History of Novo Nordisk in Timeline

By Popular Timelines Editorial Team · Updated: May 16, 2025

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd. It has production facilities across nine countries, and affiliates or offices in five. Novo Holdings A/S controls Novo Nordisk, holding roughly 28% of its shares and a majority (77%) of the voting shares.

1922: Krogh's Lecture Tour and Insulin Discovery

In 1922, August Krogh and his wife Marie visited Toronto during a lecture tour, where they learned about the recent manufacturing of active insulin by Frederick Banting, Charles Best, and John Macleod.

1923: Establishment of Nordisk Insulinlaboratorium

In 1923, August Krogh joined forces with Hans Christian Hagedorn to start insulin production in Denmark, leading to the establishment of Nordisk Insulinlaboratorium company.

1925: Formation of Novo Terapeutisk Laboratorium

In 1925, brothers Harald and Thorvald Pedersen, former employees of Nordisk, established their own company, Novo Terapeutisk Laboratorium.

1982: Establishment in the United States

In 1982, Novo Nordisk established its presence in the United States.

1984: Establishment in Canada

In 1984, Novo Nordisk established its presence in Canada.

1986: Acquisition of Ferrosan Group

In 1986, Novo Industri A/S acquired the Ferrosan Group, which was later renamed "Novo Nordisk Pharmatech A/S."

1989: Merger to Form Novo Nordisk A/S

In 1989, Novo Industri A/S (Novo Terapeutisk Laboratorium) and Nordisk Gentofte A/S (Nordisk Insulinlaboratorium) merged to become Novo Nordisk A/S, the world's largest producer of insulin.

1989: Novo Nordisk Merger

In 1989, Novo Nordisk was created through the merger of two Danish companies that originated in the 1920s.

1989: Merger of Novo and Nordisk

In 1989, Novo Terapeutisk Laboratorium and Nordisk Insulinlaboratorium merged to form Novo Nordisk A/S.

1991: Demerger of Novo Nordisk Engineering

In 1991, Novo Nordisk Engineering (now NNE A/S) demerged to provide standard engineering services to pharma manufacturing companies.

1994: Spin-out of NNIT A/S

In 1994, Novo Nordisk's existing information technology units were spun out as NNIT A/S.

2000: Spin-out of Novozymes A/S

In 2000, Novo's enzymes business, Novozymes A/S, was spun out.

2001: DAWN 2001 Study

In 2001, Novo Nordisk conducted the DAWN (Diabetes Attitudes, Wishes and Needs) 2001 study, a global survey of the psychosocial aspects of living with diabetes, involving over 5,000 people with diabetes and almost 4,000 care providers, designed to identify barriers to optimal health and quality of life.

2004: Conversion of NNIT to Aktieselskab

In 2004, NNIT A/S was converted into a wholly owned aktieselskab.

2010: Breach of ABPI code of conduct

In 2010, Novo Nordisk breached the code of conduct for the Association of the British Pharmaceutical Industry (ABPI) by not providing information about the side-effects of Victoza and promoting Victoza before market authorization.

2010: Fortune's 100 Best Companies Ranking

In 2010, Novo Nordisk was ranked 25th among Fortune's 100 Best Companies to Work For.

January 2012: Most Sustainable Company

In January 2012, Novo Nordisk was named the most sustainable company in the world by Corporate Knights magazine.

2012: DAWN Follow-Up Study

In 2012, Novo Nordisk completed a follow-up study to DAWN, involving more than 15,000 people living with, or caring for, those with diabetes.

March 2013: Debate on incretin class medications

In March 2013, scientists debated whether the incretin class of diabetic medications, including Victoza, had an increased risk of pancreas side effects such as pancreatitis and pancreatic cancer, but concluded available data did not confirm these concerns.

October 2013: Recall of NovoMix 30 FlexPen and Penfill insulin

In October 2013, batches of NovoMix 30 FlexPen and Penfill insulin were recalled in some European countries because analysis showed a small percentage did not meet specifications for insulin strength.

2013: Payment to Danish tax authorities

In 2013, Novo Nordisk had to pay back 3.6 billion kr. to the Danish tax authorities due to transfer mispricing.

2013: Acquisition of Xellia

In 2013, Novo acquired Xellia for $700 million.

March 2014: Cities Changing Diabetes Partnership Program

In March 2014, Novo Nordisk announced a partnership program entitled ‘Cities Changing Diabetes,’ which entails combating urban diabetes, in partnership with University College London (UCL) and supported by Steno Diabetes Center.

September 2014: Discontinuation of research in inflammatory disorders

In September 2014, Novo Nordisk decided to discontinue all research in inflammatory disorders, including the R&D of anti-IL-20 for rheumatoid arthritis treatment.

November 2014: Harvard Medical Research Breakthrough

In November 2014, a newspaper article suggested that a recent medical research breakthrough at Harvard University (creating insulin-producing cells from embryonic stem cells) could potentially put Novo Nordisk out of business. Novo Nordisk's chief medical officer, Dr Alan Moses, commented that Novo Nordisk's mission is to alleviate and cure diabetes and if this new medical advance meant the dissolution of Novo Nordisk, that'd be fine.

2014: Fortune's 100 Best Companies Ranking

In 2014, Novo Nordisk was ranked 72nd in Fortune's 100 Best Companies to Work For.

March 2015: NNIT Floated on Nasdaq Nordic

In March 2015, NNIT was floated on the Nasdaq Nordic.

2015: Collaboration with Ablynx

In 2015, Novo Nordisk announced a collaboration with Ablynx to develop at least one new drug candidate using nanobody technology.

September 2017: Settlement over Victoza cancer risk disclosure

In September 2017, Novo Nordisk agreed to pay $58.7 million to end a United States Department of Justice probe into the lack of FDA disclosure to doctors about the cancer risk for their diabetic drug, Victoza.

2017: Fortune's 100 Best Companies Ranking

In 2017, Novo Nordisk was ranked 73rd in Fortune's 100 Best Companies to Work For.

January 2018: Attempted Acquisition of Ablynx and Acquisition of Ziylo

In January 2018, Reuters reported Novo Nordisk's offer to acquire Ablynx for $3.1 billion, which was rejected. Later in the same year, Novo Nordisk announced it would acquire Ziylo for around $800 million.

September 2018: Layoffs to concentrate on innovation

In September 2018, Novo Nordisk announced it would lay off 400 administrative staff, laboratory technicians, and scientists in Denmark and China to focus research and development efforts on "transformational biological and technological innovation".

March 2020: Testing for SARS-CoV-2

In March 2020, Novo volunteers started testing samples for SARS-CoV-2 using RT-qPCR equipment to increase testing capacity during the coronavirus pandemic.

November 2021: Acquisition of Dicerna Pharmaceuticals

In November 2021, Novo Nordisk announced it would acquire Dicerna Pharmaceuticals and its RNAi therapeutics for $3.3 billion.

September 2022: Acquisition of Forma Therapeutics

In September 2022, Novo Nordisk agreed to acquire Forma Therapeutics for $1.1 billion to expand its portfolio in sickle cell disease and rare blood disorders.

2022: Economic Impact in Denmark

In 2022, the popularity of Novo's Wegovy and Ozempic significantly increased the growth of the entire economy of Denmark, with two-thirds of the country's overall economic growth attributed to the pharmaceutical industry.

March 2023: Suspension from ABPI

In March 2023, Novo Nordisk was suspended from the ABPI for two years for misleading marketing practices, and the Royal College of General Practitioners and the Royal College of Physicians ended their corporate partnerships. The Novo Nordisk UK General Manager, Pinder Sahota, resigned as President of the ABPI before the suspension.

August 2023: Acquisition of Inversago Pharma and Embark Biotech

In August 2023, Novo Nordisk agreed to acquire Inversago Pharma for $1 billion and Embark Biotech for up to $500 million.

September 2023: Collaboration with UNICEF

In September 2023, Novo Nordisk and UNICEF announced a multi-year expansion of their collaboration to address childhood overweight and obesity.

October 2023: Acquisition of Ocedurenone and Legal Action Against KBP Biosciences

In October 2023, Novo Nordisk announced it would acquire ocedurenone from KBP Biosciences for $1.3 billion. After a failed clinical trial, Novo Nordisk initiated legal action against KBP, seeking up to $830 million in damages and freezing KBP's assets.

November 2023: Investment in French Production Facility

In November 2023, Novo Nordisk announced an investment of €2.1 billion in a French production facility to increase the production capacity and manufacturing of its popular anti-obesity medication.

2023: Significant Hiring Expansion

In 2023 alone, Novo Nordisk hired over 10,000 people to support its shift towards a more ambitious mission to "defeat serious chronic diseases".

2023: Market Capitalization and Revenue in 2023

In 2023, Novo Nordisk's market capitalization exceeded the GDP of Denmark's domestic economy, making it the highest valued company in Europe, with revenue reaching US$33.724 billion.

2023: Increased Profits Due to Weight Loss Drugs

In 2023, Novo Nordisk's profits increased by 45% year over year in the first half of the year, largely due to its weight loss drugs, Wegovy and Ozempic, which accounted for 55% of the company's revenue.

February 2, 2024: Multidistrict Litigation Ordered

On February 2, 2024, The United States Judicial Panel on Multidistrict Litigation ordered that 55 lawsuits pending in federal courts be consolidated into a multidistrict litigation. The Ozempic Lawsuits allege gastroparesis ileus and other injuries caused by GLP-1 RAS. The Case is known as MDL No. 3094 In Re: Glucagon-Like Peptide-1 Receptor Agonists (GLP-1 RAS) Products Liability Litigation.

February 2024: Acquisition of Catalent by Novo Holdings and Manufacturing Facilities by Novo Nordisk

In February 2024, Novo Holdings A/S agreed to acquire Catalent for $16.5 billion. Upon completion, Novo Nordisk planned to acquire three manufacturing facilities from its parent for $11 billion to scale up production of Wegovy and Ozempic.

March 2024: Market Capitalization Record and Acquisition of Cardior Pharmaceuticals

In March 2024, Novo Nordisk reached a $604 billion market capitalization, becoming the 12th most valuable company in the world. The company also announced it would acquire Cardior Pharmaceuticals and its cardiovascular disease portfolio for up to $1.1 billion.

April 2024: Novo Nordisk's Economic Dominance in Denmark

As of April 2024, Novo Nordisk's weight-loss drugs solidified its status as the most valuable company in Europe. Its $570 billion market capitalization exceeded Denmark's entire economy, and its growth was driving nearly all of the country's economic expansion. The company's $2.3 billion income tax bill for 2023 made it the largest taxpayer in the country.

May 2024: Acquisition of Single Use Support

In May 2024, Novo Nordisk announced it would acquire Austrian fluid management service business, Single Use Support.

June 2024: New Production Plant in Clayton, North Carolina and Plans to acquire Catalent

In June 2024, Novo Nordisk announced plans to build a new production plant in Clayton, North Carolina, at a cost of $4.1 billion for production of semaglutide products Ozempic and Wegovy. The company also announced plans to acquire US-based Catalent to increase production supply.

July 2024: Lawmakers target drug pricing in the US

In July 2024, US President Joe Biden joined Sanders in stating "Novo Nordisk and Eli Lilly must stop ripping off Americans with high drug prices." Novo Nordisk drug pricing in the US has been a target of lawmakers. The committee investigation found Novo Nordisk's drug Ozempic priced for $969 per month in the US, compared to $155 in Canada and $59 in Germany. Its weight-loss drug Wegovy is priced for $1,349 per month in the US compared to $140 in Germany and $92 in the UK.

August 6, 2024: Active Ozempic Lawsuits

As of August 6, 2024 there were 235 active Ozempic lawsuits.

September 2024: CEO summoned to testify

In September 2024, Novo Nordisk CEO Lars Fruergaard Jørgensen was summoned to testify to the US Senate Health, Education, Labor and Pensions Committee in Washington DC. During the hearing Senator Bernie Sanders told the Novo Nordisk CEO, "Stop Ripping Us Off."

October 2024: Second Most Valuable Drug Company

As of October 2024, Novo Nordisk was the second most valuable drug company in the world by market capitalization, only behind its competitor Eli Lilly and Company.

October 2024: Publication of Novel Glucose-Sensitive Insulin Study

In October 2024, Novo Nordisk published a study in the scientific journal Nature about a novel glucose-sensitive insulin NNC2215 that can reduce the risk of hypoglycemia in animal models.

2024: Fiscal Year 2024 Earnings

For the fiscal year 2024, Novo Nordisk reported earnings of DKK 101 billion (around 14.5 billion USD), with an annual revenue of DKK 290.4 billion (around 42.1 billion USD), an increase of 25% over the previous fiscal cycle.

March 2025: Direct-to-Consumer Offering of Wegovy

In March 2025, Novo Nordisk announced new plans for a direct-to-consumer offering of its Wegovy weight loss drug through a new pharmacy, NovoCare, charging customers $499 per month.