Novo Nordisk A/S
|Novo Nordisk A/S|
|Industry||Pharmaceuticals and Chemicals|
|Founder||Hans Christian Hagedorn|
|CEO||Lars Rebien Sørensen|
|Products||Pharmaceuticals and Healthcare|
|Market Value||100.804,4 m$|
- 1 About Novo Nordisk
- 2 Engagement in Cultural Diplomacy
- 3 Employment Policy
- 4 Education
- 5 Grants and Scholarships
- 6 Notable Activities
- 7 External Links
About Novo Nordisk
Novo Nordisk is a Danish multinational healthcare company. Key products include diabetes care medications and devices as the company has 90 years of innovation in this field. Novo Nordisk is also one of the leading companies in the field of haemophilia care, growth hormone therapy and hormone replacement therapy. The company produces a variety of drugs under various brand names, including Levemir (http://www.levemir.com/ ), NovoLog, Novolin R, NovoSeven, NovoEight and Victoza.
Engagement in Cultural Diplomacy
In the area of Human Rights as part of the company’s sustainability strategy, Novo Nordisk is a signatory of the UN Global Compact. The company issues an annual communication of progress directly to the UN. Through the development of the activities of the Novo Nordisk Fonden, the company contributes to a series of humanitarian causes and projects. One of the best examples are the grants awarded to many humanitarian not-for-profit organizations in Denmark at the end of each year. In addition, NovoNordisk supports financially and through grants and prizes the best research centres and students worldwide. In order to obtain long-term business success, the company invests in a healthy and well-functioning economy, environment and society. Bussines is conducted in accordance with the Triple Bottom Line business principle and business solutions aim to maximise value while being financially, socially and environmentally responsible.
In its 2013 Annual Report Novo Nordisk has a section dedicated to employee social performance in which it is stated that at the end of 2013, 70% of the 33 senior management teams were comprised of members from both genders and different nationalities. However, the company does not have a policy of diversity and inclusion or even a Charter of employee diversity or any similar document which could be found on the Novo Nordisk’s corporate website. NovoNordisk has a global careers portal on their website, allowing potential employees to conduct a global job search. The company develops its business operations in international production facilities located in seven countries and has affiliates or offices in 75 countries.
Cultural Exchange Programs
In the US NovoNordisk develops its US Marketing & Business Rotational Development Program together with several of its subsidiaries worldwide. The program’s purpose is to foster intercultural and professional exchanges between junior employees, and therefore give them the opportunity to work and build their career in one of NovoNordisk’s global locations for an 8-month-period. Furthermore, NovoNordisk also has several international graduate programs focusing on cultural exchanges and professional rotations between recent graduates who are newly employed by the company, for example: International Operations Business, the International Operations Finance or the China International Program.
International Internship Programs
Novo Nordisk has an Internship Program for Danish-based master students or international students willing to move to Denmark where the program takes place. According to the company’s website ,students of all nationalities study profiles and levels of experience are welcome, however, there is no reference made to the international nature or the specific international mobility characteristics of the internship program.
Grants and Scholarships
Through its social foundation, the Novo Nordisk Fonden, has supported the furtherance of the efforts of scientific research institutions and researchers through grants, scholarships and fellowships in order to develop projects and develop new research centers. Thus, the company has provided scholarships for the research development in a wide range of disciplines and in areas such as overeating, maternal depressive symptoms, diabetes and cardiovascular disease, biomedical, biotechnology research or art research. In cooperation with Novozymes, Novo Nordisk provides scholarships to approximately 40 master’s students per year. Grants for a period of one year maximum are awarded to outstanding students in the final year of their master’s studies for the thesis project. The scholarship may also cover a research year for medical students. However, in order to obtain the grant applicants have to be enrolled at a Danish university or Lund University in Sweden as well as work in a field relevant to Novo Nordisk R&D strategy.
Activities in the Field of Humanitarian Aid
At the end of each year, The Novo Nordisk Foundation awards grants to several humanitarian not-for-profit organizations based in Denmark. Some of the organizations that received grants were: Médecins Sans Frontières, Danish Refugee Council, Red Cross Youth or Save the Children Denmark. The pharmaceutical company has also donated 650,000 Danish Krones for aid relief and rehabilitation efforts for the areas affected by the Super Typhoon Yolanda. In addition to this activity, the company has also provided financial aid and health aid support projects; a good example of this being- the humanitarian aid provided to Ukraine in the form of insulin worth 1 million dollars.
Promoting Human- and Civil Rights
NovoNordisk places great importance on respecting Human Rights. In the framework of its social responsibility policy, the corporation has supported since 1998 the United Nations Universal Declaration of Human Rights, and amongst other internationally agreed frameworks in the field of Human Rights the company signed the 2001 UN Global Compact. In addition, Novo Nordisk joined the Business Leaders Initiative on Human Rights (BLIHR). Moreover, Novo Nordisk publishes a yearly UN Global Compact communication on progress in which the implementation of the 10 main principles of this document are assessed by the company, giving an outline of the relevant policies, responsibilities and challenges that have been detected by the company in this area. However neither of the company’s Annual Reports, nor in its yearly UN Global Compact communication on progress, is it possible to observe concrete examples of projects in cooperation with civil society actors in the area of Human Rights Promotion or Civil Rights.
Supporting Music and Visual Arts
NovoNordisk has sponsored some concerts and musical events, such as “the Rick Springfield Concert” in Ohio, US. However, there has been no prominent investment in the musical field, in the form of consistent yearly musical projects or the promotion of young talented musicians. Furthermore, the Novo Nordisk Foundation has provided scholarships and grants for the promotion of art research. Financial support enables the most talented researchers to carry out larger research projects. The aim is to support the researcher’s career within this field as well as to contribute to art research and art history in Denmark. The Foundation funds research in the interdisciplinary field between art history & bio- and natural sciences. The technology associated with these disciplines is also included. In 2011, NovoNordisk was among the sponsors of the “Danish Film Festival in Kiev”, but no other relevant activity in the field of film industry was found.
Novo Nordisk has sponsored a series of sporting events and competitions worldwide. Some of the most prominent were the sponsorship agreement with the former cycling team- Team Type 1-Sanofi which became Team NovoNordisk in 2013. The agreement reached with INDYCAR that positioned NovoNordisk as the official diabetes care provider in 2012 was renewed in 2013 by sponsoring the Emergency Care Vehicle. The agreement between the firm US Road Sports and Novo Nordisk made the company the new title sponsor of the Novo Nordisk 2014 New Jersey Marathon and Half Marathon.