Novo Nordisk sees limits to growth in Denmark

Novo Nordisk’s CEO Lars Fruergaard Jørgensen suggests future growth and investments are likely to shift away from Denmark due to expansion limits. The pharmaceutical giant has a key role in Denmark’s economy, with a significant impact on import figures and tax revenue. Currently, more investments are flowing to the US, where the company makes 60% of its sales and benefits from the country’s lead in medical innovation. Jørgensen, now also chairing Efpia, is challenging EU plans to shorten data protection that could hinder the drug approval process and allow rivals to produce similar drugs sooner. The drug development process is lengthy; it can take a decade to recoup investments.