• Being respected for adding value to society
  • Progress towards zero environmental impact
  • Ensure distinct core capabilities and evolve culture

  • Further raise the innovation-bar for diabetes treatment
  • Develop a leading portfolio of superior treatment solutions for obesity
  • Strengthen and progress the Biopharm pipeline
  • Establish presence in Other serious chronic diseases focusing on Cardiovascular disease (CVD); Non-alcoholic steatohepatitis (NASH) and Chronic kidney disease (CKD)

  • Strengthen Diabetes leadership - aim at global value market share of more than 1/3
  • Strengthen Obesity leadership and double current sales (based on reported sales in 2019)
  • Secure a sustained growth outlook for Biopharm

  • Deliver solid sales and operating profit growth:
    • Deliver 6-10% sales growth in International Operations
    • Transform 70% of sales in the USA (from 2015 to 2022)
  • Drive operational efficiencies across the value chain to enable investments in future growth assets
  • Deliver free cash flow to enable attractive capital allocation to shareholders

Our strategic aspirations are not a projection of our financial outlook or expected growth.

Unless otherwise specified growth rates are at constant exchange rates.

Adding value to society

  • Launch of new social responsibility strategy to defeat diabetes
  • Participation in antimicrobial resistance initiative
  • Expansion of US affordability offerings
  • Societal contributions during COVID-19 pandemic

Green power

Sourcing of green power at all US operations and 100% renewable power across all production sites

CO2 emissions

39% reduction in CO2 emissions compared to the first half of 2019 due to use of renewable energy and lower travel activities


  • Insulin icodec phase 2 trial successfully completed
  • Rybelsus® approved in the EU, the UK and Japan


  • Successful completion of obesity trials:
  • Semaglutide obesity phase 3 programme
  • AM833 monotherapy phase 2 trial
  • AM833 in combination with semaglutide phase 1 trial

Other serious chronic disease

  • Agreement to acquire of Corvidia Therapeutics
  • Positive phase 2 data for semaglutide in Non-alcoholic steatohepatitis (NASH)

Diabetes sales increased by 7%

  • Value market share leadership expanded by 0.8%-points to 29.0%
  • Sales of GLP-1 increased by 28% driven by continued performance of Ozempic®

Obesity sales increased by 9% to DKK 2.9 billion

Biopharm sales increased by 6%

  • Driven by International Operations and North America Operations

Sales increased by 7%, to DKK 63.9 billion

  • 12% and 1% growth in Interntional Operations and North America Operations, respectively
  • In the US, 46% of sales transformed to products launched since 2015

Operating profit increased by 8% to DKK 30.1 billion

  • Productivity improvement and improved admin-to-sales ratio

Interim dividend

  • An interim dividend of DKK 3.25 for each Novo Nordisk A and B share of DKK 0.20, which was paid in August 2020