Close this search box.

Novo Nordisk’s Business Model Canvas

Novo Nordisk Business Model Canvas
Photo By Towfiqu barbhuiya, Edited By Grey Knight

A Brief History of Novo Nordisk

Novo Nordisk is a Danish multinational pharmaceutical company that was founded in 1923 by August Krogh, Marie Krogh, and Hans Christian Hagedorn. The company initially focused on the production of insulin, which was a groundbreaking medication for the treatment of diabetes.

In the following years, Novo Nordisk expanded its product portfolio to include other types of medications for diabetes, as well as hemophilia, growth disorders, and other serious chronic conditions. The company also diversified its operations by entering the field of biopharmaceuticals and developing innovative drug delivery systems.

Throughout the 20th century, Novo Nordisk continued to grow and establish itself as a leading global provider of healthcare products. In 1989, the company was listed on the Copenhagen Stock Exchange and has since expanded its presence to over 100 countries worldwide.

Today, Novo Nordisk is a major player in the pharmaceutical industry, known for its research and development efforts, as well as its commitment to improving the lives of people living with chronic diseases. The company remains dedicated to advancing medical innovation and making a positive impact on global healthcare.

Who Owns Novo Nordisk?

Novo Nordisk, a pharmaceutical company based in Denmark, is owned by a diverse group of shareholders. The largest shareholders of Novo Nordisk are institutional investors and pension funds, along with individual investors and family offices. These shareholders play a significant role in the governance and strategic direction of the company. Below is a list of the top 10 shareholders of Novo Nordisk:

1. Novo Holdings
2. The Vanguard Group, Inc.
3. BlackRock, Inc.
4. Norges Bank Investment Management
5. State Street Corporation
6. Capital Group Companies, Inc.
7. Fidelity Management & Research Company
8. Alecta Pensionsforsakring, Omsesidigt
9. Massachusetts Financial Services Company
10. Geode Capital Management, LLC

These shareholders have a considerable stake in the company and are instrumental in shaping its future.

Novo Nordisk Mission Statement

Novo Nordisk’s mission statement is to drive change to defeat diabetes and other serious chronic conditions. They do this by pioneering scientific breakthroughs, expanding access to high-quality care, and ensuring a responsible and ethical business approach. They are committed to improving the lives of millions of people around the world through innovative treatments and care solutions.

How Novo Nordisk Makes Money?

Novo Nordisk is a global healthcare company focused on diabetes care and other chronic diseases. The company generates its revenue primarily through the sale of pharmaceutical products, including insulin and other diabetes treatments, as well as products for hemophilia and growth disorders. Novo Nordisk also generates revenue through the sale of medical devices and technologies, such as insulin pens and injection systems. Additionally, the company has a growing presence in the obesity and cardiovascular disease markets, further diversifying its revenue streams. Overall, Novo Nordisk’s business model revolves around providing innovative and effective healthcare solutions for patients, while generating revenue through the sale of its products and services.

Novo Nordisk’s Business Model Canvas

The Business Model Canvas is a strategic management tool that allows businesses to visualize, analyze, and design their business model. It is a one-page framework that outlines key aspects of a company’s operations, helping to identify areas for improvement and opportunities for growth.

Customer Segments:

– Novo Nordisk targets several customer segments, including healthcare providers, pharmacies, and individual patients.
– The company focuses on both the public and private healthcare sectors, including hospitals, clinics, and government health programs.

Value Propositions:

– Novo Nordisk offers a range of innovative and life-saving medications for diabetes, obesity, hemophilia, and other chronic diseases.
– The company’s commitment to research and development results in cutting-edge therapies and medical devices for patients worldwide.


– Novo Nordisk distributes its products through a combination of direct sales, online platforms, and partnerships with pharmacies and healthcare providers.
– The company also utilizes marketing and educational campaigns to reach patients and the general public.

Customer Relationships:

– Novo Nordisk maintains close relationships with healthcare professionals through training programs, support services, and ongoing communication.
– The company prioritizes patient engagement through educational resources, patient assistance programs, and advocacy initiatives.

Revenue Streams:

– The primary revenue streams for Novo Nordisk come from the sales of pharmaceutical products, medical devices, and related services.
– The company also generates revenue from licensing agreements, royalties, and strategic partnerships.

Key Resources:

– Novo Nordisk’s key resources include its research and development facilities, manufacturing capabilities, distribution network, and intellectual property portfolio.
– The company also relies on its skilled workforce, financial resources, and strategic alliances with academic institutions and industry partners.

Key Activities:

– Novo Nordisk’s key activities encompass research and development, manufacturing, sales and marketing, regulatory compliance, and supply chain management.
– The company also prioritizes ongoing clinical trials, product launches, and post-market surveillance to ensure the safety and efficacy of its products.

Key Partners:

– Novo Nordisk collaborates with healthcare providers, patient advocacy groups, government agencies, and industry stakeholders to improve patient access to care and advance public health initiatives.
– The company also forms strategic partnerships with research institutions, technology companies, and other pharmaceutical firms to drive innovation and expand its product portfolio.

Cost Structure:

– Novo Nordisk’s cost structure includes expenses related to research and development, manufacturing, sales and marketing, distribution, and regulatory compliance.
– The company also incurs costs for talent acquisition, training, and retention, as well as administrative and infrastructure expenses.

Novo Nordisk’s Competitors

Novo Nordisk faces stiff competition in the pharmaceutical industry, particularly in the diabetes care and biopharmaceutical segments. Its top competitors include Sanofi, Eli Lilly and Company, Pfizer Inc., Merck & Co., and Johnson & Johnson. These companies also have a strong presence in the diabetes market and are constantly innovating and developing new products to address the growing demand for diabetes treatments. Novo Nordisk must maintain its focus on research and development, as well as strategic partnerships, to stay competitive in this dynamic market.

Novo Nordisk SWOT Analysis


1. Strong presence in the global diabetes market
2. Diversified product portfolio
3. Research and development capabilities
4. Strong brand recognition
5. Global manufacturing and distribution network


1. Dependency on the diabetes market
2. Limited pipeline for new drug development
3. Intense competition in the diabetes market
4. Vulnerability to changes in healthcare policies
5. Regulatory challenges


1. Expansion into other therapeutic areas
2. Growing global diabetes prevalence
3. Increasing demand for diabetes management solutions
4. Collaborations and partnerships


1. Patent expirations
2. Pricing pressures
3. Regulatory uncertainties
4. Competition from generic drugs
5. Healthcare reform policies.

Concluding Analysis

As I wrap up my analysis of Novo Nordisk’s business model, I am confident in the company’s ability to continue its success in the future. With a strong focus on innovation, a commitment to sustainability, and a solid financial performance, Novo Nordisk is well-positioned to thrive in the ever-evolving pharmaceutical industry. The company’s strategic investments in research and development, along with its diversified product portfolio, provide a strong foundation for continued growth and success. As an analyst, I see a bright future ahead for Novo Nordisk and believe that the company will continue to be a leader in the healthcare sector for years to come.

Additional Resources

To keep learning and advancing your career, we highly recommend these additional resources:

Business Model Canvas of The Top 1,000 Largest Companies by Market Cap in 2024

A List of 1000 Venture Capital Firms & Investors with LinkedIn Profiles

Peter Thiel and the 16 Unicorns: The Legacy of Thiel Fellowship

9 Biggest IPOs of All Time

List of Fortune 500 Companies in 2023

Receive Daily Startup News

Explore The Pulse of Global Innovation

Delve into the latest news, trends, and insights from startup ecosystems around the world. Stay informed, inspired, and connected to the dynamic landscape of entrepreneurship.

Read by professionals from Y Combinator, AngelPad, 500 Global, and more.

login to your account