Managing Director: Melvin Oscar D'souza
Emphasis on patient awareness
Novo Nordisk has retained its leadership position in the diabetes care segment in FY2012-2013 with estimated revenues of `712 crore. The company recorded over 10 percent growth in this segment. The product portfolio is a healthy mix of different types of insulins. It consists of NovoRapid (a rapid-acting analogue), NovoMix (a premix analogue), Levemir (long-acting basal insulin), Victoza, Human insulins like Actrapid, MixTard and Insulatard. Additionally Novo Nordisk also markets its insulin delivery device, NovoPen that is available for use with appropriate types of insulin.
One of the features in favour of Novo Nordisk is that it is said to have a lower average price as compared to its competitors. The price is also found to be lowest in India as compared to the other countries it operates in. Across the world too, Novo Nordisk is a leader in this therapeutic segment. In Europe Novo Nordisk is said to have more than 51 percent share in insulin space by volume. Novo Nordisk in March announced Tresiba, a simple once-a-day injection, which last for 40 hours instead of a maximum of 18 hours.
Novo Nordisk has been focusing on its customer centric initiatives through various programs over the last few years. Changing Diabetes for Children is one such ongoing initiative partnered with the World Diabetes Foundation and local governmental bodies, in various countries including India that looks at children with Type 1 diabetes and tries to improve access to necessary medication.
Novo Nordisk has also been creating awareness about diabetes among the general population as well. It had organized a unique diabetes exhibition aimed at creating awareness about diabetes among the people in Bihar along with providing free diabetes screening for the participants. Such efforts have been replicated elsewhere as well.
Novo Nordisk has a long standing agreement with Torrent Pharma for the formulation and packaging of Insulin, exclusively for Novo Nordisk to be carried out by the latter. Torrent has been manufacturing insulin for Novo Nordisk's India requirement for more than 15 years now.
In addition to its activities in the insulin space, Novo Nordisk also markets its brand of growth hormone, Norditropin. It also produces a recombinant Factor VIIa marketed under the name NovoSeven for the treatment of haemophilia A and B.
Company: Novo Nordisk
Business: Insulin and insulin anal
Revenue: 2013 `712 crore*