The Novo Group

A group of companies controlled by the Novo Nordisk Foundation

The Novo Group is a group of three independent companies that are ultimately controlled by the Novo Nordisk Foundation: Novo Holdings, Novo Nordisk A/S and Novozymes A/S.

Novo Holdings is responsible for managing the assets and wealth of the Novo Nordisk Foundation and serves as the holding company of the Group.

Through Novo Holdings, the Novo Nordisk Foundation is the controlling shareholder in Novo Nordisk A/S and Novonesis A/S. Novo Holdings owns more than 25% of the ordinary share capital of the companies, including all the preferred (A) shares, and more than 70% of the votes. In both Novo Nordisk and Novonesis each preferred (A) share is allocated 10 votes and each ordinary (B) share one vote.

As part of its enterprise foundation structure, the Foundation is obligated to maintain its controlling ownership in both companies.

Novo Holdings structure

Novo Holdings is tasked with managing the assets and wealth of the Novo Nordisk Foundation. Our portfolio includes the controlling shares in the Novo Group companies, and an investment portfolio of life science and capital investments.

Novo Group Companies Highlights

In 2022, the Novo Group Companies, Novo Nordisk A/S and Novozymes A/S, delivered historically strong results. Novo Nordisk’s sales increased by 26% in DKK and by 16% at constant exchange rates, and Novozymes reported 9% organic sales growth in 2022, marking the highest organic sales growth in more than a decade.

Novo Nordisk A/S

Novo Nordisk is a global healthcare company with more than 100 years of innovation and leadership in diabetes care. Novo Nordisk also has leading positions within haemophilia care, growth hormone therapy and hormone replacement therapy.

Headquartered in Denmark, Novo Nordisk A/S employs more than 64,000 employees in 80 countries and markets its products in 168 countries. In 2023, Novo Nordisk A/S had revenue of DKK 232,261 million.

Novo Nordisk’s B shares are listed on NASDAQ OMX Copenhagen (Novo-B). Its American Depository Receipts (ADRs) are listed on the New York Stock Exchange (NVO).

Novozymes A/S

Novozymes is the world leader in bioinnovation. Together with customers, partners and global society, the company improves industrial production and contributes to preserving natural resources and improving the quality of life. Novozymes’ natural solutions enhance and promote everything from removing trans-fats in food to advancing biofuels to power the world tomorrow.

Headquartered in Denmark, Novozymes A/S has more than 6,700 employees worldwide and markets more than 700 products in 140 countries. In 2023, Novozymes A/S had revenue of DKK 17,899 million.

Novozymes’ B shares are listed on NASDAQ OMX Copenhagen.

Novo Group and Investment Portfolio


Total Assets under Management (AuM) FY23 €108 billion – breakdown:

The Novo Group Charter

Present as well as future companies in the Novo Group must demonstrate willingness, ability and resolve to meet the following criteria:

  • company products and services make a significant difference in improving the way people live and work;

  • the company is perceived to be an innovator – in technology, in products, in services and/or in market approach;

  • the company is among the best in its business and a challenging place to work;

  • the company delivers competitive financial performance.

Companies in the Novo Group commit to:

  • values-based management;

  • open and honest dialogue with its stakeholders;

  • continuous improvement of financial performance, environmental performance and social performance;

  • reporting in accordance with relevant, internationally approved, conventions.