Ownership structure

The Novo Nordisk Foundation is obligated to maintain its controlling ownership in the Novo Groups two largest companies: Novo Nordisk and Novozymes.

• The foundation owns class A and B-shares in Novo Nordisk corresponding to approximately 28 percent of the total equity and approximately 75 percent of the total voting rights.^[9]
• The foundation owns class A and B-shares in Novozymes corresponding to approximately 25 percent of the total equity and approximately 71 percent of the total voting rights.^[9]

The class A-shares in both companies (Novo Nordisk and Novozymes) are unlisted and cannot be traded. The voting weight of the A-shares are 10 times those of B-shares in both companies.

Profits and taxation

The Novo Nordisk Foundation receives cashflows and profits from paid dividends from Novo Holdings A/S. The paid dividends are taxed in the underlying companies in correspondence with Danish corporate tax laws, prior to being paid out as dividends.

Distribution of grants

The foundation has an objective of providing support for scientific, humanitarian and social purposes.

The grants go primarily to support research in biomedicine, biotechnology, general medicine, nursing and art history at public knowledge institutions. Humanitarian and social purposes includes the Steno Diabetes Center research hospital.^[15] In addition, the Novo Nordisk Foundation also awards a number of awards each year aiming to recognize and reward individuals for "outstanding research, teaching, or other support for research".^[16]

Annual distribution summary

• In 2022, the foundation distributed a total of DKK 7.5 billion^[4] (approx $1.08 billion) and paid out DKK 5.2 billion ($0.76 billion) in grants.^[17][4]
• In 2021, the foundation distributed a total of DKK 8.8 billion^[18] (approx $1.18 billion) and paid out DKK 4.8 billion ($0.65 billion) in grants.^[19]
• In 2020, the foundation distributed a total of DKK 10.17 billion^[20] (approx $1.67 billion) and paid out DKK 4.6 billion ($0.75 billion) in grants.
• In 2019, the foundation distributed a total of DKK 8.5 billion^[21] (approx $1.29 billion) and paid out DKK 3.6 billion ($0.57 billion) in grants.
• In 2018, the foundation distributed a total of DKK 3.9 billion^[22] (approx $0.59 billion) and paid out DKK 1,75 billion ($0.28 billion) in grants.
• In 2017, the foundation distributed support for DKK 5.8 billion^[23][24] (approx $0.88 billion)
• In 2016, the fund provided support for DKK 4.2 billion^[23] (approx $0.64 billion).

International Prizes

• The Novo Nordisk Prize – Advances in medical science
• The Novozymes Prize
• The Marie and August Krogh Prize
• The Jacobaeus Prize
• The Hagedorn Prize
• The EFSD and the Novo Nordisk Foundation Precision Diabetes Medicine Award
• Obesity Prize for Excellence
• Novo Nordisk Foundation Lecture Prize
• EFSD/Novo Nordisk Foundation Future Leaders Award Programme
• EASD–Novo Nordisk Foundation Diabetes Prize for Excellence

Teaching Prizes

• Novo Nordisk Foundation Prize for Upper-secondary School Science Teachers
• Novo Nordisk Foundation Prize for Science Teachers at University Colleges
• Novo Nordisk Foundation Prize for Science Childhood Educators
• Novo Nordisk Foundation Prize for Primary School Science Teachers
• Novo Nordisk Foundation Prize for Lower-secondary School Science Teachers
• Novo Nordisk Foundation Nature-based Educator Prize

Random grant allocation process to minimise funding disparities in research

The Novo Nordisk Foundation has faced criticism for the concentration of its research funding, often favouring a select group of established researchers. This trend, prevalent in many countries, leads to funding disparities, where a majority of resources are allocated to a small percentage of researchers, often to the detriment of early-career, female, and diverse researchers. In response to these concerns, the Novo Nordisk Foundation has introduced partial randomisation in its grant allocation process.^[31]

This new approach is designed to mitigate biases and increase the diversity of funded research, aiming to support high-quality, innovative projects that might otherwise be overlooked. The effectiveness of this strategy is being evaluated over a three-year trial period.^[31]

Vaccine Development for Respiratory Diseases

The Foundation has allocated $260 million to develop vaccines for respiratory diseases such as tuberculosis and influenza. This initiative, known as the Novo Nordisk Foundation Initiative for Vaccines and Immunity (NIVI), collaborates with the University of Copenhagen and Denmark’s Statens Serum Institut. It emphasises generating immunity in the airway, a novel approach in vaccine development.^{[32][33][34][35]}

Pandemic Antiviral Discovery Initiative

This initiative, formed in partnership with the Bill & Melinda Gates Foundation and Open Philanthropy, is focused on developing accessible oral antiviral treatments for viruses with pandemic potential. The initiative aims to support researchers globally in identifying and developing phase 2-ready antiviral drug candidates.^{[36][37][38][39]}

Combatting Antimicrobial Resistance and Tuberculosis

The Foundation is working on developing vaccines and treatments for tuberculosis, addressing the broader issue of antimicrobial resistance. This initiative aims to combat a significant and growing global health threat.^[40][41]

Stem Cell-Based Therapy Research

The Foundation's investment in stem cell-based therapy research focuses on new therapeutic approaches for chronic diseases, exploring the regenerative potential of stem cells.^[42][43][44]

Cardio-Metabolic Diseases Research

The Foundation's research in this area is centered on the prevention and treatment of obesity, type 2 diabetes, and cardiovascular diseases, which are among the leading causes of death globally.^[42]

Sustainability in Food Production

The Foundation supports research in sustainable agriculture and food production techniques, aiming to address the challenge of sustainably feeding a growing global population.^[42]

Life Science Ecosystem in Denmark

The initiative to create a world-class life sciences ecosystem in Denmark encompasses the entire value chain from basic research to scientific application, aiming to foster innovation and scientific breakthroughs.^[42]

International Collaboration and Grants

The Foundation's initiatives involve large-scale projects that encompass collaborations across various sectors and disciplines, focusing on addressing global challenges through international cooperation and partnership.^[42]

Educational Initiatives

The Foundation places a strong emphasis on natural science education, supporting the development of new research talent and established researchers.^[42]

Research Infrastructure Development

The initiative to support research infrastructure development aims to facilitate the creation and scaling up of innovative solutions and products, enhancing the capacity for scientific research and development.^[42][45]

Current management

Under the leadership of the Foundation's CEO, the Executive Management is tasked with implementing the decisions made by the Board of Directors. Additionally, this team oversees the monitoring and follow-up of the Foundation's activities:^[52]

Current Board of Directors

The Novo Nordisk Foundation's Board of Directors comprises nine members. According to the Foundation's Articles of Association, six of these members are elected in accordance with the stipulated regulations, while the remaining three are elected by the employees. The Board has established a competence profile that outlines the desired competencies for its members.^[53]