NOVO NORDISK A S

Novo Nordisk A/S is a global healthcare company and a world leader in Obesity and Diabetes care. The company manufactures and markets pharmaceutical products and services. Its business activities originated from Nordisk Gentofte, established in 1923 by August Krogh, H. C. Hagedorn, and A. Kongsted, and Novo Industri A/S, established in 1925 by Harald and Thorvald Pedersen. From their inception, both companies focused on the production and sale of insulin for diabetes treatment. Headquartered in Denmark, Novo Nordisk employs more than 69,500 employees in around 80 countries and markets its products in approximately 170 countries. The company has a broad product portfolio across Obesity and Diabetes care and Rare disease. This includes a portfolio of glucagon-like-peptide-1 (GLP-1) receptor agonists for the treatment of obesity and diabetes, and modern and human insulins for the treatment of diabetes. During 2025, the company experienced continued growth across all therapy areas and in many geographic areas. However, due to increased competition in both US and ex-US markets, Novo Nordisk lost volume market share in the GLP-1 market for both obesity and diabetes. During 2025, there were periodic supply constraints for certain products in some markets, including Ozempic for the treatment of type 2 diabetes. The supply situation across products improved throughout 2025 due to continued scaling of manufacturing capabilities. Novo Nordisk's B shares are listed on Nasdaq Copenhagen (NOVO-B), and its ADRs are listed on the New York Stock Exchange (NVO).