Novo Nordisk AS (Novo Nordisk), is a healthcare and pharmaceutical company primarily engaged in the discovery, development, manufacturing, and marketing of pharmaceutical products. The company specializes in discovering, developing, and delivering innovative biological medicines, particularly for diabetes, obesity, and rare blood and endocrine diseases. The company focuses on therapy areas such as diabetes, obesity, and rare blood and endocrine diseases. It also provides treatment for growth disorders, haemophilia, sickle cell disease, metabolic dysfunction-associated steatohepatitis (MASH), cardiovascular disease, and Alzheimer's disease. The company offers insulin products such as Tresiba, Levemir, and NovoRapid, as well as GLP-1 receptor agonists like Ozempic and Victoza. It also provides haemophilia treatments like NovoSeven and growth hormone therapies such as Norditropin.

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Novo Nordisk's R&D arm focuses on developing multi-target medicines that address weight, blood glucose, cardiovascular risk, and related comorbidities. The company's innovation engine is built on its leadership in incretin biology, exemplified by semaglutide, and is now advancing dual and triple agonists for more comprehensive outcomes tailored to different patient needs. The key assets include CagriSema, a once-weekly combination therapy in phase 3 trials, and zenagamtide, a novel unimolecular GLP-1 and amylin receptor agonist in phase 3 development for obesity and diabetes. The company is also leveraging AI and digital technologies to accelerate its pipeline and decision-making, while considering manufacturability and supply considerations earlier in drug development to enhance speed and efficiency. Novo Nordisk's R&D activities are managed through its research and development centers located in Denmark, the US, the UK, and China. The R&D centers in Denmark focus on innovation, protein and peptide engineering, and preclinical testing. The center in China plays a key role in the discovery of novel drug candidates, while the center in India provides data management, biostatistics, and other support for clinical trials. The UK centers focus on device innovation and digital talent cultivation, and the US centers are involved in RNAi technology and the development of novel therapeutics for rare diseases. The company has a robust R&D pipeline with numerous products in various phases of development, including phase 1, phase 2, and phase 3 trials. The company is also involved in major technology alliances, particularly in RNA interference (RNAi) and genome editing, to advance its research and development efforts. In FY2025, the company spent DKK52,039 million on its R&D, which as a percentage of revenue stood at 16.8% and grew 8.3% YoY.