Submitted by: Novo Nordisk
Posted: Mar 30, 2011 – 08:00 AM EST
BAGSVAERD, Denmark, Mar. 30 /CSRwire/ - In its second Blueprint for Change Programme business case, Novo Nordisk reports that its Triple Bottom Line business principle, balancing economic, social and environmental decisions, has created value for both the Chinese society and Novo Nordisk.
The study, conducted by Novo Nordisk in collaboration with Accenture, confirms the relationship between Novo Nordisk's market entry strategy, including physician training, patient education and local production, and the value created for both Novo Nordisk and the Chinese society by reducing the personal and economic burden of diabetes.
"We do business based on the Triple Bottom Line business principle because we believe this is the way to maximise value on multiple dimensions," says Ole Kjerkegaard Nielsen, Programme Director, Business Integration at Novo Nordisk. "The Blueprint on China demonstrates that this is happening."
The shared value in training
Conducted in 2010, the study highlights Novo Nordisk's training of 220,000 physicians and 280,000 people with diabetes as a driver of shared value. According to the study, since 1997, patient education has saved the Chinese society DKK 3.7 billion by reducing diabetes related complications while increasing sales for Novo Nordisk by DKK 596 million. Additionally, Novo Nordisk's investments in strengthening the local healthcare system have built strong relationships for the company with local stakeholders including people with diabetes and healthcare professionals.
Producing locally to reduce environmental impact
The study also details Novo Nordisk's initiatives to reduce CO2 emissions through a state of the art production facility in Tianjin, China which was established with a 20% CO2, energy and waste reduction target compared to the current best in class production facility in Brazil. The production facility will make better use of localised suppliers and reduce product distribution distances, saving 25,000 tons of CO2 from 2012 to 2018.
Novo Nordisk in China
Novo Nordisk has been operating in China for nearly 50 years and is the company's third largest market. Novo Nordisk currently holds 63% of the total insulin market and 70% of the modern insulin market, both measured in volume. The Novo Nordisk affiliate office, production site and research and development centre contribute to 14,600 direct and indirect jobs. In 2011, China became a separate region in the organisation of Novo Nordisk's business markets.
Read the complete Blueprint for Change: Changing diabetes in China.
About the Blueprint for Change Programme
Novo Nordisk's 'Blueprints for Change' Programme articulates and communicates the sustainable value created through Novo Nordisk's Triple Bottom Line business approach. The Programme is used to reach out to and engage with stakeholders to gauge external perspectives and expertise that can inspire and enable innovation and increased beneficial impacts.
For more information go to http://www.novonordisk.com/sustainability/How-we-manage/blueprints.asp.
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