traded company in the Nordic countries by market capitalization.^[3]

Novo Nordisk is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA).^[4]

The company was ranked 25th among 100 best companies to work for in 2010 by Fortune.^[5] In January 2012, Novo Nordisk was named as the most sustainable company in the world by the business magazine Corporate Knights.

Collaborative research [edit]

Toxicogenomics [edit]

Novo Nordisk is involved in publicly funded collaborative research projects with other industrial and academic partners. One example in the area of non-clinical safety assessment is the InnoMed PredTox.^[6][7] The company is expanding its activities in joint research projects within the framework of the Innovative Medicines Initiative of EFPIA and the European Commission.^[8]

Diabetes [edit]

Novo Nordisk founded the World Diabetes foundation^[9] to save the lives of those affected by diabetes in developing countries and supported a UN resolution to fight diabetes, making diabetes the only other disease alongside HIV / AIDS to have a commitment to combat at a UN level.

Additional research [edit]

Inflammation [edit]

Novo Nordisk is developing immunotherapies to combat chronic inflammatory diseases including rheumatoid arthritis, lupus, inflammatory bowel disease, and psoriatic arthritis.^[10] A Seattle-based branch was opened as of September 2009 with the goal of applying Novo Nordisk’s background in the field of proteins to inflammation research.^[11] Crohn's disease, for example, is an inflammatory bowel disease that Novo Nordisk is attempting to target with NN8555, an Anti-NKG2D monoclonal antibody that targets natural killer cells.^[12] NN8555 is currently undergoing phase II clinical trials.^[13]

Translational immunology [edit]

Translational immunology is a technology that involves testing a drug candidate ex vivo within human tissue samples before the drug enters into human trials. This process allows researchers to directly assess human immune responses.^[14] Not all of the data found in mouse models can be directly translated to humans. Because of this, translational immunology is used by Novo Nordisk as a step in testing the safety and efficacy of their candidate drugs prior to entering phase one clinical trials.^[15]

Pharmaceutical brands [edit]

Levemir [edit]

Levemir is the company brand name for insulin detemir [recombinant DNA origin]. It is a long-acting injectable insulin analog.^[16]

NovoLog/NovoRapid [edit]

NovoLog is the company brand name for insulin aspart, a rapid-acting soluble insulin for injection. It has a substituted aspartic acid for proline on B28 .^[16]

NovoLog Mix 70/30 [edit]

Novolog mix is a 70% insulin aspart protamine suspension and 30% insulin aspart for injection.^[16]

Novolin R [edit]

Novolin R is the company brand name for regular insulin.

NovoSeven [edit]

NovoSeven is a recombinant factor VII. It is a vitamin K-dependent gycosylated serine protease proenzyme. It is used in the treatment of hemophilia in cases of bleeding episodes or prevention of bleeding in surgical intervention. NovoSeven is intended for intravenous bolus injection.^[17]

Norditropin [edit]

Norditropin is a brand name for somatropin, a polypeptide hormone of recombinant DNA origin. It contains the identical sequence of 191 amino acids in naturally occurring pituitary human growth hormone (hGH).

Victoza [edit]

Logo [edit]

The Novo Nordisk logo since the year after the company’s foundation has been the Apis bull, one of the sacred animals of ancient Egypt. The Apis bull was worshipped as the incarnation of Ptah, creator of the universe, city god of Memphis and the patron deity of craftsmen. The logo is a stylised reproduction of an Egyptian statuette dating from circa 664–323 BC. It is ornamented with symbols representing, among other things, the dualities of life, day and night, life and death. The choice of the logo follows an old European chemists' tradition of identifying pharmacies by an animal symbol.

Unite for Diabetes [edit]

Novo Nordisk have sponsored the International Diabetes Federation's Unite for Diabetes campaign — one of many campaigns that helped to successfully pass UN Resolution 61/225, making November 14 World Diabetes Day.^[18]

The company has also inaugurated the Novo Nordisk Changing Diabetes World Tour — a truck that folds out into an educational and awareness-developing bus. The vehicle was launched in Copenhagen in September 2005 and has visited Europe, Africa, Australia, Asia, the Indian subcontinent and the United States. The bus journey culminated in being stationed in New York City for the inaugural World Diabetes Day on November 14, 2007.^[19]

Victoza controversy [edit]

In 2010 Novo Nordisk breached the ABPIs code of conduct by failing to provide information about side-effects of Victoza and by promoting Victoza prior to being granted market authorization.^[20]

Transfer mispricing controversy [edit]

In 2013 Novo Nordisk had to pay back DKK 3.6 billion to the danish tax authorities due to transfer mispricing.^[21]

Timeline [edit]

Novo Nordisk was created in 1989 through a merger between two Danish companies – Novo Industri A/S and Nordisk Gentofte A/S.

• 1923 Nordisk Insulinlaboratorium (later Nordisk Gentofte) founded by Hans Christian Hagedorn.^[22]
• 1925 Novo Terapeutisk Laboratorium (later Novo Industri) founded.
• 1932 Nordisk Insulinlaboratorium founds the Steno Memorial Hospital.
• 1938 Novo founds Hvidøre Diabetes Sanatorium.
• 1941 Novo launches its first enzyme, trypsin, extracted from the pancreas of animals and used for bating leather before tanning.
• 1946 Nordisk develops isophane insulin, branded as Neutral Protamine Haegdorn or NPH insulin, a neutral insulin with prolonged action.
• 1947 Penicillin Novo is launched – Novo's first product to be manufactured through fermentation.
• 1953 Lente – a long-acting insulin zinc suspension – is launched.
• 1963 Alcalase – Novo's first detergent enzyme produced by fermentation.
• 1973 Nordisk Gentofte markets Nanormon growth hormone for the treatment of growth hormone insufficiency. The growth hormone is extracted from human pituitary glands.
• 1973 Monocomponent (MC) insulin is introduced – the purest insulin available at the time.
• 1974 Novo's B shares are quoted on the Copenhagen Stock Exchange.
• 1977 Trisequens – sequential combined oral hormone replacement therapy (HRT) for peri-menopausal women – is marketed.
• 1977 Novo enters the U.S. insulin market, but based on market share data, the company was a very marginal player.
• 1978 In an effort to alleviate its product and quality problems in the U.S. insulin market, E.R. Squibb & Sons contracts with Novo. Novo becomes the single bulk supplier of insulin for Squibb.
• 1981 Novo becomes the first company in Scandinavia to be quoted on the New York Stock Exchange.
• 1982 Novo enters into a 50/50 U.S. joint venture with E.R. Squibb & Sons, known as Squibb-Novo, based in Princeton, NJ. Squibb-Novo became the distributor for Novo insulin sold in the U.S. market, with Novo focused on producing insulin, and Squibb focused on distributing and selling the product. The joint venture is able to significantly increase Novo's U.S. market share.
• 1982 'Human' Monocomponent insulin is launched in the U.S. – the world's first insulin preparation which is structurally identical to human insulin. It is extracted from the pancreas of pigs and converted to human insulin chemically.
• 1983 Novo Industri A/S enters a joint venture with Canada's Connaught Laboratories, considered to be the birthplace of insulin. Under the terms of the agreement, Novo agreed to manufacture insulin in Canada for distribution by Connaught. Novo Laboratories Ltd. agreed to lease, modernize and operate Connaught's insulin production facilities. Another subsidiary company, Connaught-Novo, was jointly owned by both parent companies. Connought Laboratories was privatized by the Mulroney government in 1985.
• 1985 NovoPen – an injection system similar in appearance to a fountain pen, with replaceable insulin cartridges – is launched.
• 1987 Novo starts production of biosynthetic human insulin with the help of genetically engineered yeast cells using recombinant DNA technology.
• 1988 Nordisk Gentofte markets Norditropin genetically engineered human growth hormone.
• 1989 Novo Industri A/S and Nordisk Gentofte A/S merge to become Novo Nordisk A/S, the world's leading producer of insulin.
• 1989 Following the merger of Novo and Nordisk, and the merger of Bristol-Myers and E.R. Squibb & Sons in the U.S., the Squibb-Novo joint venture in the U.S. market was dissolved. Novo purchased Squibb's 50% share and all rights to the joint U.S. diabetes care business.
• 1989 NovoLet – the world's first prefilled insulin syringe – is marketed.
• 1992 The Steno Memorial Hospital and Hvidøre Hospital merge to form the Steno Diabetes Center.
• 1994 Novo Nordisk Canada Inc. and Connaught Laboratories Ltd. announced a distribution agreement, which replaced their joint venture which was known as Connaught Novo Nordisk Inc. Under the terms of the agreement, Connaught received a financial consideration and a percentage fee for distribution services related to Novo Nordisk Canada's diabetes care products. Connaught continued to distribute Novo Nordisk Canada's diabetes products in Canada and Bermuda.
• 1996 NovoSeven – for the treatment of haemophilia patients with inhibitor reaction – is launched.
• 1998 NovoNorm/Prandin, a new oral treatment for type 2 diabetes, is launched in the US and a number of European countries.
• 1998 Activelle – the first low-dose continuous combined oral HRT for post-menopausal women – is introduced.
• 1999 Novo Nordisk publishes its first social report.
• 1999 Christian Karsten Hansen and Jan Møller Mikkelsen leave Novo Nordisk to found Profound Pharma A/S which is acquired by Maxygen in 2000.
• 1999 Innovo, the world's first insulin doser with a built-in electronic memory, is launched in Europe.
• 1999 Novorapid (Novolog in the U.S.) – a rapid-acting insulin analogue – is marketed.
• 1999 Norditropin SimpleXx – the world’s first liquid growth hormone in a dedicated pen system – is launched.
• 2000 Novofem, a low-dose sequential combined oral HRT, is marketed in Germany. Two years later it is launched in several other European countries.
• 2000 Novo Nordisk is split into three separate companies operating under the umbrella of the Novo Group: Novo Nordisk A/S, Novozymes A/S and Novo A/S.
• 2001 InnoLet – the first insulin delivery system specially designed to suit the needs of insulin users with poor eyesight and reduced dexterity – is launched.
• 2001 InDuo – the world's first combined blood glucose monitor and insulin injection system – is introduced.
• 2001 NovoRapid/Novolog FlexPen and Insulatard (NPH) FlexPen are marketed. FlexPen is a new disposable, prefilled insulin pen dosage device.
• 2001 Novo Nordisk acquires the controlling interest in the Brazilian pharmaceutical company Biobrás, the dominant insulin manufacturer in Brazil.
• 2002 NovoMix 30 FlexPen and NovoMix Penfill are introduced. NovoMix 30 is a dual-release insulin analogue.
• 2004 Levemir – a long-acting insulin analogue – is launched.
• 2005 Novo Nordisk announced that the company had moved into a leadership position in the U.S. insulin market for the first time ever based on the most recent data on total insulin volume.^[23]
• 2008 Novo Nordisk Canada Inc. was named one of Greater Toronto's Top Employers by Mediacorp Canada Inc. in October, which was announced by the Toronto Star newspaper.^[24]
• 2009 Novo Nordisk was named as an ethical leader of international business by think-tank Ethisphere.^[25]
• 2009 Novo Nordisk agrees to pay a $9 Million fine in connection with the payment of $1.4 million in kickbacks through the United Nations Oil-for-food Program.^[26]
• 2010 Victoza - the first once-daily human glucagon-like peptide-1 (GLP-1) analog for the treatment of type 2 diabetes is approved for distribution in the US.^[27]
• 2010 Novo Nordisk pulls medicine from Greece due to price cuts triggered by the financial crisis in the country. The act caused uproar among diabetics and relatives.^[28]
• 2010 Novo Nordisk agreed to pay $25 million to the US government for illegally promoting its haemostasis management drug, NovoSeven.^[29]
• 2011 The Association of the British Pharmaceutical Industry reprimands Novo Nordisk for poor management due to breaching industry codes concerning various promotional efforts for its Victoza diabetes medicine.^[30]

See also [edit]

• NNIT (formerly Novo Nordisk IT)
• Repaglinide

References [edit]

External links [edit]

• Official website
• Novo A/S Website
• Novo Nordisk Foundation Website
• Zenopa.com

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