Novo Nordisk - Timeline

Timeline

Novo Nordisk was created in 1989 through a merger between two Danish companies – Novo Industri A/S and Nordisk Gentofte A/S.

• 1923 Nordisk Insulinlaboratorium (later Nordisk Gentofte) founded by Hans Christian Hagedorn.
• 1925 Novo Terapeutisk Laboratorium (later Novo Industri) founded.
• 1932 Nordisk Insulinlaboratorium founds the Steno Memorial Hospital.
• 1938 Novo founds Hvidøre Diabetes Sanatorium.
• 1941 Novo launches its first enzyme, trypsin, extracted from the pancreas of animals and used for bating leather before tanning.
• 1946 Nordisk develops isophane insulin, branded as Neutral Protamine Haegdorn or NPH insulin, a neutral insulin with prolonged action.
• 1947 Penicillin Novo is launched – Novo's first product to be manufactured through fermentation.
• 1953 Lente – a long-acting insulin zinc suspension – is launched.
• 1963 Alcalase – Novo's first detergent enzyme produced by fermentation.
• 1973 Nordisk Gentofte markets Nanormon growth hormone for the treatment of growth hormone insufficiency. The growth hormone is extracted from human pituitary glands.
• 1973 Monocomponent (MC) insulin is introduced – the purest insulin available at the time.
• 1974 Novo's B shares are quoted on the Copenhagen Stock Exchange.
• 1977 Trisequens – sequential combined oral hormone replacement therapy (HRT) for peri-menopausal women – is marketed.
• 1977 Novo enters the U.S. insulin market, but based on market share data, the company was a very marginal player.
• 1978 In an effort to alleviate its product and quality problems in the U.S. insulin market, E.R. Squibb & Sons contracts with Novo. Novo becomes the single bulk supplier of insulin for Squibb.
• 1981 Novo becomes the first company in Scandinavia to be quoted on the New York Stock Exchange.
• 1982 Novo enters into a 50/50 U.S. joint venture with E.R. Squibb & Sons, known as Squibb-Novo, based in Princeton, NJ. Squibb-Novo became the distributor for Novo insulin sold in the U.S. market, with Novo focused on producing insulin, and Squibb focused on distributing and selling the product. The joint venture is able to significantly increase Novo's U.S. market share.
• 1982 'Human' Monocomponent insulin is launched in the U.S. – the world's first insulin preparation which is structurally identical to human insulin. It is extracted from the pancreas of pigs and converted to human insulin chemically.
• 1983 Novo Industri A/S enters a joint venture with Canada's Connaught Laboratories, considered to be the birthplace of insulin. Under the terms of the agreement, Novo agreed to manufacture insulin in Canada for distribution by Connaught. Novo Laboratories Ltd. agreed to lease, modernize and operate Connaught's insulin production facilities. Another subsidiary company, Connaught-Novo, was jointly owned by both parent companies. Connought Laboratories was privatized by the Mulroney government in 1985.
• 1985 NovoPen – an injection system similar in appearance to a fountain pen, with replaceable insulin cartridges – is launched.
• 1987 Novo starts production of biosynthetic human insulin with the help of genetically engineered yeast cells using recombinant DNA technology.
• 1988 Nordisk Gentofte markets Norditropin genetically engineered human growth hormone.
• 1989 Novo Industri A/S and Nordisk Gentofte A/S merge to become Novo Nordisk A/S, the world's leading producer of insulin.
• 1989 Following the merger of Novo and Nordisk, and the merger of Bristol-Myers and E.R. Squibb & Sons in the U.S., the Squibb-Novo joint venture in the U.S. market was dissolved. Novo purchased Squibb's 50% share and all rights to the joint U.S. diabetes care business.
• 1989 NovoLet – the world's first prefilled insulin syringe – is marketed.
• 1992 The Steno Memorial Hospital and Hvidøre Hospital merge to form the Steno Diabetes Center.
• 1994 Novo Nordisk Canada Inc. and Connaught Laboratories Ltd. announced a distribution agreement, which replaced their joint venture which was known as Connaught Novo Nordisk Inc. Under the terms of the agreement, Connaught received a financial consideration and a percentage fee for distribution services related to Novo Nordisk Canada's diabetes care products. Connaught continued to distribute Novo Nordisk Canada's diabetes products in Canada and Bermuda.
• 1996 NovoSeven – for the treatment of haemophilia patients with inhibitor reaction – is launched.
• 1998 NovoNorm/Prandin, a new oral treatment for type 2 diabetes, is launched in the US and a number of European countries.
• 1998 Activelle – the first low-dose continuous combined oral HRT for post-menopausal women – is introduced.
• 1999 Novo Nordisk publishes its first social report.
• 1999 Christian Karsten Hansen and Jan Møller Mikkelsen leave Novo Nordisk to found Profound Pharma A/S which is acquired by Maxygen in 2000.
• 1999 Innovo, the world's first insulin doser with a built-in electronic memory, is launched in Europe.
• 1999 Novorapid (Novolog in the U.S.) – a rapid-acting insulin analogue – is marketed.
• 1999 Norditropin SimpleXx – the world’s first liquid growth hormone in a dedicated pen system – is launched.
• 2000 Novofem, a low-dose sequential combined oral HRT, is marketed in Germany. Two years later it is launched in several other European countries.
• 2000 Novo Nordisk is split into three separate companies operating under the umbrella of the Novo Group: Novo Nordisk A/S, Novozymes A/S and Novo A/S.
• 2001 InnoLet – the first insulin delivery system specially designed to suit the needs of insulin users with poor eyesight and reduced dexterity – is launched.
• 2001 InDuo – the world's first combined blood glucose monitor and insulin injection system – is introduced.
• 2001 NovoRapid/Novolog FlexPen and Insulatard (NPH) FlexPen are marketed. FlexPen is a new disposable, prefilled insulin pen dosage device.
• 2001 Novo Nordisk acquires the controlling interest in the Brazilian pharmaceutical company Biobrás, the dominant insulin manufacturer in Brazil.
• 2002 NovoMix 30 FlexPen and NovoMix Penfill are introduced. NovoMix 30 is a dual-release insulin analogue.
• 2004 Levemir – a long-acting insulin analogue – is launched.
• 2005 Novo Nordisk announced that the company had moved into a leadership position in the U.S. insulin market for the first time ever based on the most recent data on total insulin volume.
• 2008 Novo Nordisk Canada Inc. was named one of Greater Toronto's Top Employers by Mediacorp Canada Inc. in October, which was announced by the Toronto Star newspaper.
• 2009 Novo Nordisk was named as an ethical leader of international business by think-tank Ethisphere.
• 2009 Novo Nordisk agrees to pay a $9 Million fine in connection with the payment of $1.4 million in kickbacks through the United Nations Oil-for-food Program.
• 2010 Victoza - the first once-daily human glucagon-like peptide-1 (GLP-1) analog for the treatment of type 2 diabetes is approved for distribution in the US.
• 2010 Novo Nordisk pulls medicine from Greece due to price cuts triggered by the financial crisis in the country. The act caused uproar among diabetics and relatives.
• 2010 Novo Nordisk agreed to pay $25 million to the US government for illegally promoting its haemostasis management drug, NovoSeven.
• 2011 The Association of the British Pharmaceutical Industry reprimands Novo Nordisk for poor management due to breaching industry codes concerning various promotional efforts for its Victoza diabetes medicine.