Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2022-12-31 | 241257000000 | dkk |
| ifrs-full:Assets | 2021-12-31 | 194508000000 | dkk |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2022-01-01 | 2022-12-31 | 176954000000 | dkk |
| ifrs-full:Revenue | 2021-01-01 | 2021-12-31 | 140800000000 | dkk |
| ifrs-full:Revenue | 2020-01-01 | 2020-12-31 | 126946000000 | dkk |
XML
See the xml submitted here:
XML: http://regnskaber.virk.dk/09765242/amNsb3VkczovLzAzLzEyL2Q5LzcxLzRkLzAwMTQtNGVhZC1hMGVlLTg3MGIyODkwNTkxOA.xml
Separator
The full data:
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<gsd:IdentificationNumberCvrOfSubmittingEnterprise contextRef="ctx-1" xml:lang="en">24256790</gsd:IdentificationNumberCvrOfSubmittingEnterprise>
<mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="pp-value-11-1" xml:lang="en">A diverse and inclusive workplaceBeing a sustainable employer offering an inclusive and diverse working environment is an integr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ated part of being a sustainable business. In 2022, we were r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecognised as the best place to work at globally by "Best Places to W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ork".We fundamentally belie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ve that diversity of people and inclusive leadership drive value for Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk by increasing inno<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vation, enabling a diverse line of thought and pro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>viding all employees with equitable opportunities to realise their potential.Our aspirational tar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>gets T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>o underline our commitment to diversity and inclusion, accelerate pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ogress and ensure leadership accountability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, we launched three global aspir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ational targets in 2021: â <span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/>Create an inclusive cultur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e where all employees have a sense of belonging and equitable opportunities to realise their potential.â <span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/>Achieve a balanced gender r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>epresentation across all managerial levels.â <span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/>Achieve a minimum of 45% women and a minimum of 45% men in senior leadership positions by the end of 2025.We define balance as the r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ange between 45%-55% to leave up to 10% flexibility for women and men while also allo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>wing for non-binary gender<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, recognising that some emplo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>yees may not wish to be categorised. Gender is only one dimension of diversity and we fully recognise that diversity is any dimension that differ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>entiates<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> our people and enables a diverse line of thought â for example ethnicity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, race, age, nationality<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, disability status or sexual orientation. Due to legal constraints we curr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ently do not have<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> consistent global measures on all the aspects of diversity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Women in leadership (%)2018<span xmlns="http://www.w3.org/1999/xhtml" class="_ _47"> </span>2019<span xmlns="http://www.w3.org/1999/xhtml" class="_ _47"> </span>2020<span xmlns="http://www.w3.org/1999/xhtml" class="_ _47"> </span>2021<span xmlns="http://www.w3.org/1999/xhtml" class="_ _48"> </span>2022EVP/SVP<span xmlns="http://www.w3.org/1999/xhtml" class="_ _49"> </span>13<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>18<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>24<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>28<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4b"> </span>29CVP<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4c"> </span>31<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>33<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>37<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>39<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4b"> </span>40VP<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4d"> </span>35<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>35<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>36<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>36<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4b"> </span>40Senior leadership<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"> </span>32<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>33<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>35<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>36<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4b"> </span>39Director<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4e"> </span>41<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>43<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>41<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>44<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4b"> </span>44Manager and team lead<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4f"> </span>40<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>40<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>42<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>43<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4b"> </span>45All leaders<span xmlns="http://www.w3.org/1999/xhtml" class="_ _50"> </span>40<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>40<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>41<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4a"> </span>43<span xmlns="http://www.w3.org/1999/xhtml" class="_ _4b"> </span>44At the end of 2022, 44% of all leaders were women, and 39% of leaders in senior leadership positions were women compared to 43% and 36%, r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>espectively, at the end of 2021. Our aspirations in actionT<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>o mitigate bias we ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>e continuously re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>viewing our processes and policies throughout the emplo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>yee life cycle. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>o incr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>ease recruitment of diverse pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ofiles, we ensure a diverse slate of candidates and diverse recruitment panels 3. Excluding some populations and locations due to local regulations such as in the US, wher<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e a local process is in place. 4. "Equal Pay gap" is defined as the employee'<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>s pay being significantly above or below the e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>xpected pay given the employee's job le<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vel, tenure, job family and other parameters.in hiring processes. At the end of 2022, 49% of all ne<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>w leaders were women, and 45% of all ne<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>w senior leaders were women, compared to 48% and 50%, r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>espectively, at the end of 2021. In addition, we are ensuring a str<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ong pipeline of diverse talent and inclusive leaders via succession management and talent progr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ams.T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>o mitigate bias in pay pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>ocesses and decisions, we conduct yearly equal pay re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>views and take actions in case of any 3identified pay gaps. Out of the more than 43,000 positionscover<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed in the pay revie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>w in 2022, we identified 0.6% with an 4equal pay gap and we are taking corr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ective action. We ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e continuously challenging the customary ways of working<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> and in early 2022, we launched a new global par<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ental leave<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> policy offering a minimum of eight weeks paid leave within the first year of becoming a parent to all non-birthing par<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ents<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> globally<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, regardless of gender<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Our ambition is that r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecognition<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> of the non-birthing parents' right to leave will r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esult in greater inclusion and equality for parents â both at work and at home.Our leaders are held accountable We e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>xpect all our leaders to embrace their role as inclusive leaders by being committed to building diverse teams of complementary strengths, valuing diverse skills, e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>xperiences and perspectives and creating a psychologically safe space in which all employees feel fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ee to speak up.T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>o measur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>e the state of inclusion at Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk, we have introduced our global âInclusion Inde<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>xâ as part of our annual employee engagement surve<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y. Of the mor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e than 39,000 employees who completed the surve<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y in 2022, 82% rated the inclusion statements favourable, compar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed to 78% in 2021. We r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecognise that there is no one-size-fits-all approach and that diversity and inclusion challenges and opportunities vary depending on the local context and the societies that we serve. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>o ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>e that we consider the local context, drive impact at all levels and hold our leaders accountable for driving progr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ess, all our senior leaders across the company have been asked to define local diversity and inclusion aspirations and associated action plans.Finally<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, progress on diversity and inclusion has been anchor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed in both short-term and long-term incentive progr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ammes and we follow up and tr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ack developments on a regular basis.Statutory gender reporting under Danish lawListed companies are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>equired to set a target for the shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>e of the underrepr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esented gender on the Board of Directors. As of 1 January 2023, listed companies are also r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>equired to set a target as well as a policy for the shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>e of the 5underrepr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esented gender in upper management.Status and targets for the share of the underr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>epresented 6gender in Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk A/S (2022)T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>otal / share of the T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>arget for the shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e of underrepr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esented<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _15"/><span xmlns="http://www.w3.org/1999/xhtml" class="ls2 ws2"> </span>the underrepr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esented gender in %gender / target date7Board of Dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ectors9 / 33%<span xmlns="http://www.w3.org/1999/xhtml" class="_ _51"> </span>Not requir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>edUpper 8management19 / 38%<span xmlns="http://www.w3.org/1999/xhtml" class="_ _22"> </span>Min. 45% / 2025As of 31 December 2022, the Board of Dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ectors is regarded as having equal gender repr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esentation and is therefore not 9legally requir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed to set a gender target for the Board. One of the most significant activities in 2022 to obtain equal gender repr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esentation was the election of a female Board member at the Annual General Meeting. As diversity r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>emains important for the Board, it has maintained a voluntary 2024 tar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>get of having at least three shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eholder-elected Board members who are men and thr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ee who are women. We have adopted a diversity and inclusion policy to incr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ease the<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> share of the underr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>epresented gender in upper management. The policy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>'<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>s most significant activities aimed at reaching the gender target ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>e described on page 18. In 2022, the share of women in upper management at Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk A/S was 38%,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> so we have not yet achieved the tar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>get level of 45% women in upper management. The target is ambitious, ho<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>wever pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ogress has been made in 2022 compared to 2021 and we still belie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ve<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> the target will be r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>eached by 2025.5. Cf. the Danish Companies Act, section 139 (c). 6. Cf. the Danish Financial Statements Act. section 99(b). 7. Shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eholder-elected Board members of Novo Nordisk A/S. 8. The upper management of No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordisk A/S includes the chief executive officer and e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>xecutive vice presidents employed b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y Novo Nordisk A/S as well as their direct r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eports, also employed by Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk A/S, with leadership responsibility. 9. Cf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. the Danish Companies Act, section 139(c)(1)(1).</mrv:StatementOfTheDiversityPolicies>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx-1" id="pp-value-19-1" xml:lang="en">Sustainable tax approach Our over<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>all guiding principle within taxation is to have a<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> sustainable tax approach, emphasising our business-anchor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> approach to managing the impact of tax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>es while remaining true to the Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk values of operating our business in a responsible and tr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ansparent manner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Our legal structures ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> based on business-anchored consider<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ations and substance.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> Consequently<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, we pay tax where value is generated and always respect international and domestic tax rules. As a global business, we conduct cross-bor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>der trading, which is subject to transfer pricing r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>egulations. We apply a "Principal structure<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>" in line with OECD principles, meaning all legal entities, ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>cept<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> for the principals, perform their functions under contract on behalf of the principals. As a result, entities contr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>acted by the principals are being allocated an activity-based pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ofit according to a benchmarked profit mar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>gin. The tax outcome of this operational model is r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eflected in the overview on the right, which shows our corpor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ate income taxes by r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>egion.T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>o ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>e alignment between tax authorities regar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ding the allocation of profit between our entities, we have Advance Pricing Agreements and similar tax rulings in place for geographies r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>epresenting around 65% of our r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>evenue worldwide.Our tax policy has been appro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ved by the Board of Dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ectors. Read more about this at no<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vonordisk.com.In addition to corporate income tax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>es, we also pay other taxes. Please r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>efer to note 8.7 on T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>otal tax contribution for further information.î¦îîîîîîîîîîîîîîîîîîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>îîîî
îîîîîîîîîî îîîîîîîîîîîîîîîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>îîîîï³ï±ï³ï±îï³ï±ï³ï³ <span xmlns="http://www.w3.org/1999/xhtml" class="fc1">Share of category</span> <span xmlns="http://www.w3.org/1999/xhtml" class="ff4 fc1">Signiîºcant activities <span class="_ _52"> </span></span> <span xmlns="http://www.w3.org/1999/xhtml" class="fc1">Minor or no activities</span>Corporate income T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>otal tax Intellectual taxescontribution<span xmlns="http://www.w3.org/1999/xhtml" class="ls2 ws2"> </span>property(DKK (DKK <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f"/><span xmlns="http://www.w3.org/1999/xhtml" class="ls2 ws2"> </span>789RegionrightsProductionSalesbillion) billion)International Operations <span xmlns="http://www.w3.org/1999/xhtml" class="_ _53"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff2 ls24 ws24">11.0<span class="_ _54"> </span>26.0</span>Denmark<span xmlns="http://www.w3.org/1999/xhtml" class="_ _55"> </span>9.6<span xmlns="http://www.w3.org/1999/xhtml" class="_ _54"> </span>16.4EMEA (ex Denmark)<span xmlns="http://www.w3.org/1999/xhtml" class="_ _56"> </span>0.7<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1e"> </span>4.8China<span xmlns="http://www.w3.org/1999/xhtml" class="_ _57"> </span>0.4<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1e"> </span>2.2Rest of World<span xmlns="http://www.w3.org/1999/xhtml" class="_ _58"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws24">0.3<span class="_ _1e"> </span>2.6</span>North America Operations<span xmlns="http://www.w3.org/1999/xhtml" class="_ _59"> </span>1.0<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1e"> </span>5.7The US<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5a"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws24">0.8<span class="_ _1e"> </span>5.6</span>T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>otal three year aver<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>age<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5b"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws24">12.0<span class="_ _54"> </span>31.7</span>7. Intellectual property rights based on sales from wher<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e intellectual property rights are loc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ated<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. 8<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Production based on number of production employees in the r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>egion. 9. Sales based on location of the customer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>.Respect for human rights We ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e committed to respecting human rights as per the UN Guiding Principles on Business and Human Rights (please refer to the Go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance section on page 21 and our ESG Portal<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> at no<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>vonordisk.com<span xmlns="http://www.w3.org/1999/xhtml" class="ws2">). In 2022, the Corpor<span class="_ _10"/>ate Human Rights<span class="_ _5"/> </span>Benchmark assessed Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk. While it rated us number one among the 30 largest companies in Denmark, we r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>ecognise our responsibility to continuously impr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ove the quality and effectiveness of our human rights due diligence across our operations and business r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>elationships. Our new global parental leave policy (page 18) is only one example of ho<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>w we implement<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> our human rights commitment, particularly in this case regar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ding employees' rights, as defined in our Human Rights Report (please refer to our ESG Portal at <span xmlns="http://www.w3.org/1999/xhtml" class="ws26">no<span class="_ _10"/>vonordisk.com).</span>Integrated r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eporting approachSustainability frame<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>works and performance We r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eport on our ESG performance in accordance with rele<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vant disclosure frame<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>works, including those of the Carbon Disclosure Pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>oject (CDP) and the Value Reporting Foundation (VRF) / Sustainability Accounting Standards Board (SASB), now part of the International Financial Reporting Standar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ds (IFRS) Foundation. This year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, we augmented our disclosures regar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ding the average list and net price of our US product portfolio and US insulin portfolio by incorpor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ating them into our ESG statement (please refer to note 8.6 on US pricing).We continue working on implementing r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecommendations from the T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _8"/>askforce on Climate-related Financial Disclosur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>es (TCFD), taking a step<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>wise approach to incorporating material climate-related risk-assessments into our go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance, strategy and e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>xecution on climate and environmentally related initiatives. As r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecommended, we work to identify, assess and mitigate short-, medium- and long-term climate-related risks within our oper<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ations and supply chain, such as flooding, storm surges, earthquakes, tornadoes and wildfir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>es that could disrupt production. Annually<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, we map risk levels from lo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>west to highest risk. Based on the assigned risk level, mitigation plans are implemented at pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>oduction site level.In addition to the TCFD<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, we have been working with the Science Based T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>gets initiative (SBTi) for a number of years, where our C<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>O emissions reduction tar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>gets for 2030 are 2validated in line with the target of limiting global warming to 1.5°C.We disclose our climate and water performance based on the CDP annually<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, in the areas of governance, risks and opportunities, strategy and impact. This enables us to monitor our progr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ess regarding envir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onmental stewardship.We will publish further information on our adher<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ence to selected frame<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>works on our ESG Portal at novonordisk.com on an ongoing basis. Please also refer to the consolidated ESG statement and to novonor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk.com for more information on our sustainability governance. RemunerationAs described in the Remuneration Report, e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>xecutive remuner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ation is linked to performance on financials as well as non-financials (e.g., innovation, sustainability). EU T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy 11The EU T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy is a European sustainability classification frame<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>work. It enables corporates to communicate to investors which of their business activities have the potential to be considered sustainable (i.e., ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e â<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _8"/>axonomy-eligibleâ) or can in fact be considered sustainable (i.e., ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e â<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _8"/>axonomy-alignedâ). For each rele<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vant business activity, the corpor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ate has to disclose how much of its T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>urno<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>ver<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, Operating Expenditures (OpEx) and Capital Expenditur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>es (CapEx) can be considered eligible and aligned, r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>espectively. The EU T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>âs curr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ently published environmental objectives on climate change mitigation and climate change adaption do not directly apply to the pharmaceutical sector<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Howe<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ver<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, we revie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>wed the relevant activities and assessed their applicability to our core business. Because of the nature of our business activities, we do not have any T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy-eligible T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>urnover<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Regar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ding OpEx, we apply the ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>emption and report this at zero. Ho<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>wever<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, we can report 13% T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy-eligible CapEx for two economic activities. Given the ambiguity around e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>videncing T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>axonomy alignment and lack of requir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed information to confirm adherence with technical screening criteria, we do not have any T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _8"/>axonomy alignment to disclose this year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Eligibility and alignmentWe follo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>wed a two-step process to arrive at our present T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy disclosures. Firstly<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, we screened the T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy rules<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> to create a list of economic activities that could potentially be eligible. The description of each economic activity was assessed against how we perform the economic activity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Then, after applying materiality considerations, we decided to report T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _8"/>axonomy-eligible CapEx for economic activities 7.1 and 7.2, i.e., regar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ding the construction of new buildings and the reno<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vation of existing buildings, respectively<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Secondly<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>,<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> we evaluated whether we could classify any of our T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _8"/>axonomy-eligible CapEx as T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy-aligned.<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> Accounting policies CapEx: T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>otal CapEx consists of additions to fix<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>ed assets (including Financial lease) and intangible assets. Additions resulting from business combinations ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e also included. Goodwill is not included in CapEx because it is not defined as an intangible asset in accordance with IAS 38. The CapEx KPI is defined as T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy-eligible CapEx (numerator) divided by total CapEx (denominator). OpEx: OpEx consists of direct non-capitalised costs that r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>elate to resear<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ch and development, building reno<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vation, short-term lease, maintenance and repair and any other dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ect expenditur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>es relating to the day-to-day servicing of property<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, plant and equipment assets. The OpEx KPI is defined as T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy-eligible OpEx (numerator) divided by total OpEx (denominator). Double counting: None of our activities contribute to multiple objectives. For the CapEx and OpEx allocations, we have identified the rele<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vant purchases and measures as well as the primary related economic activity in the Climate Delegated Act. Thereb<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y, we ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e that no CapEx or OpEx is double-counted. We ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e adjusting the R&amp;D cost for amortisations in order not to double count these costs, as the amortisation would also have been part of CapEx in prior years.Disaggregation of KPIs: Our identified economic activities do not requir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e disaggregation of KPIs. Contextual information about the CapEx KPI:Our T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy-eligible CapEx pertaining to the construction of new buildings and the r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>enovation of existing buildings mainly relates to the e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>xpansion of production capacity by either building new facilities or impr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>oving existing facilities to expand yield. Looking aheadWe will keep focusing on the r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>equirements of the evolving EU T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onomy as we expect future rules to also apply to our sector directly<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. </mrv:StatementOfCorporateSocialResponsibility>
<mrv:CorporateGovernanceReport contextRef="ctx-1" id="pp-value-23-1" xml:lang="en">Corporate Go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernanceGovernance structur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e The shareholders of No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordisk ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ercise their rights at the Annual General Meeting, which is the supr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eme governing body of the company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. The general meeting inter alia adopts the company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>â<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>s Articles of Association, approves the Annual Report and elects the Board of Dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ectors.Any shareholder has the right to r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>aise questions at general meetings. Resolutions can generally be passed b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y a simple majority<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. However<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esolutions to amend the Articles of Association requir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e two-thirds of the votes cast and capital repr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esented, unless other adoption requirements ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e imposed by the Danish Companies Act.Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk has a two-tier management structure consisting of the Board of Dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ectors and Executive Management. The governance structur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e and rules of Novo Nordisk ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e further described in our Articles of Association and our Corporate Go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance Report, both of which are available at novonor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk.com. Foundation ownershipNovo Holdings A/S, a Danish company wholly o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>wned by the Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk Foundation, holds the majority of votes at general meetings. The combination of foundation ownership and stock listing enables Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk to embark on long-term sustainable strategies while maintaining short-term tr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ansparency on performance. Our foundation ownership supports the over<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>arching imperative to be both commer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>cially successful and responsive to the wider needs of society<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>.The objective of the Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk Foundation is to provide a stable basis for the commercial and r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esearch activities of Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk, Novozymes and other companies, as well as to support scientific, humanitarian and social purposes. Please refer to the illustr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ation on this page, focused on how we create value for society in conjunction with the No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordisk Foundation. For more information about the o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>wnership structure of No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordisk, see page 41.Corporate Go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance reporting Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk reports in accordance with the Danish Corporate Go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance Recommendations designated by Nasdaq Copenhagen as well as the Corporate Go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance Standards of the Ne<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>w Y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>ork Stock Exchange applicable to foreign private issuers. In 2022, No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordisk complied with the Danish Corporate Go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance Recommendations as we either complied with or explained our appr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>oach to the recommendations. Y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ou can find further information about our corporate go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance practices in our 2022 Corporate Governance Report, in accor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>dance with section 107b of the Danish Financial Statements Act, available at: www<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>.novonordisk.com/about/corpor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ate-governance.htmlNovo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk has prepared a separ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ate Remuneration Report describing the remuner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ation awarded or due during 2022 to the Board of Dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ectors and Executives register<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed with the Danish Business Authority<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. The Remuneration Report is submitted to the Annual General Meeting for an advisory vote. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"/> The Remuneration Policy and the Remuner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ation Report are available at: www<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>.novonor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk.com/about/corporate-governance.htmlReporting on diversity is included in the social responsibility section on pages 18 and 19, in note 8.5 on Gender diversity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, and for the Board of Dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ectors, also in the Corporate Governance Report. No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordiskâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>s diversity policy is available at www<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>.novonordisk.com/sustainable-business/esg-portal/principles-positions-and-policies/diversity-inclusion-policy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>.htmlDisclosure r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>egarding change of control pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ovisions 10The EU T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>akeo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ver Bids Directive, as partially implemented by the Danish Financial Statements Act, r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>equires listed companies to disclose information that may be of interest to the market and potential take-over bidders, in particular in relation to disclosur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e of change-of-control pro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>visions in material contracts. It is disclosed that Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk does not have any material contracts that take effect, alter or terminate upon a change of control of No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordisk following implementation of a takeover bid.In relation to the r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>egistered management of Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk A/S, the current emplo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>yment contracts allow for se<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>verance payments of up to 24 months' fixed base salary plus pension contributions in the event of a mer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>ger<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, acquisition or takeover of Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk.Governing Pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ocessesNovo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk Way The Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk Way is a set of guiding principles, which underpin every decision we make. W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e use a unique, systematic approach kno<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>wn as facilitation to ensure that 10. Directive 2004/25/EC.everyone lives up to the No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordisk Way<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. In 2022, 36 facilitations and nine special assignments were completed. Any issues are addr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>essed locally and a consolidated report is shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed with the Board of Directors and Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecutive Management. In 2022, 5 units were found not to be oper<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ating in full accordance with the No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordisk Way<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, a similar number to 2021. In most cases the root causes r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>elated to leadership competencies, style and behaviours not living up to the Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk Way<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>. Key impro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vement opportunities were primarily linked to Essentials 2 and 5: a) leadership<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/> teamâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>s ability to manage a larger and more comple<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>x organisation, b) lead units with a cohesive vision that is clearly communicated and understood and c) successfully implement organisational change.Company reputationThe Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk reputation score among ke<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y stakeholders (i.e., the informed general public, people with diabetes, people with obesity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, healthcare professionals and diabetes specialists) is an indicator of the extent to which we live up to societies' expectations. We achie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ved a reputation score of 82.3 points in 2022, measured on a scale of 0-100. In line with 2021, we continue to enjoy a better r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eputation than our peers, underpinned by the quality of our products and services' per<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ceptions, which are the most important r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eputational drivers. Business ethicsOur approach to business ethics is acting with integrity and in compliance with the Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk Way<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, our Business Ethics<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> Code of Conduct and international and local standards for responsible business conduct. Business ethics co<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vers anti-fraud, anti-bribery<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, anti off-label promotion, transpar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ency in dealing<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> with healthcare pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ofessionals and healthcare organisations, the protection of personal data, as well as r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>espect for human rights<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> with the aim of minimising any potential risks to our patients, business, people and stakeholders.Annual training in business ethics is mandatory for all employees, including all ne<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>w hires. In 2022, 99% of employees completed and documented their tr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>aining, with the remaining 1% missing mainly due to emplo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>yees being on leave. In 2022, 35 business ethics re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>views were completed with 98 findings, compared to 37 r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eviews with 129 findings in 2021. Consolidated findings are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eported to Executive Management and the Audit Committee. Group Internal Audit assesses that the le<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vel of business ethics compliance is sound. Management action plans and closure of findings progr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>essed as planned and there were no o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>verdue management actions or findings at the end of 2022. We have implemented a set of data and artificial intelligence ethics principles in our Global Ethics and Compliance Frame<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>work. These principles define Novo Nordiskâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>s ethical data management across the Gr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>oup and aim to promote a sound and ethical data culture within No<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vo Nordisk and in all business partner relationships. Ethical data management includes transpar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ency and accountability for decisions and processes involving the use of data. Product quality and supplier audits At the end of 2021, the contract manufactur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>er filling syringes ®for Wego<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vy failed an FDA inspection causing disruption in ®the supply of Wego<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vy in 2022. After implementing initiatives to impro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ve the compliance level ® at the contract manufactur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>er site, the production of Wego<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vywas resumed. In 2022, 150 inspections wer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e conducted, compared to 97 in 2021. At year-end, 113 inspections wer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e passed and 37 were unr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esolved, as final inspection reports had not been received or the final authority's acceptance was pending. Follow-up on unr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esolved inspections will continue in 2023. Please see note 9.4 on Failed inspections for further information. In 2022, a total of 294 supplier audits were conducted to assess compliance levels with our supplier standar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ds. In 2022, we had 3 product r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecalls from the market. Please see note 9.3 on Product r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecalls for further information. Financial and ESG assurance We ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e committed to ensuring the accuracy of our financial and ESG reporting. Our financial r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eporting and the internal controls of financial r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eporting processes are audited according to the Sarbanes-Oxle<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y Act by an independent audit firm elected at the Annual General Meeting. As part of our ESG responsibility<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, we voluntarily include an Assurance Report from an independent e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>xternal auditor for ESG reporting in the Annual Report. The assurance pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ovider re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>views whether the consolidated ESG statement is accurately pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esented.Our internal audit function pro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vides independent and objective assurance, primarily within internal contr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ol of financial processes, IT security and business ethics. As of 2022, our internal audit function also pro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vides assurance within internal control of ESG r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>eporting. As part of our ESG responsibility<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, the Audit Committee also oversees our ESG reporting. W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e thereby ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e that our ESG reporting is subject to the same robust go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance that applies to our financial reporting. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _8"/>o ensure that the internal audit function operates independently of Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecutive Management, its charter<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, audit plan and budget are appr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>oved by the Audit Committee. The Audit Committee must appro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ve the appointment, remuner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ation and dismissal of the head of the internal audit function.</mrv:CorporateGovernanceReport>
<fsa:AverageNumberOfEmployees contextRef="ctx-1" decimals="0" unitRef="pure">51046</fsa:AverageNumberOfEmployees>
<fsa:AverageNumberOfEmployees contextRef="ctx-38" decimals="0" unitRef="pure">46171</fsa:AverageNumberOfEmployees>
<fsa:AverageNumberOfEmployees contextRef="ctx-39" decimals="0" unitRef="pure">43759</fsa:AverageNumberOfEmployees>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="pp-value-171-1" xml:lang="en">The Board of Dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ectors and Executive Management have today considered and appro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ved the Annual Report for Novo Nordisk A/S for the financial year 1 January 2022 - 31 December 2022. The consolidated financial statements are pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esented in accordance with International Financial Reporting Standards as endorsed b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y the EU. The parent financial statements ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e presented in accordance with the Danish Financial Statements Act. Further<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, the Annual Report is prepared in accordance with Danish disclosur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e requirements for listed companies.In our opinion, the consolidated financial statements and the parent financial statements give a true and fair view of the Gr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>oupâs and the parentâs financial position at 31 December 2022 as well as of the results of their oper<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ations and cash flows for the financial year 1 January 2022 - 31 December 2022. Statement b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y the Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>d of Directors and Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecutive ManagementIn our opinion, the Management re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>view contains a fair revie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>w of the development of the Gr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>oup's and the parentâs business and financial matters, the results for the year and of the par<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ent<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>â<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>s financial position and the financial position as a whole of the entities included in the consolidated financial statements, together with a description of the principal risks and uncertainties that the Group and the par<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ent face.In our opinion, the Annual Report of Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>disk A/S for the financial year 1 January 2022 to 31 December 2022 identified as NOVO-2022-12-31.zip is prepar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed, in all material respects, in compliance with the ESEF Regulation.Novo Nor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>diskâs Consolidated Environmental, Social and Governance Statements have been prepar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ed in accordance with the reporting principles of materiality<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, inclusivity, responsiveness and envir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>onmental, social and governance accounting policies. The<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y give a true and fair account and a balanced and reasonable pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esentation of the organisationâs environmental, social and governance performance in accor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>dance with these principles.We r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecommend the Annual Report for adoption at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
<sob:PlaceOfSignatureOfStatement contextRef="ctx-1" xml:lang="en">Bagsværd</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx-1">2023-02-01</sob:DateOfApprovalOfAnnualReport>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-40" id="pp-value-177-1" xml:lang="en">Lars Fruergaard Jørgensen </cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-40" xml:lang="en">President and CEO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-44" xml:lang="en">Karsten Munk Knudsen </cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-44" xml:lang="en">CFO </cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-47" xml:lang="en">Helge Lund </cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-47" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-51" xml:lang="en">Henrik Poulsen </cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-51" xml:lang="en">Vice Chair </cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-54" xml:lang="en">Elisabeth Dahl Christensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-57" xml:lang="en">Jeppe Christiansen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-41" id="pp-value-179-1" xml:lang="en">Monique Carter </cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-45" xml:lang="en">Martin Holst Lange</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-48" xml:lang="en">Laurence Debroux </cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-52" xml:lang="en">Andreas Fibig</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-55" id="pp-value-196-1" xml:lang="en">Sylvie Grégoire </cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-58" xml:lang="en">Liselotte Hyveled</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-42" xml:lang="en">Marcus Schindler</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-46" xml:lang="en">Camilla Sylvest</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-49" xml:lang="en">Mette Bøjer Jensen </cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-53" xml:lang="en">Kasim Kutay</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-56" xml:lang="en">Christina Law</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-59" xml:lang="en">Martin Mackay</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-43" xml:lang="en">Henrik Wulff</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-50" xml:lang="en">Thomas Rantzau</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="pp-value-201-1" xml:lang="en">Independent Auditorâs ReportOpinionWe have audited the consolidated financial statements and the parent financial statements of Novo Nordisk A/S for the financial year 1 January 2022 â 31 December 2022, which comprise the income statement, balance sheet, equity statement and notes, including a summary of significant accounting policies, for the Group as well as the Parent, and the statement of comprehensive income and the cash flow statement of the Group (collectively referred to as the âFinancial Statementsâ). The consolidated financial statements are prepared in accordance with International Financial Reporting Standards as endorsed by the EU and additional requirements of the Danish Financial Statements Act, and the parent financial statements are prepared in accordance with the Danish Financial Statements Act.In our opinion, the consolidated financial statements give a true and fair view of the Groupâs financial position at 31 December 2022, and of the results of its operations and cash flows for the financial year 1 January 2022 â 31 December 2022 in accordance with International Financial Reporting Standards as endorsed by the EU and additional requirements under the Danish Financial Statements Act.Further, in our opinion, the parent financial statements give a true and fair view of the Parentâs financial position at 31 December 2022, and of the results of its operations for the financial year 1 January 2022 â 31 December 2022 in accordance with the Danish Financial Statements Act.Our opinion is consistent with our Long-form Auditorâs report issued to the Audit Committee and the Board of Directors.</arr:OpinionOnAuditedFinancialStatements>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">To the shareholders of Novo Nordisk A/S </arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="pp-value-203-1" xml:lang="en">Basis for opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditorâs responsibilities for the audit of the consolidated financial statements and the parent financial statements section of this auditorâs report. We are independent of the Group in accordance with the International Ethics Standards Board for Accountantsâ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.To the best of our knowledge and belief, we have not provided any prohibited non-audit services as referred to in Article 5(1) of Regulation (EU) No 537/2014.We were appointed auditors of Novo Nordisk A/S for the first time on 25 March 2021, for the financial year 2021.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx-1" id="pp-value-204-1" xml:lang="en">Key audit mattersThese matters were addressed in the context of our audit of the consolidated financial Key audit matters are those matters that, in our professional judgement, were of statements and the parent financial statements as a whole, and in forming our opinion most significance in our audit of the consolidated financial statements and the parent thereon, and we do not provide a separate opinion on these matters. financial statements for the financial year 1 January 2022 â 31 December 2022. Key audit matter How our audit addressed the key audit matterUS sales rebatesRefer to notes 2.1 and 3.5 in the consolidated financial statements. We evaluated the appropriateness of the methodology used to develop sales rebates provisions, including provisions related to the 340B Drug Pricing Program, by involving In the United States (US), sales rebates are paid in connection with public healthcare audit professionals with industry and quantitative analytics experience to assist us in insurance programmes, namely Medicare and Medicaid, as well as rebates to performing our auditing procedures. pharmacy benefit managers and managed healthcare plans. In January 2021, the Group changed its policy in the US related to the 340B Drug Pricing Program, whereby We tested the effectiveness of controls relating to sales rebates, including controls over Novo Nordisk no longer provides 340B statutory discounts to certain pharmacies that the assumptions and data used to estimate these rebates. contract with covered entities participating in the 340B Drug Pricing Program. Novo Nordisk has only recognised revenue related to the 340B Drug Pricing Program to the We tested rebate claims processed, including evaluating those claims for consistency extent that it is highly probable that its inclusion will not result in a significant revenue with the conditions and terms of rebate arrangements. reversal in the future. When sales are recognised, Novo Nordisk also records provisions for the expected value of the sales deductions (variable consideration) at the time the We tested the overall reasonableness of the accruals recorded at period end by related sales are recorded. developing an expectation for comparison to actual recorded balances. The provision for sales rebates and discounts amounted to DKK 69,499 million as of We evaluated Managementâs ability to estimate sales rebates accurately by considering 31 December 2022, a significant portion of which related to the US business. the historical accuracy of the estimates in prior year.The US sales rebates, including provisions related to the 340B Drug Pricing Program, involved significant measurement uncertainty as the provisions are based on legal interpretations of applicable laws and regulations, historical claims experience, payer channel mix, current contract prices, unbilled claims, claims submission time lags, and inventory levels in the distribution channel. Consequently, we considered this to be a key audit matter.</arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="pp-value-207-1" xml:lang="en">Statement on the management reviewManagement is responsible for the management review.Our opinion on the consolidated financial statements and the parent financial statements does not cover the management review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the consolidated financial statements and the parent financial statements, our responsibility is to read the management review and, in doing so, consider whether the management review is materially inconsistent with the consolidated financial statements and the parent financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether the management review provides the information required under the Danish Financial Statements Act.Based on the work we have performed, we conclude that the management review is in accordance with the consolidated financial statements and the parent financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the management review.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="pp-value-208-1" xml:lang="en">Management's responsibilities for the Financial StatementsManagement is responsible for the prepar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ation of consolidated financial statements that give a true and fair view in accordance with International Financial Reporting Standards as endorsed by the EU and additional r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>equirements of the Danish Financial Statements Act as well as the preparation of par<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ent financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the prepar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ation of consolidated financial statements and parent financial statements that are fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ee from material misstatement, whether due to fraud or error<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>.In preparing the consolidated financial statements and the parent financial statements, Management is responsible for assessing the Group<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>âs and the Parentâs ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the consolidated financial statements and the parent financial statements unless Management either intends to liquidate the Group or the Entity or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="pp-value-209-1" xml:lang="en">Auditor's responsibilities for the audit of the Financial StatementsOur objectives are to obtain reasonable assur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ance about whether the consolidated financial statements and the parent financial statements as a whole are fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ee from material misstatement, whether due to fraud or error<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, and to issue an auditorâs report that includes our opinion. Reasonable assurance is a high level of assur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>aud or error and are considered material if, individually or in the aggregate, the<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements and these parent financial statements.As part of an audit conducted in accordance with ISAs and the additional requir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ements applicable in Denmark, we exer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>cise professional judgement and maintain professional scepticism throughout the audit. We also:â <span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f"/>Identify and assess the risks of material misstatement of the consolidated financial statements and the parent financial statements, whether due to fraud or err<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>or, design and perform audit procedures r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esponsive to those risks, and obtain audit evidence that is sufficient and appropriate to pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ovide a basis for our opinion. The risk of not detecting a material misstatement resulting from fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>aud is higher than for one resulting from err<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>or, as fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>aud may involve collusion, forgery, intentional omissions, misrepresentations, or the o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>verride of internal control.â <span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f"/>Obtain an understanding of internal contr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ol relevant to the audit in order to design audit procedures that ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Gr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>oupâs and the Parentâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>s internal control.â <span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f"/>Evaluate the appr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>opriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>y Management.â <span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f"/>Conclude on the appr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>opriateness of Management<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/>â<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>s use of the going concern basis of accounting in preparing the consolidated financial statements and the parent financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists related to e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vents or conditions that may cast significant doubt on the Group'<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>s and the Parentâs ability to continue as a going concern. If we conclude that a material uncertainty exists, we are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>equired to draw attention in our auditorâs report to the related disclosur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>es in the consolidated financial statements and the parent financial statements or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorâs report. Howe<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ver, futur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>e events or conditions may cause the Group and the Entity to cease to continue as a going concern.â <span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f"/>Evaluate the o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>verall presentation, structure and content of the Financial Statements, including the disclosures in the notes, and whether the Financial Statements represent the underlying tr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ansactions and events in a manner that gives a true and fair view<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>.â <span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f"/>Obtain sufficient appropriate audit evidence r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>egarding the financial information of the entities or business activities within the Group to expr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ess an opinion on the consolidated financial statements. We are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>esponsible for the direction, supervision and performance of the group audit. We r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>emain solely responsible for our audit opinion.We communicate with those charged with go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We also pro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vide those charged with governance with a statement that we have complied with relevant ethical r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>equirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and, where applicable, safeguards put in place and measures taken to eliminate threats.From the matters communicated with those charged with go<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>vernance, we determine<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"/> those matters that were of most significance in the audit of the Financial Statements of the current period and are ther<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>efore the key audit matters. We describe these matters in our auditorâs report unless law or regulation pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>ecludes public disclosure about the matter or when, in extremely r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>are circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public inter<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"/>est benefits of such communication.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="pp-value-211-1" xml:lang="en">Report on compliance with the ESEF RegulationAs part of our audit of the Financial Statements of Novo Nordisk A/S, we performed procedures to express an opinion on whether the annual report of Novo Nordisk A/S for the financial year 1 January 2022 to 31 December 2022 with the file name NOVO-2022-12-31.zip is prepared, in all material respects, in compliance with the Commis-sion Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation), which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the consolidated financial statements including notes.Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes:â The preparing of the annual report in XHTML format;â The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for financial information required to be tagged using judgement where necessary;â Ensuring consistency between iXBRL tagged data and the consolidated financial statements presented in human readable format; andâ For such internal control as Management determines necessary to enable the preparation of an annual report that is compliant with the ESEF Regulation.Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Regulation based on the evidence we have obtained and to issue a report that includes our opinion. The nature, timing and extent of procedures selected depend on the auditorâs judgement, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include:â Testing whether the annual report is prepared in XHTML format;â Obtaining an understanding of the companyâs iXBRL tagging process and of internal control over the tagging process;â Evaluating the completeness of the iXBRL tagging of the consolidated financial statements including notes;â Evaluating the appropriateness of the companyâs use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified;â Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; andâ Reconciling the iXBRL tagged data with the audited consolidated financial statements.In our opinion, the annual report of Novo Nordisk A/S for the financial year 1 January 2022 to 31 December 2022 with the file name NOVO-2022-12-31.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
<arr:SignatureOfAuditorsPlace contextRef="ctx-1" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx-1">2023-02-01</arr:SignatureOfAuditorsDate>
<cmn:NameOfAuditFirm contextRef="ctx-2" id="pp-value-214-1" xml:lang="en">DeloitteStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-2" id="pp-value-217-1" xml:lang="en">33963556</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-2" xml:lang="en">Anders Vad Dons</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-2" xml:lang="en">State-Authorised Public Accountant</cmn:DescriptionOfAuditor>
<gsd:TelephoneNumberOfReportingEntity contextRef="ctx-1" xml:lang="en">+45 4444 8888</gsd:TelephoneNumberOfReportingEntity>
<gsd:HomepageOfReportingEntity contextRef="ctx-1" id="pp-value-222-1" xml:lang="en"> novonordisk.com</gsd:HomepageOfReportingEntity>
<gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-1" xml:lang="en">Annual report</gsd:InformationOnTypeOfSubmittedReport>
<cmn:TypeOfAuditorAssistance contextRef="ctx-1" xml:lang="en">Auditor's report on audited financial statements</cmn:TypeOfAuditorAssistance>
<gsd:ToolForPreparingTheXBRLInstanceDocument contextRef="ctx-1" xml:lang="en">ParsePort XBRL Converter</gsd:ToolForPreparingTheXBRLInstanceDocument>
<gsd:ReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2022-01-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2022-12-31</gsd:ReportingPeriodEndDate>
<gsd:PrecedingReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2021-01-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2021-12-31</gsd:PredingReportingPeriodEndDate>
<gsd:DateOfGeneralMeeting contextRef="ctx-1" xml:lang="en">2023-03-23</gsd:DateOfGeneralMeeting>
<gsd:NameAndSurnameOfChairmanOfGeneralMeeting contextRef="ctx-1" xml:lang="en">Klaus Soegaard</gsd:NameAndSurnameOfChairmanOfGeneralMeeting>
<gsd:LegalEntityIdentifierOfReportingEntity contextRef="ctx-1" xml:lang="en">549300DAQ1CVT6CXN342</gsd:LegalEntityIdentifierOfReportingEntity>
<fsa:ClassOfReportingEntity contextRef="ctx-1" xml:lang="en">Reporting class D</fsa:ClassOfReportingEntity>
<gsd:LegalEntityIdentifierOfSubmittingEnterprise contextRef="ctx-1" xml:lang="en">549300DAQ1CVT6CXN342</gsd:LegalEntityIdentifierOfSubmittingEnterprise>
<arr:TypeOfModifiedOpinionOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">Opinion</arr:TypeOfModifiedOpinionOnAuditedFinancialStatements>
<arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">Basis for Opinion</arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-2" xml:lang="en">mne25299</cmn:IdentificationNumberOfAuditor>
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