It has been said, and wisely so, that it is a company’s values that underpin its approach to and understanding of sustainable development.

In the case of Novo Nordisk, this statement rings a truth that echoes back to when the company was founded in a basement nearly 80 years ago.

We have been pursuing a consistent approach to implementing the Triple Bottom Line – social and environmental responsibility, and economic viability – for more than a decade, and we report annually on our performance.

Our core values, the backbone of our business, have remained unchanged even in turbulent times. Through dedication to our vision, we feel that each day we are coming a bit closer to the ultimate goal: to defeat diabetes.

It makes a difference whether you live by your values, or merely talk about them. It also makes a difference whether corporate values are consistent with your personal view of the world. Put to the test,

this is the ultimate determinant of success or failure.

We believe that a consistent, value-guided approach will maintain our position as a leader. Reputation counts, and one of the things that really matter is the recognition by our own employees. In the most recent employee survey, 85% agreed with the statement “Novo Nordisk’s results within the social and environmental area are important to the future of the company”.

We recognise the fact that we may do business while combating diabetes. We endorse and promote collaboration with research institutions across the world to find better ways of treatment and prevention, and between parties in the healthcare system to make treatment affordable, available and accessible.

A new regime is usually judged by its first hundred days in office. I began my term when Novo Nordisk had just been reorganised as a focused healthcare company, better shaped to meet the expectations of our customers, our employees and our shareholders.

A fine start which was followed by tough times when a strong coalition of NGOs challenged the
entire pharmaceutical industry on how we do business. On our home turf, our company was attacked in the Danish media in the early spring of 2001 for joining the pharmaceutical industry’s legal action against the South African government.

We saw globalisation transformed into a war between ‘good and evil’, between rich and poor, and between big business and individual human rights. It exposed some of the very difficult dilemmas we need to deal with as a corporate citizen in a complex world.

At the time, I was quoted as saying that “we are not a humanitarian organisation”. We cannot just
give away our products, or give up our intellectual property. Yet we have made a promise of ‘being there’ for those who need the care and the treatment we can provide. With that promise our company has an extraordinary obligation to help facilitate better access to proper diabetes care in the poorest nations.

We cannot keep up with the pace of diabetes. Even if we wanted to, we cannot supply essential care to the more than 150 million people suffering from the disease today. We need to develop new, sustainable business models. The future of millions of people – and that of the company – demands active intervention to change the dire reality in these countries by giving direct help via product supply and affordable pricing, along with investments in building diabetes care infrastructure.

To present a targeted and focused strategy to fight diabetes globally, we have launched an
ambitious plan to address the urgent issue of improving access to health for all people.
The Novo Nordisk LEAD initiative – Leadership in Education and Access to Diabetes care – is our
response to ensuring better access to global healthcare. One element of the LEAD initiative
is the establishment of the World Diabetes Foundation ,

through which the company will donate approximately DKK 500 million over the next ten years.

Before we could make this significant financial commitment, we obviously needed our shareholders’ support. I am happy to say that my consultations with our major institutional investors brought an affirmative response. They, too, are concerned. They, too, expect us to act on our responsibility as a global corporate citizen.

This concern is shared by our employees, our business partners, our customers, NGOs and other key stakeholders. We know, because we frequently consult them on these issues.

Alleviating poverty is the greatest challenge for sustainable development. Economic inequality
is rising rapidly. The anti-globalisation movement is one response to that. So is the increasing commitment to corporate social responsibility.

In changing times we need to make new commitments and build more partnerships with
those who share the same vision. In a perfect world, the business of business may well be business. Yet the events of the year have certainly reminded me – like everyone else – that the world is far from perfect.

It needs a lot more work and a greater commitment by everyone subscribing to the values of
democracy, tolerance and personal integrity.

So while I still do not see our company as a not-for-profit humanitarian organisation, we can be a humane company – a company with a heart.

Lars Rebien Sørensen, president & CEO