Company Overview of Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity Care, and Biopharmaceuticals. The Diabetes and Obesity Care segment provides insulins, GLP-1 analog, and oral anti-diabetic drugs, as well as other protein related products comprising glucagon, protein related delivery systems, and needles. The Biopharmaceuticals segment offers products in the areas of haemophilia care, growth hormone therapy, and hormone replacement therapy. The company markets and distributes its products through distributors and independent agents. Novo Nordisk A/S was founded in 1...
Founded in 1925
Key Executives for Novo Nordisk A/S
President & CEO
Total Annual Compensation: kr8.7M
CFO & Executive VP
Total Annual Compensation: kr10.0M
Executive VP & Chief Science Officer
Total Annual Compensation: kr10.0M
Compensation as of Fiscal Year 2015.
Novo Nordisk A/S Key Developments
Novo Nordisk Announces New Analyses from the Multinational, Double-Blinded DEVOTE Trial
Sep 15 17
Novo Nordisk announced new analyses from the multinational, double-blinded DEVOTE trial showing that people with type 2 diabetes who experience severe hypoglycaemia (low blood sugar levels) are at greater risk of death. The risk was four-fold higher 15 days after an event and two and a half-fold higher anytime following an episode of severe hypoglycaemia. In addition, results also showed that daily fluctuations in blood sugar levels in people with type 2 diabetes are associated with a higher risk of death. The results were presented at the European Association for the Study of Diabetes 53rd Annual Meeting (EASD) and simultaneously published in Diabetologia. Studies have also shown that Tresiba provides significantly lower variability in blood sugar levels compared to insulin glargine U100 and U300.
Berg & Androphy Reaches $46.5 Million Settlement in False Claims Act Case over Alleged Illegal Marketing of Novo Nordisk Diabetes Drug Victoza
Sep 6 17
Joel M. Androphy and Sarah M. Frazier of the Berg & Androphy law firm, along with the U.S. Department of Justice (DOJ) and 50 state Medicaid programs plus the District of Columbia and the City of Chicago, have reached settlements in False Claims Act (FCA) litigation against Novo Nordisk and their subsidiaries. Their case, filed on behalf of the U.S. government by the first of multiple whistleblowers to bring suit on similar allegations, charged that Novo Nordisk illegally marketed Victoza and profited from its alleged deception through fraudulently garnered reimbursement from Medicare Part D and Medicaid. The Food and Drug Administration (FDA) approved Victoza in January of 2010 for the adjunct treatment of Type 2 diabetes. It carries a so-called black box warning concerning the risk of medullary thyroid cancer. The settlement encompasses allegations that upon product launch, Novo Nordisk downplayed Victoza's risk of causing medullary thyroid cancer, creating a false or misleading impression with physicians that the Risk Evaluation and Mitigation Strategies (REMS) safety warning that had been mandated by the FDA was erroneous, irrelevant, or unimportant. The settlement encompasses the further allegations that Novo Nordisk encouraged the sale and use of Victoza by adult patients who did not have Type 2 diabetes. In resolving its liability, Novo Nordisk agreed to pay the United States and the States a total sum of $46.5 million for the release of False Claims Act claims covering the conduct alleged by the suits against the company. Novo Nordisk has also agreed to pay $12.15 million to settle alleged violations of the Federal Food, Drug, and Cosmetic Act (FDCA).
Novo Nordisk Reaches USD 58.65 million Settlement with US Department of Justice over Allegedly Illegal Marketing for Victoza
Sep 6 17
Novo Nordisk (Denmark) has agreed to make a slightly higher-than-expected payment of USD 58.65 million to end a federal investigation by the US Department of Justice (DoJ) related to the company's diabetes medication marketing practices. The investigation was launched in February 2011 into sales and marketing activities concerning Novo Nordisk's leading type 2 diabetes drug Victoza (liraglutide). The financial terms of the agreement mean that Novo Nordisk will pay about USD 46.5 million as settlement to the federal government and to US states responsible for reimbursing Victoza under the Medicaid programme. This will be broken down as USD 43.1 million in payments to the federal government, while state Medicaid programmes will receive USD 3.3 million. Furthermore, Novo Nordisk has agreed to pay USD 12.15 million to resolve complaints lodged by the US administration on behalf of the FDA.
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February 2, 2017