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 Novonesis A/S.
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 plays a central role in the governance of the Novo Group.
Novo Holdings is responsible for managing the assets and wealth of the Novo Nordisk Foundation and serves as the holding company of the Group.
The Board of Novo Holdings serves as the steward of the Foundation’s financial assets and oversees the relationship with Novo Nordisk A/S and Novonesis A/S, including nominating two members for election to the Boards of the companies on behalf of the Foundation.
This role is exercised within a framework designed to ensure independent boards and a clear arm’s length structure, while the companies and their own boards remain responsible for their management and operations.
Learn more about the governance principles of the Novo Group here.
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.
In 2025, the Novo Group Companies, Novo Nordisk A/S and Novonesis A/S, delivered strong results. Novo Nordisk’s sales increased by 6.4% in DKK and by 10.3% at constant exchange rates , and Novonesis reported 7% organic sales growth in 2025, marking strong performance across its biosolutions business.
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 69,505 employees in 80 countries and markets its products in 170 countries. In 2025, Novo Nordisk A/S had revenue of DKK 309,064 million.
Novo Nordisk’s B shares are listed on NASDAQ Copenhagen (Novo-B). Its American Depository Receipts (ADRs) are listed on the New York Stock Exchange (NVO).
Novonesis A/S
Novonesis A/S, a global leader in biosolutions, delivers enzymes, microbes, and other biosolutions to industries ranging from food and beverages to energy and agriculture.
Novonesis employs more than 11,000 people across 45 countries and serves over 30 industries. In 2025, the company reported revenue of EUR 4,157.6 million, with 7% organic sales growth and an adjusted EBITDA margin of 37.1%.
Novo Group and Investment Portfolio
Total Assets under Management (AuM), FY25 €93 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.