Novo Nordisk Foundation

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Novo Nordisk Foundation
Novo nordisk foundation Logo.png
Founded1989; 30 years ago (1989) in Denmark
TypeFund
HeadquartersHellerup, Denmark
FieldsLife-sciences, natural sciences, social sciences
Endowment49.1 billion USD (331 billion DKK) in 2018[1]
Websitenovonordiskfonden.dk/en

The Novo Nordisk Foundation is an international foundation focusing on medical treatment and research. In 2018, the foundation had a net worth of US$49.1 billion (331 billion DKK), making it the largest financial endowment of any foundation in Denmark[2] and one of the largest endowments in the world.

Since 2010, the foundation distributed more than 1.3 billion US dollars for research, innovation, treatment, education and humanitarian and social purposes.[3] The Foundation typically distributes more than 300 million US dollars each year to research within the fields of Life- and Bioscience.[4] While the main focus lies within biomedicine and biotechnology research, the Foundation also awards grants for research in general practice and family medicine, nursing and art history.

History[edit]

The Novo Nordisk Foundation has a 90-year history. In 1922, Danish professor August Krogh received a permission to produce insulin in the Nordic countries. This sparked the development of new diabetes treatments and the beginning of a Danish business and export venture. Several foundations were also established which have subsequently merged into the Novo Nordisk Foundation.[5]

In recent years, the Foundation has increased its focus on innovation, diabetes treatment and grants for humanitarian and social purposes. In 2016 the Foundation awarded a little over 420 million US dollars to the Capital Region of Denmark to establish Steno Diabetes Center in Copenhagen, a diabetes treatment and research institution.[6][7]

Endowment[edit]

The Novo Nordisk Foundation is the primary owner of Novo Nordisk A/S and NovoZymes A/S through the foundation's subsidiary company Novo Holdings A/S.[8] Aside from Novo Nordisk and Novozymes, the foundation is also a major shareholder in more than 75 other companies. The foundation's financial endowment is maintained by dividends and returns on these investments.

Leadership[edit]

The current chairman of the Novo Nordisk Foundation is Sten Scheibye and Birgitte Nauntofte is the current CEO.[9]

See also[edit]

References[edit]

  1. ^ https://novonordiskfonden.dk/wp-content/uploads/NNF_ANNUAL_REPORT_2018.pdf
  2. ^ https://novonordiskfonden.dk/wp-content/uploads/NNF_ANNUAL_REPORT_2018.pdf
  3. ^ https://issuu.com/nnfoundation/docs/nnf_magazine_2015a
  4. ^ "Novo-fond fordobler støtte til forskning og gode formål".
  5. ^ http://novonordiskfonden.dk/en/content/history-novo-nordisk-foundation
  6. ^ https://www.linkedin.com/company/novo-nordisk-fonden
  7. ^ http://cphpost.dk/news/novo-nordisk-foundation-ready-to-centralise-diabetes-treatment-in-denmark.html
  8. ^ "Inside View: Novo Nordisk Foundation". Nature. 4 November 2015. doi:10.1038/nj0470.
  9. ^ http://novonordiskfonden.dk/en/content/board-directors