XML 140 R18.htm IDEA: XBRL DOCUMENT v3.22.0.1
Other disclosures (Tables)
12 Months Ended
Dec. 31, 2021
Additional information [abstract]  
Share-based payment expensed in the income statement
Share-based payment expensed in the income statement
DKK million202120202019
Restricted stock units to employees18918948
Long-term share-based incentive programme (Management Board)1
23416286
Long-term share-based incentive programme (management group below Management Board)598436195
Shares allocated to individual employees193634
Share-based payment expensed in the income statement1,040823363
1. In 2021, Novo Nordisk introduced a new share-based compensation programme with terms, which amortises the grant date valuation over three years (2018, 2019 and 2020 were amortised over four years). The 2021 expense includes amortisation of the 2018, 2019, 2020 and 2021 programmes.
General terms and conditions of launched programmes
General terms and conditions of launched programmes
Restricted stock units to employeesShares for Management BoardShares for management group below Management BoardShares allocated to individual employees
202120202019202120202019202120202019202120202019
Number of shares awarded in the year (million)— — 2.1 0.5 0.4 0.5 1.6 1.0 1.3 0.1 0.0 0.2 
Value per share at launch (DKK)— — 307 423 411 298 423 411 298 538 391 311 
Total market value at launch (DKK million)— — 660 223 152 152 649 416 387 71 17 48 
Performance and vesting period
2019 to 20232021 to 20232020 to 20232019 to 20222021 to 20232020 to 20232019 to 20222021 to 20242020 to 20232019 to 2022
Allocated to recipientsFeb 2023Feb 2024Feb 2024Feb 2023Feb 2024Feb 2024Feb 2023202420232022
Amortisation period— — 3.5 years3 years4 years4 years3 years4 years4 years3 years3 years3 years
Outstanding restricted stock units
Outstanding restricted stock units (million)Restricted stock units to employeesShares for Management BoardShares for management group below Management BoardShares allocated to individual employeesTotal
202120202019202120202019202120202019202120202019202120202019
Outstanding at the beginning of the year2.1 2.1 1.5 1.8 1.3 1.2 4.5 3.2 2.7 0.2 0.3 0.2 8.6 6.9 5.6 
Released allocated shares(0.1)(0.0)(1.4)(0.3)(0.1)(0.4)(0.6)(0.2)(0.7)(0.1)(0.1)(0.1)(1.1)(0.4)(2.6)
Cancelled allocated shares— — (0.1)— (0.0)(0.0)(0.3)(0.1)(0.1)(0.0)(0.0)(0.0)(0.3)(0.1)(0.2)
Allocated in the year— — 2.1 0.5 0.4 0.5 1.6 1.0 1.3 0.1 0.0 0.2 2.2 1.4 4.1 
Performance adjustment1
— — — 0.2 0.2 — 0.3 0.6 — 0.0 — — 0.5 0.8 — 
Outstanding at the end of the year2.0 2.1 2.1 2.2 1.8 1.3 5.5 4.5 3.2 0.2 0.2 0.3 9.9 8.6 6.9 
1. The number of shares for Management Board and management group below Management board has been adjusted as the financial and non-financial targets set by the Board are expected to be exceeded for the 2021 programme. The number of shares for Management Board and management group below Management board has been adjusted as the sales growth target set by the Board for the 2018 programme is exceeded and is expected to be exceeded for the 2019 and 2020 programmes.
Contractual obligations not recognised in the balance sheet
Contractual obligations not recognised in the balance sheet
DKK millionCurrentNon-currentTotal
2021
Leases1
145 636 781
Research and development obligations4,196 6,357 10,553
Research and development – potential milestone payments2
771 4,220 4,991
Commercial product launch – potential milestone payments2
— 5,966 5,966
Purchase obligations relating to investments in property, plant and equipment545 — 545
Other purchase obligations13,407 5,998 19,405
Total obligations not recognised in the balance sheet19,064 23,177 42,241
2020
Leases1
152 612 764 
Research and development obligations2,733 4,502 7,235 
Research and development – potential milestone payments2
205 3,878 4,083 
Commercial product launch – potential milestone payments2
— 6,105 6,105 
Purchase obligations relating to investments in property, plant and equipment339 — 339 
Other purchase obligations7,528 4,535 12,063 
Total obligations not recognised in the balance sheet10,957 19,632 30,589 
1. Predominantly relates to estimated variable property taxes, leases committed but not yet commenced and low value assets.
2. Potential milestone payments are associated with uncertainty as they are linked to successful achievements in research activities.
Fair value of recognized assets and liabilities
The provisional fair value of recognised assets and liabilities is as follows:

DKK million2021
Intellectual property rights18,687
Other intangible assets24
Financial assets31
Cash3,033
Deferred tax assets/liabilities, net(3,480)
Other net assets(607)
Net identifiable assets acquired17,688
Goodwill4,346
Purchase price22,034
Settlement of pre-existing relationship(145)
Fair value of existing shareholdings(573)
Consideration transferred21,316
Cash acquired(3,033)
Cash used for acquisition of businesses18,283
Material transactions with related parties
Material transactions with related parties
DKK million202120202019
Novo Holdings A/S
Purchase of Novo Nordisk B shares6,6955,9634,894
Dividend payment to Novo Holdings A/S6,1445,7675,580
NNIT Group
Services provided by NNIT593775941
Dividend payment from NNIT(4)(18)(20)
Novozymes Group
Services provided by Novo Nordisk(116)(113)(132)
Services provided by Novozymes7872103
CS Solar Fund XIV
Purchase of shares by Novo Nordisk97
Liability for capital commitment1
389
Distribution by CS Solar Fund XIV(385)
1. The liability disclosed for 2019 related to capital commitment was paid in 2020
     (DKK 392 million).
Fee to statutory auditors
DKK million202120202019
Statutory audit262626
Audit-related services334
Tax advisory services4911
Other services444
Total fee to statutory auditors374245
Companies in the Novo Nordisk Group
Activity:  Sales and marketing Production
 Research and development Services/investments
Company and countryPercentage of shares ownedActivity
Parent company
Novo Nordisk A/S, Denmark
Subsidiaries by geographical area
North America Operations
Novo Nordisk Canada Inc., Canada100
Novo Nordisk Inc., United States100
Novo Nordisk North America Operations A/S, Denmark100
Novo Nordisk Pharmaceutical Industries LP, United States100
Novo Nordisk Pharmatech US, Inc., United States100
Novo Nordisk Pharma, Inc., United States100
Novo Nordisk Research Center Indianapolis, Inc., United States100
Novo Nordisk Research Center Seattle, Inc., United States100
Novo Nordisk US Bio Production, Inc., United States100
Novo Nordisk US Commercial Holdings, Inc., United States100
Novo Nordisk US Holdings Inc., United States100
Corvidia Therapeutics, Inc., United States100
Dicerna Pharmaceuticals, Inc., United States100
Emisphere Technologies, Inc., United States100
International Operations
Novo Nordisk Pharmaceuticals A/S, Denmark100
Novo Nordisk Pharma Operations A/S, Denmark100
Novo Nordisk Region AAMEO and LATAM A/S, Denmark100
Novo Nordisk Region Europe A/S, Denmark100
Novo Nordisk Region Japan & Korea A/S, Denmark100
EMEA
Aldaph SpA, Algeria100
Novo Nordisk Pharma GmbH, Austria100
S.A. Novo Nordisk Pharma N.V., Belgium100
Novo Nordisk Pharma d.o.o., Bosnia and Herzegovina100
Novo Nordisk Pharma EAD, Bulgaria100
Novo Nordisk Hrvatska d.o.o., Croatia100
Novo Nordisk s.r.o., Czech Republic100
Novo Nordisk Denmark A/S, Denmark100
Novo Nordisk Pharmatech A/S, Denmark100
Novo Nordisk Egypt LLC, Egypt100
Novo Nordisk Farma OY, Finland100
Novo Nordisk, France100
Novo Nordisk Production SAS, France100
Novo Nordisk Pharma GmbH, Germany100
Novo Nordisk Hellas Epe., Greece100
Novo Nordisk Hungária Kft., Hungary100
Neotope Neuroscience Limited, Ireland100
Company and countryPercentage of shares ownedActivity
Novo Nordisk Limited, Ireland100
Novo Nordisk Ltd, Israel100
Novo Nordisk S.P.A., Italy100
Novo Nordisk Kazakhstan LLP, Kazakhstan100
Novo Nordisk Kenya Ltd., Kenya100
Novo Nordisk Pharma SARL, Lebanon100
UAB Novo Nordisk Pharma, Lithuania100
Novo Nordisk Farma dooel, North Macedonia100
Novo Nordisk Pharma SAS, Morocco100
Novo Nordisk B.V., Netherlands100
Novo Nordisk Finance (Netherlands) B.V., Netherlands100
Novo Nordisk Pharma Limited, Nigeria100
Novo Nordisk Norway AS, Norway100
Novo Nordisk Pharmaceutical Services Sp. z o.o., Poland100
Novo Nordisk Pharma Sp.z.o.o., Poland100
Novo Nordisk Comércio Produtos Farmacêuticos Lda., Portugal100
Novo Nordisk Farma S.R.L., Romania100
Novo Nordisk Limited Liability Company, Russia100
Novo Nordisk Production Support LLC, Russia100
Novo Nordisk Saudi for Trading, Saudi Arabia100
Novo Nordisk Pharma d.o.o. Belgrade (Serbia), Serbia100
Novo Nordisk Slovakia s.r.o., Slovakia100
Novo Nordisk, d.o.o., Slovenia100
Novo Nordisk (Pty) Limited, South Africa100
Novo Nordisk Pharma S.A., Spain100
Novo Nordisk Scandinavia AB, Sweden100
Novo Nordisk Health Care AG, Switzerland100
Novo Nordisk Pharma AG, Switzerland100
Novo Nordisk Tunisie SARL, Tunisia100
Novo Nordisk Saglik Ürünleri Tic. Ltd. Sti., Turkey100
Novo Nordisk Ukraine, LLC, Ukraine100
Novo Nordisk Pharma Gulf FZE, United Arab Emirates100
Novo Nordisk Holding Limited, United Kingdom100
Novo Nordisk Limited, United Kingdom100
Ziylo Limited, United Kingdom100
Region China
Novo Nordisk (China) Pharmaceuticals Co., Ltd., China100
Novo Nordisk (Shanghai) Pharma Trading Co., Ltd., China100
Beijing Novo Nordisk Pharmaceuticals Science & Technology Co., Ltd., China100
Novo Nordisk Region China A/S, Denmark100
Novo Nordisk Hong Kong Limited, Hong Kong100
Novo Nordisk Pharma (Taiwan) Ltd., Taiwan100
Company and countryPercentage of shares ownedActivity
Rest of World
Novo Nordisk Pharma Argentina S.A., Argentina100
Novo Nordisk Pharmaceuticals Pty. Ltd., Australia100
Novo Nordisk Pharma (Private) Limited, Bangladesh100
Novo Nordisk Produção Farmacêutica do Brasil Ltda., Brazil100
Novo Nordisk Farmacêutica do Brasil Ltda., Brazil100
Novo Nordisk Farmacéutica Limitada, Chile100
Novo Nordisk Colombia SAS, Colombia100
Novo Nordisk India Private Limited, India100
Novo Nordisk Service Centre (India) Pvt. Ltd., India100
PT. Novo Nordisk Indonesia, Indonesia100
Novo Nordisk Pars, Iran100
Novo Nordisk Pharma Ltd., Japan100
Novo Nordisk Pharma (Malaysia) Sdn Bhd, Malaysia100
Novo Nordisk Pharma Operations (Business Area) Sdn Bhd, Malaysia100
Novo Nordisk Mexico S.A. de C.V., Mexico100
Novo Nordisk Pharmaceuticals Ltd., New Zealand100
Novo Nordisk Pharma (Private) Limited, Pakistan100
Novo Nordisk Panama S.A., Panama100
Novo Nordisk Peru S.A.C., Peru100
Novo Nordisk Pharmaceuticals (Philippines) Inc., Philippines100
Novo Nordisk Pharma (Singapore) Pte Ltd., Singapore100
Novo Nordisk India Holding Pte Ltd., Singapore100
Novo Nordisk Pharma Korea Ltd., South Korea100
Novo Nordisk Lanka (PVT) Ltd, Sri Lanka100
Novo Nordisk Pharma (Thailand) Ltd., Thailand100
Novo Nordisk Venezuela Casa de Representación C.A., Venezuela100
Other subsidiaries and associated companies
NNE A/S, Denmark100
NNIT A/S, Denmark18
CS Solar Fund XIV, LLC, United States99