Donations
World Diabetes Foundation
In financial terms, Novo Nordisk's biggest single commitment is its annual donation to the World Diabetes Foundation. At the company's Annual General Meeting in 2002, the shareholders made an agreement obliging the company over a 10-year period to make an annual donation of 0.25% of the net insulin sales for the preceding financial year (not to exceed 65 million Danish kroner or 15% of taxable income). In 2006 the donation amounted close to 62 million Danish kroner.
The Novo Nordisk Haemophilia Foundation (NNHF)
The Novo Nordisk Haemophilia Foundation was set up in 2005 as part of the company’s commitment to social responsibility within haemophilia care. It is also a response to the significant need to improve haemophilia treatment in developing countries. NNHF supports sustainable local and regional projects as well as the advancement of relations between healthcare professionals, patient associations and authorities within the haemophilia community. NNHF operates on an annual donation of approximately 10 million Danish kroner from Novo Nordisk.
Other donations
In addition to the above foundations, Novo Nordisk has made a number of corporate and local donations, including 1 million Danish kroner to the Copenhagen Business School. This donation was made in the name of former CEO and Chairman of the Board of Directors Mads Øvlisen when he retired from the company in March 2006. In 2006 total corporate and local donations amounted to 224 million Danish kroner.
Global and local impact
Besides making financial donations, Novo Nordisk contributes to socio-economic welfare by securing and creating employment, by developing the competences of its employees, and by making products and offering services that provide better health for people with diabetes and others whose healthcare needs are served by the company. The economic stakeholder model illustrates Novo Nordisk, its economic stakeholders, and the interactions that drive economic growth in society.
Education and health infrastructure
As a response to the diabetes pandemic, Novo Nordisk is driving a number of activities to raise awareness of diabetes and improve healthcare systems. Corporate investments are modest in financial terms when compared with the impact and the local benefits. 2006 activities in this area include the following:
- The DAWN programme (Diabetes Attitudes, Wishes and Needs)
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