Novo Nordisk

Novo Nordisk A/S
Publicly traded Aktieselskab
Traded as OMX: NOVO B
NYSE: NVO
Industry Pharmaceuticals, health care
Founded 1923
Headquarters Bagsværd, Denmark
Key people

Lars Rebien Sørensen (Management President and CEO)
Kåre Schultz (Management COO)
Jesper Brandgaard (Management CFO)
Göran Ando (Board Chairman)
Jeppe Christiansen (Board Vice Chairman)

Henrik Gürtler (Board President and CEO)
Products Ryzodeg, Victoza, NovoEight, Activella, Novolin,
Levemir, NovoSeven, Norditropin, Tresiba
Revenue DKK 83.57 billion (2013)[1]
DKK 31.49 billion (2013)[1]
Profit DKK 25.18 billion (2013)[1]
Total assets DKK 70.34 billion (2013)[1]
Total equity DKK 42.57 billion (2013)[1]
Number of employees
 38,436 (2013)[1]
Website www.novonordisk.com

Novo Nordisk is a Danish multinational pharmaceutical company headquartered in Bagsvaerd, Denmark, with production facilities in seven countries, and affiliates or offices in 75 countries.

Novo Nordisk manufactures and markets pharmaceutical products and services. Key products include diabetes care medications and devices. Novo Nordisk is also involved with hemostasis management, growth hormone therapy and hormone replacement therapy. The company makes several drugs under various brand names, including Levemir, NovoLog, Novolin R, NovoSeven, NovoEight and Victoza.

Novo Nordisk employs more than 40,000 people globally,[2] and marketed its products in 180 countries. It is the largest publicly traded company in the Nordic countries by market capitalization.[3] 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).[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 while spin-off company Novozymes was named fourth.[6] Novo Nordisk was ranked 72nd on “Fortune’s 100 Best Companies to Work For®” list within the U.S. state of New Jersey as of January 2014.[7]

Products

Tresiba - is a Type 1 diabetes and Type 2 diabetes drug. It is a new-generation basal insulin with ultra-long duration of action of more than 42 hours administered through intravenous injection. Intended to offer a flexible treatment and a good safety profile. It is approved and launched in the EU and Japan and under regulatory review in the US and other major markets.[1]

Liraglutide 3 Mg (Victoza) - is a once-daily human GLP-1 analogue. It serves as an adjuvant, intended for combination with lifestyle changes (including diet), to offer sustainable weight loss for people with severe obesity, including those at particular risk of developing diabetes.[1]

Ryzodeg - is a drug for type 1 and 2 diabetes. Ryzodeg is a soluble co-formulation of Tresiba and NovoRapid, and is a rapid-acting mealtime insulin. It is approved to offer patients reduced risk of hypoglycemia and is currently approved in the EU and Japan. The US FDA requires additional data.[1]

In addition to the development of diabetes treatment pharmaceuticals, Novo Nordisk has been involved in the production of several lines of insulin pumps/pens for efficient delivery into the body and bloodstream.

Collaborative research

Toxicogenomics

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.[8][9] The company is expanding its activities in joint research projects within the framework of the Innovative Medicines Initiative of EFPIA and the European Commission.[10]

Diabetes

Novo Nordisk founded the World Diabetes foundation[11] 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.

Diabetes 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 UK findings, a National Action Plan (NAP) was developed, with a multidisciplinary steering committee, to support the delivery of individualized person-centered care in the UK. The NAP seeks to provide a holistic approach to diabetes treatment for patients and their families.[12]

The i3-diabetes programme is a unique collaboration between the King's Health Partners, one of only six Academic Health Sciences Centres (AHSCs) in England, and Novo Nordisk with the aim of co-creatinga new, world-class model of patient-centred, specialist diabetes care that will meet the changing needs of people with diabetes. 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.[13]

Diabetes Support Advocacy

Novo Nordisk have sponsored the International Diabetes Federation's Unite for Diabetes campaign.[14]

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.[15]

A November 2014 newspaper article suggested that a recent medical research breakthrough at Harvard University (creating insulin-producing cells from embryonic stem cells) could potentially put Novo Nordisk out of business. Dr Alan Moses, the chief medical officer of Novo Nordisk, commented that the biology of diabetes is incredibly complex but also that Novo Nordisk's mission is to alleviate and cure diabetes. If this new medical advance "...meant the dissolution of Novo Nordisk, that'd be fine."[16]

Research and Pipeline

Novo Nordisk was 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 [17] In September 2014 the company announced a decision to discontinue all research in inflammatory disorders, including the discontinuation of R&D in anti-IL-20 for the treatment of rheumatoid arthritis.[18]

Controversy

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.[19]

In 2013 Novo Nordisk had to pay back DKK 3.6 billion to the Danish tax authorities due to transfer mispricing.[20]

In March 2013, a debate emerged in which scientists questioned whether the incretin class of diabetes medications – the class to which Victoza belongs – had in 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.[21]

In October 2013, batches of NovoMix 30 FlexPen and Penfill insulin were recalled in some European countries as their analysis had shown that a small percentage of the products in these batches did not meet the specifications for insulin strength.[22]

Sponsorship

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

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 "Annual Report 2013". Novo Nordisk. Retrieved 2014-04-25.
  2. ↑ "Careers". Retrieved 27 Oct 2014.
  3. ↑ Boyd, Jonathan. "Pharma replaces oil as biggest Nordic market cap maker". Investment Europe. Retrieved 4 April 2012.
  4. ↑ "The Pharmaceutical Industry in Figures - 2008 Edition". European Federation of Pharmaceutical Industries and Associations (EFPIA). p. 49. Retrieved 2008-08-25.
  5. ↑ Money.CNN.com
  6. ↑ "Novo Nordisk Named on the 2014 FORTUNE 100 Best Companies to Work For® List for Sixth Consecutive Year". Novo Nordisk and Fortune. Retrieved 2014-04-25.
  7. ↑ "Corporate Knights Global 100 Most Sustainable Corporations Announced in Davos: List of companies practicing cleaner capitalism beating benchmark by substantial margin". Knights Global. Retrieved 2014-04-25.
  8. ↑ Mattes, William B. (2008). "Public Consortium Efforts in Toxicogenomics". In Mendrick, Donna L.; Mattes, William B. Essential Concepts in Toxicogenomics. Methods in Molecular Biology 460. pp. 221–238. doi:10.1007/978-1-60327-048-9_11. ISBN 978-1-58829-638-2. PMID 18449490.
  9. ↑ "InnoMed PredTox Member Organizations". Retrieved 2008-08-25.
  10. ↑ Innovative Medicines Initiative. "IMI Call Topics 2008". IMI-GB-018v2-24042008-CallTopics.pdf. European Commission. Retrieved 2008-08-25.
  11. ↑ "World Diabetes Foundation website". Retrieved 2008-08-25.
  12. ↑ Funnell, M. M. (2006). "The Diabetes Attitudes, Wishes, and Needs (DAWN) Study". Clinical Diabetes 24 (4): 154. doi:10.2337/diaclin.24.4.154.
  13. ↑ i3-diabetes programme
  14. ↑ Wordldiabetesday.org
  15. ↑ "Novo Nordisk launches ’Cities Changing Diabetes’ to fight urban diabetes". Novo Nordisk. Retrieved 2014-04-25.
  16. ↑ Roland, Denise (24 November 2014) Insulin pioneer sees end in sight for diabetes – and itself The Daily Telegraph, Retrieved 25 November 2014
  17. ↑ "Biopharmaceutical Research Unit," Novo Nordisk Corporation, accessed November 29, 2011, http://www.novonordisk.com/science/organisation/bru.asp
  18. ↑ Lamm, Greg (4 Sep 2014). "Novo Nordisk cuts jobs at Seattle research facility". http://www.bizjournals.com/''. Retrieved 27 Oct 2014.
  19. ↑ "Novo Nordisk Limited, Eli Lilly and Company Limited, Grünenthal Ltd and Napp Pharmaceuticals Limited named in advertisements". Prescription Medicines Code of Practice Authority (PMCPA). Retrieved 2011-02-07.
  20. ↑ "Sådan snød Novo Nordisk Skat for 3,6 milliarder". Retrieved 2013-02-05.
  21. ↑ Funch, D.; Gydesen, H.; Tornøe, K.; Major-Pedersen, A.; Chan, K. A. (2014). "A prospective, claims-based assessment of the risk of pancreatitis and pancreatic cancer with liraglutide compared to other antidiabetic drugs". Diabetes, Obesity and Metabolism 16 (3): 273. doi:10.1111/dom.12230.
  22. ↑ "Medical alert: Batches of NovoMix 30 FlexPen and Penfill to be recalled". Diabetes UK. Retrieved 2014-04-25.

External links