share
INVESTOR UPDATE FROM NOVO NORDISK
NOVEMbER 2014
TwO NEw cITIES jOIN
ThE FIghT AgAINST
URbAN DIAbETES
14–1 IN FAVOUR
OF SAxENDA®
Saxenda® received a
positive 14–1 vote in
favour of approval for
the treatment of obesity
at an FDA Advisory
committee meeting.
copenhagen and houston
are now part of the
partnership programme
cities changing Diabetes.
sales increased in the first
nine months of 2014 by
8%
(local currencies)
operating profit
increased by
11%
(local currencies)
net profit
increased by
sales of modern
insulin increased by
4%
13%
(Danish kroner)
(local currencies)
for the treatment of type 2 diabetes in adults
and that Saxenda® received a positive 14–1
vote in favour of approval for the treatment of
obesity at the FDA Advisory committee meeting in September. Also in September, we sadly
announced the discontinuation of our research and development activities within inflammatory disorders.
From a financial perspective, operating profit
grew by 11% in local currencies in the first
nine months of 2014. In Danish kroner, operating profit grew by 5%, reflecting the negative impact from key invoicing currencies. Diluted earnings per share increased by 7%.
Sales growth during the first nine months of
2014 was 8% in local currencies, and 4% in
Danish kroner compared to the first nine
months of 2013.
This growth in local currencies reflects the expected challenges related to the partial loss of
reimbursement at a large pharmacy benefit
manager in the US effective as of january
2014, generic competition to Prandin®, expanded Medicare Part D utilisation and adjustments to the provisions for rebates in 2013.
with the effect of generic Prandin® starting to
annualise, we are satisfied with the increase in
2
sales growth to 10% in local currencies in the
third quarter of 2014. Sales growth was driven
by North America, International Operations
and Region china. when looking at the products, the growth was primarily driven by
Levemir® and Victoza®.
The roll-out of Tresiba®, the once-daily newgeneration insulin, continues and performance in countries with market access on par
with insulin glargine remains encouraging.
On the R&D front, we are pleased with the
European commission’s approval of xultophy®
The outlook for 2014 sales growth is now
7–9% in local currencies, from previously
7–10%. For operating profit, we still expect
growth to be around 10% in local currencies.
The preliminary outlook for 2015 indicates
high single-digit growth in sales and growth in
operating profit of around 10%, both measured in local currencies.
n
Lars Rebien Sørensen
CEO, Novo Nordisk
Share • November 2014
FDA ADVISORy cOMMITTEE
VOTED 14–1 IN FAVOUR
OF SAxENDA®
In September, Saxenda® (liraglutide 3 mg) for
the treatment of obesity received a positive vote
in favour of approval from the Endocrinologic
and Metabolic Drugs Advisory committee under the US Food and Drug Administration (FDA).
The panel members voted 14–1 that the overall benefit–risk assessment of Saxenda® was
favourable and supported approval for chronic
weight management in individuals with a bMI
of 30 kg/m2 or greater, or 27 kg/m2 or greater
in the presence of at least one weight-related
comorbidity.
“we’re pleased with the clear recommendation from the Advisory committee,” says Mads
Krogsgaard Thomsen, executive vice president
and chief science officer of Novo Nordisk. “we
look forward to working with the FDA as they
complete their review of Saxenda®. Obesity is a
serious public health issue in the US and we’re
committed to making Saxenda® a new treatment option for adults with obesity.”
Share • November 2014
AbOUT ObESITy
Obesity is a condition that requires chronic
management. It is associated with serious comorbidities including type 2 diabetes, heart disease, obstructive sleep apnoea, certain types of
cancer and a decreased life expectancy. The risk
of morbidity and mortality increases with the
severity of obesity. It is a complex and multifactorial condition that is influenced by genetic,
physiological, environmental and psychological
factors.
n
NEw ObESITy cOMPOUND
IN DEVELOPMENT
In September, Novo Nordisk initiated
the first phase 1 trial with NN9030,
a novel glucagon analogue which, in
combination with liraglutide, may hold
potential as a treatment for obesity.
Maria Lopez lives in the US. Her BMI is 33 kg/m2.
NEw ObESITy RESEARch
UNIT IN SEATTLE
In September, Novo Nordisk announced that it will establish a US obesity
research unit in Seattle, washington.
The new unit is a result of Novo Nordisk’s increasing focus on the treatment of obesity. Its main task will be to
identify novel approaches and targets
for obesity treatments while increasing
the scientific understanding of existing
obesity targets.
3
sales increased in
the first nine
months of 2014 by
8%
(local currencies)
operating profit
increased by
11%
(local currencies)
net profit
increased by
4%
(Danish kroner)
NOVO NORDISK INcREASED OPERATINg PROFIT IN LOcAL
cURRENcIES by 11% IN ThE FIRST NINE MONThS OF 2014
8% sales growth in local currencies driven by Levemir® and Victoza®
n Sales increased by 8% in local currencies and by 4% in
Danish kroner to DKK 64.2 billion during the first nine
months of 2014 compared to the same period in 2013.
· Sales of modern insulin increased by 13%
(8% in Danish kroner).
· Sales of Victoza® increased by 15%
(12% in Danish kroner).
· Sales in North America increased by 11%
(7% in Danish kroner).
· Sales in International
Operations
increased by 13%
sales increase
in
(1% in Danishthe
kroner).
first quarter of
2012
· Sales in Region
china increased by 14%
(11% in Danish kroner).
sales of
modern insulin
increased by
n
gross margin improved by 1.0 percentage point in
Danish kroner to 83.6% driven by a favourable price
development as well as a positive impact from product
mix and productivity.
13%
n
Operating profit increased by 11% in local currencies
and by 5% in Danish kroner to DKK 25.3 billion.
(local currencies)
4
n
Net profit increased by 4% to DKK 20.0 billion. Diluted
earnings per share increased by 7% to DKK 7.56.
n
The roll-out of Tresiba® continues. In japan, Tresiba® now
represents 24% of the basal insulin market measured in
monthly value market share.
n
In September, the European commission granted
marketing authorisation for xultophy® for the treatment of type 2 diabetes mellitus in adults. xultophy® is
a fixed combination of insulin degludec (Tresiba®) and
liraglutide (Victoza®).
n
For 2014, sales growth measured in local currencies is
now expected to be 7–9% and operating profit growth
measured in local currencies is still expected at around
10%.
n
The preliminary outlook for 2015 indicates high singledigit sales growth and around 10% operating profit
growth, both measured in local currencies.
Share • November 2014
DIAbETES cARE SALES DEVELOPMENT
activities are progressing as planned and early feedback from patients
Sales of diabetes care products increased by 9% measured in lo-
and prescribers is encouraging.
cal currencies and by 5% in Danish kroner to DKK 50,704 million.
Sales of modern insulin increased by 13% in local currencies and by
Novo Nordisk is the world leader in diabetes care and now holds a global
8% in Danish kroner to DKK 30,369 million. North America accounted
value market share of 27% compared to 28% at the same time last year.
for 65% of the growth, followed by International Operations and
Region china. Sales of modern insulin and new-generation insulin
Insulin and protein-related products
now constitute 80% of Novo Nordisk’s sales of insulin.
Sales of insulin and protein-related products increased by 9% in local
currencies and by 5% in Danish kroner to DKK 40,028 million. Measured
Victoza® (GLP-1 therapy for type 2 diabetes)
in local currencies, sales growth was driven by North America, Interna-
Victoza® sales increased by 15% in local currencies and by 12% in
tional Operations and Region china. Novo Nordisk is the global leader
Danish kroner to DKK 9,416 million. Sales growth is driven by North
with 47% of the total insulin market and 46% of the market for modern
America and reflects a deceleration of the gLP-1 volume growth and
insulin and new-generation insulin, both measured in volume.
the impact of the partial loss of reimbursement with a large pharmacy
In the first nine months of 2014, sales of new-generation insulin
benefit manager in the US. Despite the lower volume growth, the gLP-1
reached DKK 396 million compared with DKK 75 million in the same
segment’s value share of the total diabetes care market has increased to
period in 2013.
6.9% compared to 6.7% in 2013. Victoza® is market leader in the gLP-1
The roll-out of Tresiba® (insulin degludec), the once-daily new-gener-
segment with a 72% value market share compared to 70% in 2013.
ation insulin with an ultra-long duration of action, continues. Tresiba®
has been launched in 22 countries; recent launches comprise brazil,
NovoNorm®/Prandin®/PrandiMet® (oral antidiabetic products)
Slovakia, chile and Russia. In japan, where Tresiba was launched in
Sales of oral antidiabetic products decreased by 31% in local curren-
March 2013 with the same level of reimbursement as insulin glargine,
cies and by 33% in Danish kroner to DKK 1,260 million. The negative
its share of the basal insulin market has grown steadily and has now
sales development reflects an impact from generic competition in the
reached 24% of the basal insulin market measured in monthly value
US since August 2013.
®
market share. Similarly, Tresiba® has shown a solid penetration in other
markets with reimbursement at a similar level as insulin glargine, where-
bIOPhARMAcEUTIcALS SALES DEVELOPMENT
as penetration remains modest in markets with restricted market access
Sales of biopharmaceutical products increased by 4% measured in
compared to insulin glargine.
local currencies and remained unchanged in Danish kroner at DKK
In September 2014, Mexico was the first country to launch Ryzodeg®,
a soluble formulation of insulin degludec and insulin aspart. Launch
Share • November 2014
13,517 million. Sales growth was primarily driven by North America
and International Operations.
total diabetes care
sales increased by
9%
(local currencies)
biopharm sales
increased by
4%
(local currencies)
North America
sales increased by
11%
(local currencies)
International
Operations
sales increased by
13%
(local currencies)
5
QUARTERLy NUMbERS FOR NOVO NORDISK IN 2013 AND 2014
(Amounts in DKK million, except number of full-time equivalent
employees, earnings per share and number of shares outstanding)
Q3
2014
Q2
2014
Q1
2014
Q4
2013
Q3
2013
Q2
2013
22,249
18,823
5,899
3,654
870
169
21,629
17,958
5,559
3,075
795
204
20,343
16,877
5,086
3,168
805
215
21,698
18,298
6,487
3,566
1,070
179
20,511
16,986
5,529
2,795
822
152
21,380
17,774
5,834
2,715
815
175
19,983
16,374
5,530
2,657
801
176
8%
11%
7%
31%
6%
11%
Operating profit
Financial income
Financial expenses
Net financials
8,569
326
441
(115)
8,733
396
140
256
8,033
586
318
268
7,354
606
170
436
7,992
418
111
307
8,585
363
267
96
7,562
315
108
207
7%
(22%)
297%
(137%)
Profit before income taxes
8,454
8,989
8,301
7,790
8,299
8,681
7,769
2%
Net profit
6,500
6,994
6,458
6,053
6,415
6,734
5,982
1%
Depreciation, amortisation and impairment losses1
capital expenditure
Net cash generated from operating activities
Free cash flow
1,183
986
12,197
11,157
667
802
8,125
7,250
657
693
4,069
3,272
789
739
5,372
4,538
643
908
6,217
5,219
676
778
7,283
6,423
691
782
7,070
6,178
84%
9%
96%
114%
Total assets
Total equity
71,283
37,967
63,681
36,661
63,241
33,583
70,337
42,569
68,134
39,125
64,289
35,357
62,447
33,801
5%
(3%)
Full-time equivalent employees end of period
40,700
40,226
39,579
37,978
36,851
35,869
35,154
10%
basic earnings per share/ADR (in DKK)
Diluted earnings per share/ADR (in DKK)2
Average number of shares outstanding (million)2
Average number of diluted shares outstanding (million)2
2.49
2.47
2,613.9
2,622.2
2.66
2.66
2,628.9
2,637.3
2.44
2.43
2,642.4
2,653.1
2.28
2.27
2,653.4
2,666.8
2.41
2.39
2,667.5
2,681.5
2.50
2.49
2,688.5
2,702.5
2.21
2.20
2,708.0
2,723.5
3%
3%
(2%)
(2%)
Sales
gross profit
Sales and distribution costs
Research and development costs
Administrative costs
Licence income and other operating income
2
1
2
Q1
% change
2013 2013–2014 (Q3)
hereof impairments of around DKK 450 million related to discontinuation of activities within inflammatory disorders.
comparative figures have been restated to reflect the change in trading unit from DKK 1 to DKK 0.20.
6
Share • November 2014
NovoSeven® (bleeding disorders therapy)
Norditropin® (growth hormone therapy)
Other biopharmaceuticals
Sales of NovoSeven® decreased by 2% in local cur-
Sales of Norditropin® increased by 10% in local curren-
Sales of other products within biopharmaceuticals,
rencies and by 6% in Danish kroner to DKK 6,596
cies and by 5% in Danish kroner at DKK 4,695 million.
which predominantly consist of hormone replace-
million. The sales decline is driven by lower sales in
The sales growth is primarily derived from North
ment therapy-related (hRT) products, increased by
Europe and North America reflecting cost containment,
America and is driven by contractual wins, the support
13% in local currencies and by 9% in Danish kroner
which only are partly offset by growth in International
programmes that Novo Nordisk offers healthcare pro-
to DKK 2,226 million. Sales growth is primarily driven
Operations. The market for NovoSeven® remains vola-
fessionals and patients as well as the demand for the
by a positive impact from pricing of Vagifem® in the
tile as it depends on the number of surgical procedures
prefilled FlexPro® device. Novo Nordisk is the leading
US and the launch of NovoEight® in Europe and japan.
undertaken on haemophilia patients with inhibitors.
company in the global growth hormone market with
a 30% market share measured in volume.
Total sales
Diabetes care
Sales development
Modern insulins
Sales development
DKK billion
DKK billion
90
80
70
Growth hormone therapy
Sales development
Sales development
.
DKK billion
DKK billion
DKK billion
70
40
14
7
60
35
12
6
10
5
8
4
6
3
4
2
2
1
30
50
60
NovoSeven®
Sales development
(NovoRapid®, NovoMix®, Levemir®)
25
50
40
40
30
20
30
15
20
10
20
10
10
3 mths 6 mths 9 mths 12 mths
2012
2013
5
3 mths 6 mths 9 mths 12 mths
3 mths 6 mths 9 mths 12 mths
3 mths 6 mths 9 mths 12 mths
3 mths 6 mths 9 mths 12 mths
2014
Share • November 2014
7
OUTLOOK 2014
side the US. The outlook for operating profit growth is
tisation and impairment losses are now expected to
Sales growth for 2014 is now expected to be 7–9%
maintained despite the revised outlook for sales growth
be around DKK 3.5 billion. Free cash flow is still ex-
measured in local currencies. This reflects expectations
and the discontinuation of activities within inflamma-
pected to be around DKK 25 billion.
for continued robust performance for the portfolio
tory disorders, reflecting lowered expectations to costs
of modern insulin and Victoza® as well as a modest
related to back-office functions and lower promotional
with regard to the financial outlook for 2015, Novo
sales contribution from Tresiba®. These sales drivers are
investments. given the current level of exchange rates
Nordisk expects to provide detailed guidance on expec-
expected to be partly countered by an impact from a
versus the Danish krone, the reported operating profit
tations in connection with the release of the full-year
challenging rebate and contract environment in the US,
growth is now expected to be around 3 percentage
financial results for 2014 on 30 january 2015. At pre-
generic competition to Prandin® in the US, intensifying
points lower than growth measured in local currencies.
sent, the preliminary plans for 2015 in local currencies indicate high single-digit growth in sales and around
competition within both diabetes and biopharmaceuticals as well as the macroeconomic conditions in
For 2014, Novo Nordisk now expects a net financial
10% growth in operating Adjusted for the impact of the
a number of markets in International Operations. The
loss of around DKK 150 million. The current expecta-
discontinuation of all activities within inflammatory dis-
revised outlook primarily reflects expectations towards
tion primarily reflects losses associated with foreign
orders in 2014, the underlying operating profit growth
lower NovoSeven® sales and a lower market growth in
exchange hedging contracts following the recent ap-
in 2015 is expected to be high-single digit. given the
china. given the current level of exchange rates versus
preciation of the US dollar versus the Danish krone
current level of exchange rates versus the Danish krone,
the Danish krone, the reported sales growth is now
compared to the average prevailing exchange rates in
reported sales and operating profit growth in 2015 is
expected to be around 2 percentage points lower than
2013. The effective tax rate for 2014 is now expect-
expected to be approximately 3% and 5% higher than
growth measured in local currencies.
ed to be between 22 and 23%, reflecting a negative
the growth measured in local currencies, respectively.
non-recurring impact from the increase in the non-tax-
The currency impact on reported operating profit
For 2014, operating profit growth is still expected
deductible provision related to the branded Prescription
growth is expected to be partly offset by a net loss on
to be around 10% measured in local currencies. This
Drug Fee in the US.
the portfolio of foreign exchange contracts hedging operating cash flows in 2015.
reflects a significant increase in costs related to the continued progress of key development projects within dia-
Capital expenditure is still expected to be around
betes and biopharmaceuticals. In addition, significant
DKK 4.0 billion in 2014, primarily related to investments
All of the above expectations are based on the as-
costs are expected in relation to investments in sales
in additional gLP-1 manufacturing capacity, expansion
sumption that the global economic environment will
and marketing of the portfolio of modern insulin and
of filling capacity, prefilled device production facilities
not significantly change business conditions for Novo
Victoza® in the US, sales force expansions in china and
as well as expansion of protein capacity for clinical trial
Nordisk during 2014 and 2015, and that currency ex-
selected markets in International Operations as well
supply. Reflecting the discontinuation of all activities
change rates, especially the US dollar, will remain at
as investments related to the launch of Tresiba® out-
within inflammatory disorders, depreciation, amor-
the current level versus the Danish krone.
8
n
Share • November 2014
FORwARD-LOOKINg STATEMENTS
Novo Nordisk’s reports filed with or furnished to the US
Securities and Exchange commission (SEc), including
the financial statement for the first nine months of 2014
as well as the company’s Annual Report 2013 and Form
20-F, both filed with the SEc in February 2014, and written information released, or oral statements made, to
the public in the future by or on behalf of Novo Nordisk,
may contain forward-looking statements. words such as
‘believe’, ‘expect’, ‘may’, ‘will’, ‘plan’, ‘strategy’, ‘prospect’, ‘foresee’, ‘estimate’, ‘project’, ‘anticipate’, ‘can’,
‘intend’, ‘target’ and other words and terms of similar
meaning in connection with any discussion of future
operating or financial perform-ance identify forwardlooking statements. Examples of such forward-looking
statements include, but are not limited to:
·
·
·
·
statements of targets, plans, objectives or goals for
future operations, including those related to Novo
Nordisk’s products, product research, product development, product introductions and product approvals
as well as cooperation in relation thereto
statements containing projections of or targets for
revenues, costs, income (or loss), earnings per share,
capital expenditures, dividends, capital structure, net
financials and other financial measures
statements regarding future economic performance,
future actions and outcome of contingencies such as
legal proceedings
statements regarding the assumptions underlying or
relating to such statements.
In the company announcement, examples of forwardlooking statements can be found under the headings
‘Outlook’, ‘Research and Development update’, Equity’
and ‘Legal matters’.
These statements are based on current plans, estimates
and projections. by their very nature, forward-looking
statements involve inherent risks and uncertainties, both
general and specific. Novo Nordisk cautions that a number of important factors, including those described in
Share • November 2014
this document, could cause actual results to differ materially from those contemplated in any forward-looking
statements.
Factors that may affect future results include, but are not
limited to, global as well as local political and economic
conditions, including interest rate and currency exchange rate fluctuations, delay or failure of projects related to research and/or development, unplanned loss of
patents, interruptions of supplies and production, product recalls, unexpected contract breaches or terminations, government-mandated or market-driven price
decreases for Novo Nordisk’s products, introduction of
competing products, reliance on information technology, Novo Nordisk’s ability to successfully market current
and new products, exposure to product liability and legal
proceedings and investigations, changes in governmental laws and related interpretation thereof, including on
reimbursement, intellectual property protection and
regulatory controls on testing, approval, manufacturing
and marketing, perceived or actual failure to adhere to
ethical marketing practices, investments in and divestitures of domestic and foreign companies, unexpected
growth in costs and expenses, failure to recruit and retain the right employees, and failure to maintain a culture of compliance.
Please also refer to the overview of risk factors in ‘Risks
to be aware of’ on pp 42–43 of the Annual Report 2013
available on novonordisk.com.
Unless required by law, Novo Nordisk is under no duty
and undertakes no obligation to update or revise any
forward-looking statement after the distribution of this
document, whether as a result of new information, future events or otherwise.
ANNUAL gENERAL MEETINg
SET FOR 19 MARch 2015
The Annual general Meeting (AgM) and
shareholders’ meeting will be held at the bella center in copenhagen on 19 March at 2
pm and 4.30 pm respectively. The AgM will
be conducted in English with simultaneous
translation into Danish; questions asked in
Danish will be translated into English. coffee
will be served afterwards. At the shareholders’
meeting, the chairman of the board of Directors will present the AgM decisions. After the
meeting, Novo Nordisk will host a light buffet.
Invitations for both meetings will be sent out in
n
February 2015.
cONDENSED DANISh
ANNUAL REPORT
when the Danish version of the Annual Report
2014 is published in early February 2015, it
will be a condensed version compared to the
full English report. This follows the decision
taken at the AgM in March 2014 to make the
English version of the report the legal docuScientists at the Novo Nordisk R&D
ment. The Danish
report
will stillareinclude
the
centre
in Seattle
now investifull managementgating
reviewboth
as intype
the1English
diabetesverand
sion, but only aninflammation.
abbreviated version of the
consolidated statements.
n
9
UPDATE ON ThE DEVOTE TRIAL
ing the interim data. Novo Nordisk management will not have access to the unblinded
results of the interim analysis, and the result
of the interim analysis will not be communicated when the decision whether to submit
the interim analysis to the FDA is taken. The
trial is expected to be completed within three
to four years from when it was initiated in
n
October 2013.
The cardiovascular outcomes trial for Tresiba®
(insulin degludec), DEVOTE, is still progressing and the majority of the participants have
now been recruited. Novo Nordisk expects
data to support a pre-specified interim analysis of major adverse cardiovascular events to
be available early 2015.
Novo Nordisk expects to decide during the
first half of 2015 whether to submit the result of this interim analysis to the US Food
and Drug Administration (FDA) or to await
completion of the DEVOTE trial.
The result of an interim analysis carries a higher
level of uncertainty than the final study results
as this preliminary estimate is built on a lower
number of observations. Accordingly, a relative
risk estimate that is derived from an interim
analysis may or may not support resubmission
regardless of the final trial result. A possible
decision not to submit the interim analysis to
the FDA will therefore not in itself indicate a
cardiovascular safety issue related to the use of
Tresiba®. Safety of patients in the DEVOTE trial
is overseen by an independent Data Monitoring
committee, which would recommend that the
10
PROgRESS IN ThE DEgLUDEc PORTFOLIO
Image of the
degludec molecule
trial is stopped should a safety concern arise.
RESTRIcTED AccESS TO DATA
At present, the DEVOTE trial remains blinded
to Novo Nordisk and to regulatory authorities. To comply with FDA guidance and to
preserve the integrity of the ongoing trial,
access to the interim data will be restricted
to a small team within Novo Nordisk who will
interact with the FDA and who will decide
whether to resubmit the degludec file includ-
• Tresiba® (insulin degludec) has now been
launched in 22 countries. In japan, the
first launch market, Tresiba® now has a
value market share of around 24% in the
long-acting insulin segment.
• The first commercial launch of Ryzodeg®
(insulin degludec/insulin aspart) took
place in Mexico in early September.
• xultophy® (insulin degludec/liraglutide)
was approved in Europe in midSeptember and is expected to be
launched in the first half of 2015.
Share • November 2014
NEw PRODUcTION PLANT
In late August, Novo Nordisk announced the
acquisition of a manufacturing facility in west
Lebanon, New hampshire, USA, from Olympus biotech. The facility will be used for the
production of active pharmaceutical ingredients, primarily for the portfolio of biopharmaceuticals. Some of the plant’s former employees have been offered jobs, initially focusing
on planning the future set-up of the plant. n
INFLAMMATION AcTIVITIES
DIScONTINUED
In September, Novo Nordisk discontinued all
its research and development activities within
inflammatory and decided to increase its efforts within diabetes prevention and treatment,
obesity and diabetes complications. The decision followed a review of the company’s strategic position in the therapeutic area after an
announcement to discontinue the company’s
most advanced compound, anti-IL-20 for the
treatment of rheumatoid arthritis.
400 employees were affected by this discontinuation, approx. 250 of whom have been ofn
fered new positions.
Share • November 2014
REcOgNITION
This autumn, Novo Nordisk
won recognition from far and wide.
SEcOND-bEST ScIENcE EMPLOyER
Novo Nordisk was ranked second in the 2014
Science careers Top Employers Survey conducted by the Science journal – a leap up the
list from last year’s 11th place. The key drivers behind this improvement were positive
responses to questions about the company’s
social responsibility, its treatment of employees and staff loyalty.
FOcUS ON hEALTh IN
ThE MIDDLE EAST
Many parts of the Middle East and North Africa struggle with conflict and civil unrest. what
is perhaps less known is the threat diabetes
poses in these regions. In the latest issue of
Novo Nordisk’s sustainability magazine, TBL
Quarterly, you can find out more about how
the company is working to improve health in
an area that has one of the highest rates of
diabetes prevalence in the world.
Read more at
novonordisk.com/tblquarterly
n
ThE SIxTh bEST cEO
In a study conducted by the highly respected
business journal Harvard Business Review,
Novo Nordisk cEO Lars Rebien Sørensen was
ranked as the world’s sixth best-performing
cEO. he was the only cEO from a European
company in the top 10.
SUSTAINAbILITy IN TOP
Novo Nordisk received recognition in Dow jones
Sustainability Index, an investor-focused sustainability benchmark of the world’s leading companies. Novo Nordisk was recognised as ‘one of
only 15 companies across all industries being in
n
the top of the index the last 15 years’.
The Middle East has one of the highest rates of diabetes
prevalence in the world.
11
Novo Nordisk A/S
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Both CEO Lars Rebien Sørensen and the Lord Mayor of Copenhagen, Frank Jensen, were present when the new partnership agreement was signed at Copenhagen Town Hall.
cOPENhAgEN AND hOUSTON jOIN FIghT
AgAINST URbAN DIAbETES
In late August, the Danish capital
copenhagen became the second city to
join the fight against urban diabetes under the umbrella of the ‘cities changing Diabetes’ programme launched in
Mexico city earlier this year. On 3 November, the American city houston followed suit. houston is the fourth largest city in the United States and around
one in 10 adults in houston/harris
county have diabetes. “Diabetes and
obesity pose a significant health threat
to our city,’’ said houston Mayor Annise
D. Parker. “cities changing Diabetes is
a unique opportunity to identify the
health strategies that combat diabetes
in a way that meet the individual needs
of the people of houston and harris
county. we look forward to collaborating with partners locally and around
the world to develop solutions to this
global epidemic.’
AbOUT cITIES chANgINg DIAbETES
cities changing Diabetes is a partnership programme to fight the urban diabetes challenge. It is estimated that, by
2035, more than half a billion people
will have diabetes. Today, nearly twothirds of all people with diabetes live in
cities.
Read more at
citieschangingDiabetes.com
n
Email
[email protected]
Investor contact
For further information please
contact Investor Relations:
Kasper Roseeuw Poulsen
Tel +45 3079 4303
jannick Lindegaard Denholt
Tel +45 3079 8519
Daniel bohsen
Tel + 45 3079 6376
Melanie Raouzeos
Tel + 45 3075 3479
Frank Daniel Mersebach
Tel +1 609 235 8567
Further information
is available on
novonordisk.com
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Novo Nordisk