1920s
Brothers Harald and Thorvald Pedersen founded Insulin Novo in Copenhagen after Thorvald was fired from Nordisk.
“they found a new insulin company, a Novo insulin company there in Copenhagen, Insulin Novo.”
Topic
Novo Nordisk
14 facts from 1 episode, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1940s
During World War II, Novo supplied insulin across Nazi-occupied Europe while Nordisk lost its allied licensing revenue, setting Novo on the path to dominance.
“Novo, not Nordisk, became the globally dominant.”
1980s
Novo invented the insulin pen in the 1980s while Nordisk focused on insulin pumps.
“Novo invented the pen and Nordisk focused on pumps.”
1989
Novo and Nordisk announced their merger in January 1989, combining both operating companies and both foundations.
“in January 1989, the Novo Nordisk merger is finally announced. And it's a dual merger of both the operating companies and their respective foundations.”
1989
The 1989 merger gave Novo roughly 62% and Nordisk roughly 38% of the combined company.
“I believe that the final ratio was 62% Novo and 38% Nordisk.”
2004
In 2004 Novo Nordisk management had a deal to combine with Serono, which the foundation board blocked after meetings in August and September.
“in 2004, they have a deal on the table to combine with the Swiss company, Serono.”
2005
In 2005 Novo Nordisk CEO Lars Rebien Sørensen said obesity was a social problem and offered no business opportunity for the company.
“obesity is primarily a social and cultural problem. It should be solved by means of a radical restructuring of society. There is no business for Novo Nordisk in that area.”
2011
Victoza, liraglutide for diabetes, approved in 2010, earned about $300 million in its first year and over $1 billion in 2011.
“Victoza does roughly $300 million in sales. The next year, the first full year it's on the market in 2011, it does over a billion dollars in sales just in that year.”
2016
Novo Nordisk's stock fell about 40% in 2016 amid Saxenda's modest results and the insulin pricing controversy, and CEO Lars Sørensen resigned.
“in 2016, the stock takes a 40% hit, which is wild.”
2016
Semaglutide is injected weekly rather than daily and is about twice as effective for weight loss as liraglutide.
“semaglutide has several benefits over liraglutide. One, it is much, much longer lasting in the body. So it only needs to be injected once per week instead of once per day.”
2021
In 2021 US officials alleged Novo Nordisk raised insulin prices over 600% between 2001 and 2019 in step with competitors, which Novo denied.
“2021, U.S. officials alleged that Novo Nordisk increased prices more than 600% between 2001 and 2019 in lockstep with competitors to the detriment of diabetics.”
2023
By 2023 about 51% of Novo Nordisk's revenue came from diabetes GLP-1 drugs and 18% from obesity GLP-1 drugs, with insulin at 22%.
“51% of their revenue comes from diabetes-focused GLP-1 drugs and an additional 18% from obesity-related GLP-1.”
2032
Novo Nordisk's patent on semaglutide runs until 2032.
“Novo Nordisk has the patent on sumaglutide until 2032.”
Undated
The Novo Nordisk Foundation controls 77% of Novo Nordisk's voting shares and 28% of its economic shares.
“that foundation controls 77% of the voting shares of Novo Nordisk and 28% of the economic shares.”
Episodes