1920s: Discovery of insulin

The origins of the Novo Nordisk Foundation are linked to the early development of insulin production in Denmark in the 1920s. In 1922, Danish professor August Krogh obtained the rights to produce insulin in Scandinavia following its discovery in Canada. ^{[8] [9]} In 1923, Nordisk Insulinlaboratorium was established, and a foundation ownership model was adopted in December 1926 where the profits from Nordisk Insulinlaboratorium's sales were directed to the Nordisk Insulin Foundation, in order to ensure long-term stability of the enterprise and continued support for scientific research. ^{[8] [10]}

Mid-20th century to today:

During the mid-20th century, the Danish insulin industry developed through two principal companies: Nordisk Insulinlaboratorium and Novo Terapeutisk Laboratorium. The two companies operated separately for several decades before merging in 1989 to form Novo Nordisk A/S. ^{[11] [12]} The foundation structures associated with the companies were subsequently consolidated, forming the basis of the present Novo Nordisk Foundation. ^{[13] [11]}

In the decades following the merger, the foundation evolved from primarily holding industrial ownership stakes to becoming one of the worlds largest philanthropic foundations by assets. ^{[14] [15]} Its financial resources are derived primarily from its controlling ownership stake in Novo Nordisk through Novo Holdings A/S. ^[16]

During the 2010s and 2020s, the foundation expanded its grant activities in scale and scope. In addition to funding biomedical and clinical research, it increased its support for initiatives related to sustainability, environmental research, and life science innovation. ^[17] Annual grant distributions increased substantially during this period (DKK 5.8 billion in 2017 compared to DKK 10.1 billion in 2024), reflecting the financial performance of Novo Nordisk and the foundation’s investment activities. ^[18]

Ownership structure

The Novo Nordisk Foundation is obligated to maintain its controlling ownership in the Novo Group's 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. ^[19]
• 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. ^[19]

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

The current chairman of the Novo Nordisk Foundation is Lars Rebien Sørensen (former CEO of Novo Nordisk) and Mads Krogsgaard Thomsen is the current CEO of the Novo Nordisk Foundation. ^[22]

Profits and taxation

The Novo Nordisk Foundation receives cash flows 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.^{[ citation needed ]}

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. ^[26]

Annual distribution summary

• In 2024, the foundation distributed a total of DKK 10.1 billion ^[27] (approx. $1.39 billion) and paid out DKK 6.9 billion ($1.08 billion) in grants. ^[28]
• In 2023, the foundation distributed a total of DKK 9.1 billion ^[29] (approx. $1.33 billion) and paid out DKK 5.8 billion ($0.84 billion) in grants. ^[30]
• In 2022, the foundation distributed a total of DKK 7.5 billion ^[6] (approx $1.08 billion) and paid out DKK 5.2 billion ($0.76 billion) in grants. ^{[31] [6]}
• In 2021, the foundation distributed a total of DKK 8.8 billion ^[32] (approx $1.18 billion) and paid out DKK 4.8 billion ($0.65 billion) in grants. ^[33]
• In 2020, the foundation distributed a total of DKK 10.17 billion ^[34] (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 ^[35] (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 ^[36] (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 ^{[37] [38]} (approx $0.88 billion)
• In 2016, the fund provided support for DKK 4.2 billion ^[37] (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
• Diabetes Prize for Excellence
• Novo Nordisk Foundation Lecture Prize
• EFSD/Novo Nordisk Novo Nordisk Foundation Future Leaders Award Programme

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

Role in research and funding

The level of research funding concentration granted from enterprise foundations has consistently been a central issue in science policy discussions. Intensive concentration has been viewed both as a means to enhance and direct research investments effectively and as a concerning trend leading to excessive competition, reduced diversity, and the selection of conservative topics. ^[40]

There is a focus on evaluating potential imbalances in the distribution of research funds in Danish society regarding the role of the Novo Nordisk Foundation in advancing scientific research and innovation. ^[41]

One criticism is related to the foundation's significant economic influence in the research landscape. The substantial grants from the foundation may inadvertently overshadow other sources of research funding and potentially lead to a concentration of resources in certain research areas closely aligned with the foundation's priorities and interests. ^[42]

Concerns have been raised about the potential influence of the Novo Nordisk Foundation's agenda on the direction of scientific research. Critics express concerns about the potential effect of the foundation's allocation of funds on the diversity of research topics and perspectives within the Danish scientific community, ^[43] as it tends to prioritize projects that align with its strategic goals. ^[44]

Funding disparities

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. ^[45] This approach was designed to mitigate biases and increase the diversity of funded research, aiming to support projects that might otherwise be overlooked. The effectiveness of this strategy has been under evaluation during a three-year trial period. ^[45]

Major initiatives (2024–present)

Global Science Summit: Since 2024 the Foundation has launched or expanded several large-scale programmes and international activities. ^{[46] [47]} In May 2024 it convened the first Global Science Summit in Copenhagen, bringing together approximately 150 scientific leaders to discuss challenges in health, sustainability, and technology. ^[48]

Gefion AI Supercomputer: The Foundation funded Gefion, Denmark’s first dedicated artificial intelligence supercomputer, to support research ^[49] in areas such as healthcare, life sciences and quantum computing. ^{[50] [51]}

Climate Resilient Crops initiative: The Foundation launched the Ancient Environmental Genomics Initiative for Sustainability (AEGIS) in collaboration with the Wellcome Trust, providing up to DKK 585 million to develop climate-resilient crops. ^{[52] [53]}

Partnership for Education of Health Professionals (PEP): In global health, the Foundation initiated the Partnership for Education of Health Professionals (PEP) with a budget of DKK 1 billion to train nurses and health workers in Africa and India.

BRIGHT:Biotechnology Research Institute for the Green Transition (BRIGHT) at the Technical University of Denmark, funded with DKK 1.05 billion.

Antimicrobial Resistance: In antimicrobial resistance, the Foundation committed USD 25 million to the CARB-X initiative, a global, non-profit public-private partnership that accelerates the development of new antibiotics, therapeutics, diagnostics, and vaccines to combat the growing threat of drug-resistant bacteria, led by Boston University. ^[54]

International Activities

Research initiatives

Stem cell-based therapy research: In 2018, the Novo Nordisk Foundation invested in stem cell-based therapy research to focus on new therapeutic approaches for chronic diseases, exploring the regenerative potential of stem cells. ^{[60] [61] [62]}

COVID-19 pandemic: The Novo Nordisk Foundation contributed to support the fight against the COVID-19 pandemic in the spring of 2020. ^[63] As of June 2020), the foundation had donated DKK 366.2 million ^[64] (approx $55.77 million) for COVID-19 related measures, including test centres in Denmark (DKK 250 million for 11 COVID-19 test centres ^[65] ), financing research projects ^[66] aimed at mitigating the health consequences of COVID-19, ^[64] emergency production of ethanol in cooperation with the Carlsberg Foundation ^[67] to manufacture hand sanitizers and disinfection.

Pandemic antiviral discovery initiative: In 2022, the Novo Nordisk Foundation formed in partnership with the Bill & Melinda Gates Foundation and Open Philanthropy to focus on developing accessible oral antiviral treatments for viruses with pandemic potential. The initiative aimed to support researchers globally in identifying and developing phase 2-ready antiviral drug candidates. ^{[68] [69] [70] [71]}

Vaccine development for respiratory diseases: In 2023, the Novo Nordisk Foundation 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), collaborated with the University of Copenhagen and Denmark's Statens Serum Institut. It emphasised generating immunity in the airway, a novel approach in vaccine development. ^{[72] [73] [74] [75]}

Combatting antimicrobial resistance and tuberculosis: In 2023, the Novo Nordisk Foundation worked on developing vaccines and treatments for tuberculosis, addressing the broader issue of antimicrobial resistance. ^{[76] [77]}

Cell therapy facility: In 2023, the Novo Nordisk Foundation launched an initiative to support research infrastructure development, specifically aimed at facilitating the creation and scaling up of cell therapy solutions and products. ^{[60] [78]}

Prix Galien CEE Pro Bono Humanum Award

In 2025, the Novo Nordisk Foundation received the Prix Galien CEE Pro Bono Humanum Award, a regional distinction presented as part of the Central and Eastern Europe (CEE) edition of the international Prix Galien programme ^[79] . According to the award organizers, the Novo Nordisk Foundation was selected for its contributions to global health, scientific research, and initiatives aimed at improving health outcomes across diverse populations.The award was presented at the Prix Galien CEE ceremony in Warsaw. Poland. Chief Executive Officer of the Novo Nordisk Foundation, Mads Krogsgaard Thomsen, accepted the award on behalf of the Novo Nordisk Foundation. ^[80]

The Prix Galien programme, established in 1970, is regarded as an international awards platform recognizing achievements in medical research, pharmaceutical innovation and humanitarian impact. The CEE edition of the programme focuses on contributions to public health across Central and Eastern Europe ^{[80] [81]} .

Board of Directors

The Novo Nordisk Foundation's Board of Directors consists of a total of 10 members. In addition to the Chairman and Vice Chairman, the Board consists of four members elected by statute, two of whom must have medical or scientific expertise, and three employee representatives from Novo Nordisk and Novonesis (formerly Novozymes ). ^[82]

Executive Management

The Foundation's management is responsible for executing the decisions of the Board of Directors and for overseeing the Foundation's activities and operations. In June 2025, the Foundation introduced a new executive management structure, ^[83] which involved organizational restructuring and staff reductions.