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Novo Nordisk Fonden

Novo Nordisk Fonden is a Danish philanthropic foundation that owns the Novo Nordisk Group and holds a controlling interest in Novonesis. Through its ownership and grant-making activities, it combines long-term stewardship of industrial assets with support for research, innovation, and education.

Kysy yhtiöstä
Liikevaihto384,7mrd DKK
+12,2 %v/v
Liikevoitto (EBIT)132,6mrd DKK
−9,4 %v/v
EBIT-marginaali34,5%
−8,2 %-yks.v/v
Nettotulos104,3mrd DKK
−17,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2022–2025

0100200300400mrd DKK2022: 208,2 mrd DKK2022: EBIT 61,0 mrd DKK20222023: 269,1 mrd DKK2023: EBIT 113,8 mrd DKK20232024: 342,8 mrd DKK2024: EBIT 146,3 mrd DKK20242025: 384,7 mrd DKK2025: EBIT 132,6 mrd DKK2025384,7132,6
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Novo Nordisk Fonden

Liiketoiminta

Osuus liikevaihdosta
Grant-making60 %

Funding for research, innovation, education, and standalone projects.

Ownership stewardship25 %

Long-term control and governance of the Novo Nordisk Group and other holdings.

Investment income15 %

Returns and distributions from owned companies and financial assets.

Asiakkaat

The Foundation's direct beneficiaries are researchers, universities, and educational institutions that receive grants and project support. Indirectly, its governance and capital allocation activities affect the Novo Nordisk Group, Novonesis, and other affiliated holdings. Its grant process also serves expert committees and advisory bodies that review applications and shape funding decisions.

Research institutions

Universities and research centers that receive funding for scientific programs and projects.

Education beneficiaries

Schools, training programs, and education initiatives supported through grants.

Owned operating companies

Novo Nordisk Group and other holdings that depend on long-term ownership and governance.

Innovation projects

Standalone and strategic initiatives funded to advance science, health, and innovation.

Strategia

The Foundation's strategy is to allocate capital through grants while preserving long-term control of key industrial holdings. It uses committees, advisory panels, and peer review to direct funding toward research, innovation, and education with a high level of selection discipline.

Disciplined grant allocationLyhyt aikaväli

The Foundation wants funding decisions to remain fair, expert-led, and mission aligned.

Long-term ownership stewardshipPitkä aikaväli

Controlling holdings require stable governance and capital allocation over many years.

Targeted support for science and educationKeskipitkä aikaväli

Grant funding is the main way the Foundation advances its charitable mission.

Maantiede

Novo Nordisk Fonden is headquartered in Denmark and its activities are anchored there through governance, ownership, and grant administration. The Foundation supports projects internationally, but the report excerpt does not provide a formal geographic revenue split. Its exposure is therefore tied less to sales geography than to the countries where funded research, owned subsidiaries, and related stakeholders operate.

Riskit

The main risks are concentration in a small number of major holdings and dependence on the quality of governance and grant selection. As a foundation, it also faces legal, regulatory, and reputational risk around ownership rights, related-party transactions, and the fairness of grant allocation.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Concentration in major holdings1Grant-awarding disputes2Regulatory and legal challenge3
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Concentration in major holdingsVaikutus: KorkeaTodennäköisyys: Korkea

    A large share of value and governance influence is tied to a small number of affiliated companies.

    KohdistuuNovo Nordisk GroupNovonesis
  2. Grant-awarding disputesVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Funding decisions rely on committee judgment and eligibility rules, which can be challenged.

    Kohdistuu: Research and education grants

  3. Regulatory and legal challengeVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The report notes legal challenges related to the 340B program and changing legal landscape for related matters.

    Kohdistuu: Related ownership structures

Kysy Clarifolta: Novo Nordisk Fonden

Kirjanpito

Harkinnanvaraiset erät
Grant recognition timing

Expenses are recorded when the Foundation becomes obligated, affecting period-to-period comparability.

Vaikutus: Can shift reported operating results across periods

Consolidation of subsidiaries

The Foundation owns Novo Holdings and indirectly controls major industrial interests.

Vaikutus: Determines which entities are included in group accounts

Dividend and investment income

Returns from owned companies and investments are a key source of inflow.

Vaikutus: Affects reported income and distributable capacity

Fair value measurements

Financial assets and liabilities may require valuation estimates.

Vaikutus: Can create volatility in reported equity and profit

Päivitetty: 24.10.2026