Novo Nordisk A/S Due Diligence

Run due diligence on Novo Nordisk A/S: check compliance and get alerts when suppliers change.

Denmark · www.novonordisk.com · 12 vendors

Novo Nordisk A/S is a leading global healthcare company headquartered in Denmark. It specializes in the research, development, and manufacturing of pharmaceutical products, primarily focusing on serious chronic diseases such as diabetes, obesity, and rare blood and endocrine disorders. The company aims to drive change to defeat these diseases by pioneering scientific breakthroughs and expanding access to its medicines.

Resilience scores

Technology vendors

Services catalogue

5 services in catalogue across 2 categories; runs on 12 sub-vendors.

Insights

Last updated 2026-09-13 · revision 17

12 direct vendors, 183 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

13 in-scope frameworks identified; showing 3.

CSRD (source) — Evidence found

Evidence: https://www.novonordisk.com/sustainable-business/esg-portal.html, https://www.novonordisk.com/sustainable-business/esg-portal/sustainability-statement.html, https://annualreport.novonordisk.com/2025/strategic-aspirations/sustainability-commitment.html, https://www.novonordisk.com/investors/esg.html

EU Pharmacovigilance Legislation — Evidence found

Evidence: https://www.novonordisk.com/contact-us/product-customer-service.html, https://www.novonordisk.com/data-privacy-and-user-rights/privacy-notice-report-side-effect.html, https://annualreport.novonordisk.com/2025/governance/risk-management.html

EU Clinical Trials Regulation — Evidence found

Evidence: https://annualreport.novonordisk.com/2025/strategic-aspirations/innovation-and-therapeutic-focus.html, https://annualreport.novonordisk.com/2025/introducing-novo-nordisk/2025-at-a-glance.html, https://www.novonordisk.com/science-and-technology/r-d-pipeline.html

Financials

Three-year financials

Financial Resilience Score: 8/10

Novo Nordisk exhibits strong financial resilience anchored by its dominant GLP-1 franchise (Ozempic, Wegovy, Rybelsus), which alone accounts for roughly 74% of group revenue. The company generated DKK 309B in revenue in 2025 with net profit of DKK 102B and equity growing 36% to DKK 194B. Free cash flow rebounded to DKK 28.3B in 2025 from -DKK 14.7B in 2024 (depressed by the Catalent acquisition), and the company successfully refinanced with EUR 10B in Eurobonds during 2025. The Novo Nordisk Foundation's controlling stake via Novo Holdings A/S provides a stable long-term anchor shareholder atypical of large-cap pharma peers. However, resilience is being tested by significant headwinds: US pricing pressure (including Medicare Part D Maximum Fair Price acceptance effective January 2027 and an MFN framework with the US Administration), intense competition from Eli Lilly's tirzepatide (Mounjaro/Zepbound growing 125%/80%), persistent compounded semaglutide grey market usage (~1 million US patients), and looming patent expirations (China 2026, US 2032). Management guidance for 2026 signals adjusted sales and profit contraction of 4-12%, and the September 2025 restructuring cutting 9,000 positions (DKK 9B charge) with DKK 8B targeted annual savings by end-2026 underscores the pressure. Share price fell 48% during 2025 (DKK 624 to DKK 325), reflecting market skepticism. Overall, the balance sheet strength, pipeline (Wegovy pill, Wegovy 7.2mg, CagriSema, Akero's efruxifermin), and ongoing capacity investments (DKK 60.1B capex in 2025) support an 8/10 resilience score.

Key strengths: Dominant GLP-1 franchise with ~68% volume share in International Operations, Strong equity base of DKK 194B (+36% YoY) and free cash flow recovery to DKK 28.3B, Novo Nordisk Foundation controlling shareholder providing long-term stability, Robust pipeline including Wegovy pill (world's first oral GLP-1 for weight management), Wegovy 7.2mg, and Akero acquisition (USD 4.7B + USD 0.5B CVR), Major capacity investments: DKK 60.1B capex in 2025, USD 5.6B further US manufacturing planned through 2028, Revenue more than doubled from DKK 141B (2021) to DKK 309B (2025), 22% CAGR

Risk factors: US pricing pressure including Medicare Part D MFP acceptance effective January 2027, Intense competition from Eli Lilly's tirzepatide (Mounjaro +125%, Zepbound +80%), Compounded semaglutide grey market with ~1M US patients; 10% of Wegovy prescriptions now cash market, Patent cliffs: semaglutide expires China 2026, some International Operations markets 2026, US 2032, 2026 guidance projects adjusted sales and profit contraction of 4-12%, Restructuring cutting 9,000 positions (5,000 in Denmark); DKK 9B Q3 restructuring charge, Share price collapsed 48% during 2025 (DKK 624 to DKK 325), High revenue concentration: GLP-1 semaglutide products ~74% of group revenue, New CEO transition (Maziar Mike Doustdar) during period of significant challenges

Revenue by geography

Revenue by product/service

Workforce by country

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