Company Profile
Novo Nordisk
— Fatty-acid modification for once-weekly peptides and an absorption enhancer for tablets: expanding semaglutide through drug delivery
Novo Nordisk A/S is a Danish pharmaceutical company. In 2025, it reported sales of DKK 309.1 billion, about 74% of which came from three semaglutide products: Ozempic, Wegovy, and Rybelsus (calculated in this article). Semaglutide is a peptide whose fatty-acid modification enables it to bind to albumin in the blood, resist degradation, and support once-weekly dosing. Combined with the absorption enhancer SNAC, the molecule can also be formulated as a tablet, as in Rybelsus and Wegovy pill. From a drug-discovery and DDS perspective, Novo Nordisk has expanded a single molecule into both injectable and oral products through delivery design. This article summarizes the company’s scale and focuses on its modalities, DDS technologies, manufacturing investment, and partnerships.
- Novo Nordisk in 30 seconds and its position in drug discovery and DDS
- About logo and company name
- Where is this company in the world of drug discovery and DDS?
- Company Size (Concise)
- Drug discovery and DDS resources
- Past Initiatives
- Future plans
- What Novo Nordisk aims to achieve in drug discovery and DDS
- Collaboration mapping of drug discovery and DDS
- Technologies, Products and Services
- The risk of this company
- Glossary, sources, and claim-to-source table
1. Novo Nordisk in 30 seconds and its position in drug discovery and DDS
NYSE: NVO（ADR）B stock listed in Copenhagen
SNACEnables once-weekly injections and oral tablets
NOVO NOR DISKPharmaceutical CompanyHowever, the source of strength is DDS technology. Annual Report 2025By binding fatty acids, they are bound to albumin, preventing decomposition in the kidneys and prolonging their stay in the body."I explain FactsHome In addition, in 2020, the absorption technology used for oral preparationEligen SNACEmisphere, a company owned by Emisphere, was acquired at a total of $18 billion, and the technology was made entirely of the company. In other words, the competitiveness of this company is not only the target of GLP-1,Coating technology that makes peptides long and absorbed from mouthContact Us
2. Logo and company name
Note: Corporate name Novo Nordisk A/SHome ShareholdersNovo Nordic FoundationIn that holding company Novo Holdings A/S A Shares Novo Holdings is a non-listed company, and has acquired Catalent in 2024. The Japanese-language article uses the standard Japanese rendering of “Novo Nordisk.”
Official Site:https://www.novonordisk.com/3. Where is this company in the world of drug discovery and DDS?
The center of sales isPeptide / Protein(GLP-1 receptor agonist, various insulin, growth hormone, blood coagulation factor) FactsHome In the development of the product, a mixture of amylin-like caglyrinthide and semaglutinideCagriSemaA single peptide that acts on both GLP-1 and amylin receptors.Zena Tide(former name amicletin, injection and oral), siRNA(Phase 1),Double specific antibodies（Mim8）、FGF21 analog(Efluxifelmin), oralLow(Joint research with Etabopibat and Septerna) Each mechanism is handled by the technical commentary "Peptides and GLP-1", "nucleic acid medicine", "DDS and targeting".
4. Company Scope (Concise)
Press only the scale of the company. The amount is in Danish Krone (DKK, million), and the calendar year is used. Facts。
| Index | FY2024 | FY2025 | January to June 2026 |
|---|---|---|---|
| Sales (DKK million) | 290,403 | 309,064 | 175,311 |
| Ozempic | 120,342 | 127,089 | ― |
| Wegovy | 58,206 | 79,106 | ― |
| Rybelsus | ― | 22,093 | ― |
| R&D expenses (DKK million) | 48,062 | 52,039 | 28,071 |
| Capital investment (tangible fixed assets, K billion) | 47.2 | 60.1 | 24.0 |
| (year-end, person) | 74,156 | 69,505 | ― |
Net sales from January to June 2026 are based on reporting, including repayment of cash on the U.S. 340B system. R&D costs 28,071 million include a decrease of 6,328 million in the development product. company 6-K). "-" indicates that there is no value of the same category in the document confirmed in this article.
Ozempic・Wegovy・Rybelsus's three products (both active ingredients are semaglutide) total sales for 2025about73.9%Home The calculation of this paperThe company itself also says, 'Semaglutide accounts for most of its sales.' Semaglutide Sub's Patent.2032, 2031 in Japan and Europe, 2026 in ChinaExpires and Disclosures FactsHome The number of market share in the annual report is the data of the research company (IQVIA), so it is not adopted in this article.
5. Drug discovery and DDS resources
| Resource Types | ||
|---|---|---|
| Research | Research and Development OrganizationOver 10,000(2025 year-end). Locations are mainly Denmark, USA, UK and China. Reduced 9,000 employees by 2025 company reforms and 69,505 employees | Facts |
| Gold (R&D) | R&D expenses 52K 52,039 million (2025, 16.8% of sales). Going forward, the policy to increase loosely from around 15 to 17% of sales | Facts |
| Gold (Manufacturing Equipment) | Capital investment in tangible fixed assets K 60.1 billion (2025), 2026 expects about 55K 55 billion. Strengthening the capacity of original medicine and filling (fill finish) | Facts |
| Main factory investment | Carnbo original drug expansion (approximately 9.6 billion, 27.0 billion, 2029), aseptic production expansion of Clayton, North Carolina (approximately 7.0 billion, 15.9 billion, 2028), etc. | Facts |
| Acquisition of external manufacturing base | Novo Holdings, Inc.Three filling plants were acquired at $11 billion(2024) | Facts |
| Acquisition (Technology/Development) | Emisphere (SNAC, 2020, $18B), Dicerna (RNAi, 2021, $33B), Akero (FGF21 analogs, 2025, $47B+ conditional considerations) | Facts |
| License | Septerna, The United)atories, Lexicon, Omeros | Facts |
| Collaboration with universities and research institutions | d primary materials do not include joint research with individual universities on drug discovery and DDS | Not confirmed |
| Public funding | The reviewed primary sources do not describe government research grants for drug discovery or DDS. The Novo Nordisk Foundation is a separate legal entity. | Not confirmed |
6. Past Initiatives
| Time | Home | The meaning of drug discovery and DDS |
|---|---|---|
| 2007 - | Use Eligen SNAC for oral semaglutide with Emisphere | Introduction of formulation technology that absorbs peptides from mouth |
| February 2018 | GLP-1 products per weekOzempicLaunched in USA and Canada | Commercialization of once a week by fatty acid modulation |
| December 8, 2020 | Emisphere TechnologiesCompleted the acquisition of (US$13.5 billion + Royalty debt $4.5 billion) | Complete holding of SNAC technology. To expand into oral biologic s |
| November 18, 2021 | Dicerna PharmaceuticalsAnnounced the acquisition of shares ($33 billion) | Acquisition of RNAi (siRNA) technology base such as GalXCTM |
| 2024 views | Novo Holdings acquires three filling plants in connection with Catalent acquisition at $11 billion | Enhanced the filling capacity of injections at once |
| May 14, 2025 | SepternaJoint research and license agreement of oral low s | Exploration of oral low-dose therapies targeting GLP-1, GIP, and G-protein-coupled receptors. |
| 2025 years | Evoke trial (Phase 3) for Alzheimer's disease did not show statistically significant differences in progression suppression. Closed internal cell therapy department and expanded partnership with Aspect Biosystems. | Failure to expand adaptation and externalization of cell therapy |
| December 9, 2025 | Akero TherapeuticsAcquisition ($54 per share, $47 billion in total + conditional consideration) | FGF21 Similar Efluxifelmin (Phase 3) |
| December 22, 2025 | FDAWegovy pill(Oral semaglutide 25 mg once a day) approved (New form in the United States) | Expanding oral peptides into obesity |
| December 2025 | CagriSema Approve in the US | Two peptides |
| January 5, 2026 | Wegovy pill released in USA | ― |
| April to July 2026 | Wegovy HD (7.2mg) released in the United States.Approved Wegovy pill and 7.2mg PenStarting phase 3 (AMAZE) in July 2026. | High Dosage and Oral Formulation |
Main Clinical Trials
| Test name (NCT number) | Phase | Main evaluation items | Results published (comparison contrast/point) |
|---|---|---|---|
| OASIS 4（NCT05564117） | Phase 3b. 307 adults with complications | Weight change rate as of 64 weeks | Average 16.6% reduction (estimation when continuing treatment) at least 25mg per day. Contrast is placebo |
| REDEFINE 1 | Phase 3a. Adult of obesity and overweight | Changes in weight | 22.7% reduction at 68 weeks at CagriSema (when prasebo is reduced by 2.3% and all continue treatment) |
| REDEFINE 2 | Phase 3a. Adult of type 2 diabetes with obesity and overweight | Changes in weight | 15.7% reduction in CagriSema (3.1% reduction in placebo and if all continue treatment) |
The results are based on the company's official announcement and annual report and the content of ClinicalTrials.gov. This article does not recommend a specific drug, but does not inferior to other drugs. Please contact your doctor for treatment.
7. Future plans
0 to 6% (exchange rate)Upward revision in August 2026
Schedule for the first quarter of 2027Reviewed
The annual report includes CarboBo's original drug expansion (planned to operate in 2029), Clayton's aseptic manufacturing expansion (2029), Hirelos's original drug expansion (2028), and Odense's new plant (2027). The ability to strengthen the original medicine and aseptic filling increases se tially from 2027 to 2029Show Plan FactsHome On September 21, 2026, the company decided to show new strategic goals at Capital Markets Day. This is not confirmed in this article. Undetermined / Future。
None of the following documents have been listed Undetermined / Future。
Modality (peptide, siRNA, low))R&D expenses/SNACManufacturing location and supply capacity/ Oral and injectionBreakdown of production/siRNA 2 itemsTransition time to next stage/CagriSema and NagamadApproval period。
8. What is this company aiming for drug discovery and DDS?
This includes parts that the company does not directly state.Calculation in the range that can be read from primary informationand write with the basis.
| Read | Primary Information | |
|---|---|---|
| Extend the same active ingredient through different dosage forms (injection and tablet) and doses during the life of the substance patent | Ozempic, Wegovy, Rybelsus, Wegovy pill, and Wegovy HD | Inference |
| OralizationTwo peptides (SNAC) and low s (Septerna)Home | The objective of the acquisition of Emisphere 'expansion of oral biologics' and the oral low-concentration contract with Septerna. 'Multiple modalities including peptides and low-sensitivity s' | Facts |
| Next GenerationPeptides that simultaneously act on multiple receptors | Introduction of CagriSema (2 components), genabolide (GLP-1 and amylin single-entity), UBT251 (3 receptors) | |
| RNAiMetabolic disease targeting the liverContact Us | Joint research with Dicerna targeted more than 30 hepatocellular targets, and the current siRNA 2 items are intended for MASH and type 2 diabetes | |
| From early stages of drug discoveryIncorporate “Do you give it?” | Re ation of the R&D organization in 2025: “Considering from early stages of development of manufacturing and supply” | Facts |
Wegovy pill25mg per dayInjectable Wegovy2.4mgHome FactsHome If the injection is applied once a week, the semaglutin content required for a week is 175 mg tablets, and the injection is 2.4 mgAbout 73 times of injectionulation The calculation of this paperHome Because oral peptides have a low absorption rate from the gastrointestinal tract, it is necessary to drink a lot of amounts. At the same time, the company named "the ability of the original drug for both injection and oral agent" as the purpose of capital investment, and about 9.6K 49.6 billion is thrown into Carnbo. The more oralizing, the more the production capacity of the original drug becomesThis article reads that it is a statement that the company itself is involved Undetermined / Future。
9. Collaboration mapping of drug discovery and DDS
10. Technologies, Products and Services
| Technology | Typical Products and Initiatives | Stage |
|---|---|---|
| Fatty acid modifier peptide (injection) | Semaglutin (Ozempic, Wegovy, Wegovy HD 7.2mg). Fatty acids combine with albumin and stay in the blood for a long time | Approved |
| Oral Peptide (SNAC) | Rybelsus (diabetics), Wegovy pill (obesity, 25 mg). Eligen SNAC | Approved (December 2025, EU July 2026) |
| Multi receptor peptide | CagriSema (Cagrilinetide + Semaglutinide), Zenabolide (Injection and Oral), UBT251 | Phase 3 / Phase 1a / 2b |
| siRNA（RNAi） | G)2 GalXC (NN9733, type 2 diabetes), SLC25A5 (NN4005, MASH) | Phase 1 |
| Protein and antibody | Insulin (including weekly insulin IcoDEX), Mim8 (double-specific antibody), Efluxifelmin (FGF21 analog) | Approved / reviewed / phase 3 |
| Oral Low | Joint research with Etabopicat (Sickle Red blood cell), Septerna, LX9851 | Phase 3 / Search / Pre ical |
| Injection device / needle | We manufacture NovoFine Plus needles with repeated devices and disposable devices, devices and hyoring in Tianjin | Production |
When making peptides orally, it is effective on the side of the material. FirstAb er SNACThat said, the company acquires Emisphere with this technology and explains that it expands oral biologics FactsHome In order to use this additive in large quantities with the active ingredient in tablets, the production and quality control of the additive itself will be a component that affects the supply of products (instructions). 2ndOriginal medicineComment As calculated in Chapter 8, tablets contain approximately 73 times a week compared to injections The calculation of this paper。
On the side of the injection, 20-F is hyrerozu (device and component), Tianjin (device), and hyoring (NovoFine Plus needle)Manufacturing devices and needles at our own factoryindicates FactsHome The resin component of the pen type syringe, the glass of the cartridge, the rubber plug, and the coating of the needle are the material area directly connected to the stability and usability of the peptide formulation. The company's material specifications are not disclosed.
11. Risks that this company has
| Risks | ||
|---|---|---|
| Concentration in one molecule | Three semaglutide products account for about 74% of sales. Substance patents are scheduled to expire in 2026 in China, 2031 in Japan and Europe, and 2032 in the United States. | Facts |
| 2026 Forecast | Forecast of net sales growth rate from 0 to 6% after adjustment. Price drop in the United States and material patent expiration in some markets | Facts |
| Development failure and loss | Decrease in product development from April to June 2026: 3 billion 630 million (of which Montrenavent: 4 billion 400 million). ZEUS test (Zircibekimab) and Evoke test (Alzheimer's disease) did not achieve key evaluation items | Facts |
| Supply s | In 2025, there was intermittent supply for some products such as Ozempic, and this is described in 20-F | Facts |
| Recovery of large factory investment | While large investments were made in 2027 to 2029, such as Carbobody Clayton, it is expected that 2026 will decrease. If the demand falls below the assumed level, the equipment will become overused | |
| Rapid increase in drug demand due to oralization | Tablets are calculated using approximately 73 times per week. The higher the ratio of the oral agent, the more the original efficacy can be maintained | |
| Impact of Organizational Reform | About 9,000 people were reorganized in 2025 and the R&D organization was reorganized. The internal cell therapy department was closed | Facts |
12. Glossary
- Semagletide
- GLP-1 receptor peptide. Fatty acids were conjugated with albumin, making it effective for a long time.
- bio
- Most protein in the blood. When the drug binds to albumin, it becomes difficult to discharge and decompose in the kidneys.
- SNAC（Eligen SNAC）
- Ab ing technology to absorb peptides from the stomach. Used in oral semaglutides.
- GLP-1 receptor agonist
- Drugs that stimulate receptors of hormone GLP-1 insulin content and appetite.
- Amylin
- It is a hormone that comes out of the panc . Caglillintide is its analogue.
- siRNA／RNAi
- A mechanism (RNA ) that suppresses the work of a specific gene with a short RNA and the drug.
- GalXC
- RNAi technology foundation developed by Dicerna. Includes chemical design to deliver to the liver etc.
- FGF21 analog
- A protein drug designed based on the hormone FGF21 that adjusts the . Developed by MASH
- MASH
- Metabolic dysfunction-related fat hepatitis. Diseases of the liver with obesity and diabetes.
- Fill Finish
- The process of filling aseptic chemicals into syringes and vials and making final products.
- Growth rate compared to the previous year, except for currency ctuations.
- Form 20-F／6-K
- Annual reports and reports from time to time that foreign companies listed in the US submit to SEC.
Concept diagram of AI generation13. Source
- Novo Nordisk A/S Form 20-F for the) year ended December 31, 2025 Business overview, employees, R&D system, personnel, major manufacturing bases, investment plan, phase 3 items, patent deadline, acquisition of Akero, acquisition of Catalent-related filling plant and shareholder composition. https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231.htm
- Novo Nordisk A/S Annual Report 2025 Sales and product sales, research and development costs, capital investments, and 2026 Sales, development history of semaglutinide (fatty acid modifier), table (including siRNA), affiliation (Septerna, UBT251, Lexicon, Aspect Biosystems, Omeros), clinical trial results, patent expiration schedule, list of subsidiaries (Dicerna, Emisphere). https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231_d2.htm
- Novo Nordisk A/S Financial report for the period from January 1, 2026 to June 30, 2026 (Form 6-K, August 4, 2026). Sales, R&D, and capital investment in January and June 2026, Wegovy pill release and ZE approval, loss, ZEUS test, revision of. s, phase 3 of the Nagumd. https://www.sec.gov/Archives/edgar/data/353278/000035327826000023/caq22026.htm
- Novo Nordisk A/S Wegovy® pill FDA approval (Company announcement, December 22, 2025). FDA approval, OASIS 4 results and test design. https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=916472
- Novo Nordisk A/S SNAC oral delivery technology (November 6, 2020) https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=33374
- Novo Nordisk A/S November 2019 https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=38064
- Novo Nordisk A/S Novo Nordisk to acquire Dicerna Pharmaceuticals https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=87435
- Novo Nordisk A/S・Septerna, Inc. Septerna and Novo Nordisk to collaborate on oral small medicine medicines (May 14, 2025). https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=916006
- ClinicalTrials.gov NCT05564117 (OASIS 4) Phase 3 targets, number of registrations, and point of evaluation. https://clinicaltrials.gov/study/NCT05564117
- Novo Nordisk A/S Official website (for confirmation of company profile). https://www.novonordisk.com/
14. Response table of claims and sources
| Content | ||
|---|---|---|
| Formal name, head office location, listed market, shareholder composition (Novo Holdings owns all shares of A) | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231.htm |
| Founded in 1923 | Facts | Source 6 https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=38064 |
| Sales and R&D expenses for 2024 to 2025 (16.8・ | Facts | Source 2 https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231_d2.htm |
| Ozempic, Wegovy, and Rybelsus account for about 73.9% of net sales | Calculation in this article | Calculated from product-level sales in Source 2 https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231_d2.htm |
| Sales, R&D expenses, capital investment, loss, and 2026 forecasts from January to June 2026 | Facts | Source 3 https://www.sec.gov/Archives/edgar/data/353278/000035327826000023/caq22026.htm |
| Over 10,000 R&D organizations, based on research bases and protein chemistry, use RNAi and low s, policy of R&D expenses rate 15 to 17% | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231.htm |
| Main manufacturing bases and factory investments, operating schedules, device and needles | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231.htm |
| Three former Catalent filling plants were acquired at $11 billion and the terms of acquisition of Akero | Facts | Source 1 https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231.htm |
| Semaglutinized fatty acid modulation and albumin bonding once a week | Facts | Source 2 https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231_d2.htm |
| Expiration of Sub) Patents in Semaglutin (USA 2032) | Facts | Source 1・2 https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231_d2.htm |
| Test results of trials (siRNA 2 items, CagriSema, genabolide, UBT251), partners, and CagriSema | Facts | Source 2 https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231_d2.htm |
| USA Approval for Wegovy pill (December 22, 2025) and OASIS 4 Results | Facts | Source 4・9 https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=916472 |
| Completion date with Emisphere acquisition (Partnership since 2007, $18 billion, SNAC) | Facts | Source 5・6 https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=33374 |
| Acquisition of Dicerna (co-research of more than $33 billion in share value, GalXC and hepatocellular targets) | Facts | Source 7 https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=87435 |
| Oral low-contracts and secretions with Septerna | Facts | Source 8 https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=916006 |
| Tablets use approximately 73 times the original medicine of the injection (if the injection is set to 2.4 mg once a week) | The calculation of this paper | 。ulation of this paper (cal。d from the dose of source 4). The interval between injections is assuming this article) |
| Drug and DDS Classification | The calculation of this paper | This article does not specify the company name. The company name is an example from the series of companies in this article. |
| Research and development costs by modalities, SNAC manufacturing capacity, next phase of siRNA, approval time such as CagriSema, content of capital market day | Undetermined / Future | Unconfirmed in the first article or in this article. Don't guess https://www.sec.gov/Archives/edgar/data/353278/000035327826000023/caq22026.htm |
| Individual collaborative research with universities and receipt of public funds | Undetermined / Future | There is no separate description in the source 1 and 2. This article does not break even if it is not present https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231.htm |
| Explanation that absorbent promoters and device components affect supply and stability | Undetermined / Future | General technical commentary, not disclosure of specifications of the company |
| Reading maximizing the same active ingredient in differences between dosage and form | Interpre of this paper from the product composition and patent deadline of Source 1 and 2 | |
| The next generation reads peptides acting on multiple receptors as the main axis | Interpretation of this paper from the pipeline of Source 2 | |
| RNAi reads from metabolic diseases targeting the liver | Interpre of this article from Source 2 and 7 | |
| Risk of factory investments by oralization with large-scale plant investments | Interpre of this article from Source 1・2・4 |
Last Updated:September 26, 2026/Troy Technical
All numbers in this article are based on the legal disclosure document (including annual report) submitted to the US Securities and Exchange Commission (SEC), the official announcement of the company, and the ClinicalTrials.gov。 information. We do not use estimates and media-based numbers of survey companies. The "、ulation" section is an interpretation that the article reads from the primary information and is not an announcement of the company. This article is not medical advice, but is not recommended to use certain drugs.