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Novo Nordisk Annual Report 2006 1 Welcome Letter

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Novo Nordisk Annual Report 2006 1 Welcome Letter financial, social and environmental performance 2006 action defines leadership diabetes care: sustaining leadership biopharmaceuticals: the portfolio expands Businessresults re Biophuticals Challengingworkplace Valuesinaction Glossary visit the online annual report The articles in this printed report make reference to the online Annual Report 2006, which offers additional background, context and data. The online report is available at novonordisk.com/annual-report. Browse the six sections highlighted in the top bar to find topics of interest. Online Annual Report at a glance Online highlights Who we are The world of Novo Nordisk Provides information about the manage- See where Novo Nordisk’s production sites, ment, governance, ownership structure and R&D facilities and clinical development history of Novo Nordisk. centres are located around the world. What we do Game for a challenge? Gives an overview of Novo Nordisk’s product Try the three interactive challenges, which areas and pipeline. represent topics of specific focus in 2006: business ethics, climate change and eco - How we perform nomics & health. Accounts for performance during 2006 from access to health to workplace quality. Try the three interactive challenges How we work in the online Introduces Novo Nordisk’s approach to annual report. doing business, its vision and strategy, and stakeholder engagement. How we are accountable Provides insight into the details of account- ability and assurance. Downloads View, download or order the printed Annual Report 2006. Reader’s guide Novo N Welcome inside! This is Novo Nordisk’s Annual Finally, the shareholder information presents Report 2006. It accounts for the company’s per- Novo Nordisk’s corporate governance model, and formance during the year and presents achieve- the approach to risk management, and examples ments and challenges. We trust you will find that of the current risk profile. Here you will also find we have done so in a fair and balanced way. profiles of the members of the Board of Directors People at Novo Nordisk are guided by the com- and Executive Management. And if you are look- pany’s vision and its values. There is a strong sense ing for information about the share, begin reading of shared purpose across the organisation, and a from the back. commitment to pursuing the goals set out in the vision: to achieve competitive business results, to Action defines leadership sustain leadership in diabetes care, to expand the biopharmaceuticals business, to be a challenging Working with Novo Nordisk, you will learn what it workplace, and to put values into action. means to be a values-led company. Our values This year’s Annual Report seeks to capture the underpin the commitments, principles and policies essence of the Novo Nordisk way. It illustrates how that form our global standards for doing business. we do business and explains how we will continue In everything we do, we will be accountable, am- to create long-term shareholder value. bitious, responsible, engaged with stakeholders, 02–05 The management report and discussion pres- open and honest, and ready for change. Welcome to ents an overview of business performance during The pictures tell stories of Novo Nordisk people 02 Actio 2006 with highlights, five-year developments and putting these values into action. Action defines 04 The N a commentary. leadership. Every day of the year, across the globe, The feature articles put performance into con- people at Novo Nordisk bring to life what leader- text. Organised under the vision’s five headings, ship is all about. 06–19 they provide insights into activities during the year, Our aspiration is to defeat diabetes. It is an am- Business res strategies and goals, risks and opportunities. The bitious goal, yet we believe it can be achieved. we will articles reflect the key priorities for Novo Nordisk Working with stakeholders, driving concerted ac- compet and topics that we have identified as material for tion and thinking out of the box, Novo Nordisk is busines readers’ valuation of the company’s position for changing diabetes. This report provides some ex- the future. amples. To learn more, or to get involved in some 08 Mana You will find a more detailed account of per- of the work, please get in touch. and d formance in the consolidated financial and non- 16 The w Novo financial statements. Enjoy reading! 18 Pipeli A year in the life Goodbye to an icon Natural killer cells of Novo Nordisk 8 March: Outgoing Chairman of the 5 April: Novo Nordisk and Innate Board Mads Øvlisen, a Novo Nordisk icon, Pharma SA announce partnership to bids farewell to shareholders at the develop medicines targeting one of the Factory expansion Annual General Meeting. Sten Scheibye body’s first lines of defence against 11January: A factory expansion in takes over as Chairman of the Board. cancer and infections: natural killer Clayton, North Carolina, results in doubled Pages 112–113. cells. Pages 34–35. insulin filling capabilities, a new assembly and packaging line, and administration and storage space. Page 12. January February March April Climate agreement CEO rings closing bell at the NYSE R&D agreement EU leaders prioritise diabetes 23 January: Novo Nordisk and the World 7 February: Novo Nordisk celebrates the 14 March: Argos Therapeutics and 24 April: The European Parliament Wide Fund for Nature sign an agreement 25th anniversary of the company’s listing Novo Nordisk announce agreement to de- passes a Novo Nordisk-supported in which the company pledges to reduce on the exchange. Pages 115–116. velop treatment for systemic autoimmune declaration calling for increased focus its CO2 emissions. Page 48. disorders. Pages 34–35. on diabetes. Pages 28–29. US research facility opens 21 February: Opening of Novo Nordisk US launch of Levemir® Research US, the first haemostasis 28 March: Announcement of the US research facility in the United States commercial availability of Levemir®, dedicated to life-threatening bleeding. a long-acting modern insulin. Page 37. Pages 24–25. Novo Nordisk’s Vision 14–17 September: During the EASD annual meeting in Copenhagen, Novo Nordisk sponsors rickshaw bicycles to transport conference dele- gates around the city (left). Novo Nordisk researchers in the haemostasis biology unit are exploring novel ap- proaches to rejuvenate the haemostasis portfolio (right). 02–05 20–31 32–39 Welcome to Novo Nordisk Diabetes care Biopharmaceuticals 02 Action defines leadership we will be we will offer products 04 The Novo Nordisk way the world’s leading and services in other diabetes care areas where we can company make a difference 06–19 Business results 22 Diabetes care: 34 Biopharmaceuticals: we will achieve sustaining leadership the portfolio expands 24 Focused strategy in the US 36 Pursuing promising leads competitive targets diabetes crisis in haemophilia business results 26 Long-term presence 38 Growth at every level in emerging markets 08 Management report pays off 39 Convenience matters and discussion 28 Reaching across the 16 The world of global health divide Novo Nordisk 30 A global drive 18 Pipeline overview to change diabetes ls AERx® trials resume Strengthened patent position Fast grower in disk and Innate 1 May: The phase 3 trials for Novo 5 July: Novo Nordisk and Aradigm growth hormone market nce partnership to Nordisk’s AERx® resume. The trials will Corporation announce agreement 2 August: In the first six months of 2006, s targeting one of the involve more than 2,000 people in more through which Novo Nordisk acquires the sales curve for the growth hormone f defence against than a dozen countries. Pages 22–23. certain patent rights regarding product Norditropin® increased. ons: natural killer AERx® iDMS. Pages 22–23. Page 38. Denmark’s best image 5 May: A Danish business magazine publishes the results of its annual image poll and Novo Nordisk comes out on top. Page 40. May June July August itise diabetes Diabetes on the agenda Norditropin NordiFlex® pen launch Praise for achievements pean Parliament 7 June: Novo Nordisk youth panellists 7 July: Novo Nordisk launches a 15 mg in developing countries disk-supported share a common goal: more diabetes version of the liquid growth hormone 23 August: According to international for increased focus awareness through a UN Resolution. delivery system Norditropin NordiFlex® organisations, Novo Nordisk makes s 28–29. Pages 30–31. in Japan. Page 38. invaluable contributions to changing diabetes in the world’s poorest Liraglutide in the news NovoRapid® approval countries. Pages 28–29. 13 June: New data on liraglutide, Novo 31 July: The European Commission Nordisk’s GLP-1 analogue, is launched approves NovoRapid®, a rapid-acting at the American Diabetes Association’s modern insulin, for use by pregnant annual session. Pages 22–23. women with diabetes. Pages 22–23. 28 March: US diabetes care specialists celebrate the launch of Levemir® (left). 15 September: Novo Nordisk executives lead the way in the Novo Nordisk- sponsored five-kilometre run during the EASD annual meeting (right). 40–43 44–49 50–116 Challenging workplace Values in action Accounts and notes a job here our values consolidated financial and is never are expressed in non-financial statements just a job all our actions 52 Financial and non-financial 42 People bring engagement 46 Business ethics training highlights to work deals with dilemmas 54 Consolidated financial statements 43 Learning leadership 47 Responsible sourcing: 90 Consolidated non-financial revisiting the strategy sta te ments 48 Climate
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