- February 3, 2009 - Novo Nordisk, the world leader in diabetes care, is pleased to announce its fifth consecutive annual report with the company's financial and non-financial performance in one inclusive document. Novo Nordisk has reported environmental performance for 15 years and social performance for 10.
During fiscal year 2008, Novo Nordisk:
- Increased sales by 12% (measured in local currencies) and by 9% in Danish kroner to DKK 45,553 million compared to the prior year.
- Increased reported operating profit by 38% to DKK 12,373 million compared to 2007.
- Maintained global leadership in diabetes care with 52% of the total insulin market and 44% of the modern insulin market.
- Reduced CO2 emissions by 9% and water consumption by 17% even as production and sales increased.
- Launched a programme to provide sustainable diabetes treatment for children in the world's poorest countries.
The company's 2008 report discusses key challenges and strategic initiatives to develop the business in order to meet targets and sustain long-term value creation. It also explains Novo Nordisk's way of doing business as a values-based company guided by a vision.
Novo Nordisk's 2008 report follows current international standards for mandatory and voluntary reporting
- International Financial Reporting Standards (IFRS).
- AA1000 Assurance Standard (2003).
- US Sarbanes–Oxley Act requirements for documenting and reporting on the effectiveness of internal controls for financial reporting. Novo Nordisk embarked in 2008 on a process of structuring the control environment for non-financial data with the aspiration to have full alignment with the control environment for financial data.
- The accountability standard, the AA1000 Framework.
- Global Reporting Initiative (GRI) G3 Sustainability Reporting Guidelines.
- UN Global Compact, Communication on Progress.
In the absence of global standards for inclusive reporting, Novo Nordisk's annual report is prepared in respect of current best practice for financial and non-financial reporting, respectively. This includes applying the principles of materiality, completeness and responsiveness.
Novo Nordisk has chosen to apply the term 'non-financial reporting' to performance on sustainability driven issues. The company's annual report includes both financial statements and non-financial statements, while the narrative parts of the report present the company's performance from an inclusive perspective.
The report is available online, along with information supplementing the report PDF, at http://annualreport2008.novonordisk.com
About Novo Nordisk
Novo Nordisk is a healthcare company and a world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as haemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs more than 27,000 employees in 81 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol 'NVO'. For more information, visit novonordisk.com.