How a love story launched the company behind Ozempic, Wegovy

Novo Nordisk, nan institution down Ozempic and Wegovy, is now Europe's largest institution arsenic world request for its narcotics person soared. 

But nan Danish pharmaceutical company's origins were motivated by much individual reasons, not financial. 

The institution was launched successful nan early 1920s by Nobel laureate August Krogh and his woman Marie, a expert surviving pinch diabetes. At nan time, glucosuria was a decease sentence. The mates met astatine nan Danish Medical School, wherever August was Marie's professor.

"He fell successful emotion pinch her correct away," said Hanne Sindbaek, a Danish journalist and writer of 2 books astir Novo Nordisk and nan Kroghs.

While connected a travel to North America they learned that Canadian scientists were moving connected a occurrence cure for diabetes: insulin.They traveled to Toronto and came location to Denmark pinch nan authorities to manufacture nan life-saving supplier successful Scandinavia. 

Launching nan world's largest philanthropic organization

There was a drawback erstwhile nan Canadians shared nan insulin look pinch nan Kroghs.

"They asked that cipher should profit from it," Sindbaek said. "It should beryllium to nan use of humanity. It was a measurement to get this life-saving supplier retired successful nan world fast."

Jon Wertheim and Hanne Sindbaek 60 Minutes

Back successful Denmark, nan Kroghs group up nan Nordisk Insulin Company. To support their statement pinch nan Canadian scientists, they established a nonprofit foundation, which coming controls 77% of the  voting shares. Today it is nan largest philanthropic statement successful nan world, bigger than nan Gates Foundation.

"The statement was that if location were revenues and proceeds from nan income of insulin present successful Scandinavia, it should beryllium returned to nine successful nan shape of support for investigation into physiology and medicine," said Mads Krogsgaard, nan Novo Nordisk Foundation's CEO. 

In 2023, nan instauration awarded much than $1 cardinal to projects successful education, wellness and improvement projects astir nan world. 

Novo Nordisk faces pricing complaints

In nan years since its founding, Novo Nordisk has grown to beryllium worthy $600 billion, and yet existent CEO Lars Fruergaard Jørgensen — only nan 5th successful nan company's history — has a compensation package of astir $10 million, an magnitude dwarfed by his U.S. counterparts. When asked astir nan pressures of moving nan biggest institution successful Europe, he defers to nan institution mantra, nan Novo Nordisk Way.

• With Novo Nordisk success, is location a "Nokia risk" for Denmark?

"So nan Novo Nordisk measurement is nan basal reasoning of our founders. And cardinal elements linked to really we dainty each other, really we collaborate," Jørgensen said. "And that's astir being unfastened and honest. It's each astir being accountable."

Lars Fruergaard Jørgensen 60 Minutes

In nan U.S. however, location is simply a increasing chorus of complaints complete nan costs of Ozempic and Wegovy led by Sen. Bernie Sanders. Novo Nordisk's CEO appeared earlier Sanders and his Senate subcommittee connected Sept. 24.

Sanders excoriated Jørgensen complete allegations of value gouging, saying nan company's U.S. prices are unaffordable for those who request nan narcotics nan most. Novo Nordisk's consequence is that nan drugs' benefits to world wellness will, ultimately, prevention wellness attraction systems trillions of dollars. The institution besides blames America's fractured wellness attraction strategy for nan precocious prices. 

In:
• Wegovy
• Ozempic