Novo-Nordisk-AR-2012-en

performance on three dimensions:
financial, social and environmental. The
aim is to ensure long-term profitability
by minimising any negative impacts
from business activities and maximising
the positive footprint from its global
operations: improved health, employment,
economic prosperity and social equity.
The Triple Bottom Line model (see p 18)
illustrates the three dimensions with patient
interests at the core, aiming to create longterm
value by making balanced decisions.
Value is created in three ways. Firstly, it
makes Novo Nordisk more adaptive to
changes in its business environment. This,
in turn, helps protect the company’s licence
to operate and builds trust. Novo Nordisk
proactively engages with stakeholders
to address emerging challenges in the
business environment. One example is the
debate over access to health. Novo Nordisk
has supported the advocacy for a UN
Resolution on Diabetes and is partnering
with multiple stakeholders to bring policies
into action.
Secondly, the Triple Bottom Line business
principle strengthens competitiveness.
The company chose to invest in the
conversion to renewable energy in
Denmark in a strategic partnership with
its energy supplier. With this move, Novo
Nordisk has managed to continue to grow
production and sales, and yet decrease
carbon emissions significantly. This is a
good example of how sustainability-driven
decisions can drive operational excellence
and reduce costs.
Finally, the Triple Bottom Line business
principle can be an engine for business
development. Through partnerships with
stakeholders, Novo Nordisk can co-create
innovative solutions that lead to new
opportunities to grow the business. One
example is a pilot project that makes
human insulin available to low-income
populations in Kenya at prices they can
afford and with effective distribution via
local communities.
Financially responsible:
profitable for the long term
Doing business in a profitable and
responsible way is the basis for delivering
an attractive return on investment for
shareholders and making a contribution
to society. Novo Nordisk uses four financial
targets to steer the business towards
long-term profitable growth: operating
profit growth, operating profit margin,
operating profit after tax to net operating
assets, and cash to earnings. These targets
help Management balance growth in the
short term with investments in longer-term
growth such as research and development.
Socially responsible:
patients first
As a research-based healthcare company,
Novo Nordisk is focused on therapeutic
innovations and improvements to medical
treatment for people with chronic
diseases. Today, approximately 23 million
people all over the world benefit from
the treatments Novo Nordisk offers. The
company also prioritises improving timely
detection and prevention of diabetes
and invests in strengthening healthcare
infrastructure, awareness campaigns,
education and support for lifestyle
interventions.
In terms of societal value, Novo Nordisk
generates wealth and contributes to
socioeconomic development through
sustainable business practices, investment
and employment. As a pharmaceutical
innovator, the company provides
knowledge, research and development,
and healthcare products. Outreach
programmes such as Changing Diabetes ®
and Changing Possibilities in Haemophilia ®
improve awareness, diagnosis and
treatment. Through these efforts, Novo
Nordisk aims to bring down the human,
societal and financial burden of diabetes.
Read more about sustainable growth on pp
38–40.
Social responsibility is also about ensuring
a healthy and engaging workplace for Novo
Nordisk’s employees. Novo Nordisk has
global health and safety standards and
policies to ensure respect for the rights
of all employees. Through the workplace
wellness programme, NovoHealth, the
company also offers a healthy workplace
and actively promotes healthy lifestyles.
As a global player, Novo Nordisk must
also offer a diverse and inclusive working
environment. Diversity – in management
teams and in functional units – fosters
innovative thinking, nurtures collaboration
between people with different perspectives
and drives performance. Novo Nordisk’s
Management has set an ambitious longterm
aspiration that all senior management
teams must be diverse in terms of gender
and nationality.
Environmentally responsible:
doing more with less
Producing more with less is not just
sound household management; it is also
a way to proactively address sustainability
challenges throughout the value chain. As
its business grows, Novo Nordisk seeks
to reduce the consumption of natural
resources and manufactured inputs
across the value chain. There is also a
focus on minimising outputs in the form
of emissions such as CO2 and waste. The
ambition is to continue to produce ‘more
with less’ – more products to serve more
people, using less energy and water for
production, and leaving less waste.
Novo Nordisk Way
The Novo Nordisk Way is a description
of the ambitions and the values that
characterise the company. It was developed
for employees in Novo Nordisk, but has
been shared with a broader audience. It
sets the direction for all employees in Novo
Nordisk and is a promise employees make
to each other – and to stakeholders outside
the company.
The Novo Nordisk Way
In 1923, our Danish founders began a
journey to change diabetes.
Today, we are thousands of employees
across the world with the passion, the
skills and the commitment to continue this
journey to prevent, treat and ultimately
cure diabetes.
• Our ambition is to strengthen our
leadership in diabetes.
• We aspire to change possibilities in
haemophilia and other serious chronic
conditions where we can make a
difference.
• Our key contribution is to discover and
develop innovative biological medicines
and make them accessible to patients
throughout the world.
• Growing our business and delivering
competitive financial results is what
allows us to help patients live better
lives, offer an attractive return to our
shareholders and contribute to our
communities.
• We never compromise on quality and
business ethics.
• Our business philosophy is one
of balancing financial, social and
environmental considerations
– we call it the Triple Bottom Line.
• We are open and honest, ambitious and
accountable, and treat everyone with
respect.
• We offer opportunities for our people to
realise their potential.
Every day we must make difficult choices,
always keeping in mind what is best
for patients, our employees and our
shareholders in the long run.
It’s the Novo Nordisk Way.