
Novo Nordisk Foundation to Increase Foreign Donations
The Novo Nordisk Foundation, led by Chairman Lars Rebien Sørensen, is gearing up to allocate a major part of its expected growth in charitable contributions outside Denmark, while still increasing funding within the country. Sørensen notes the contrast between the source of the foundation’s income, 99% of which comes from abroad, and the current focus of its donations, 90% of which are within Denmark. Last year, the foundation distributed 9.1 billion kroner in support. Novo Nordisk’s CEO, Lars Fruergaard Jørgensen, also indicated limits to growth in Denmark, suggesting a future shift towards more investments abroad. Significant attention is given to the U.S., where 60% of Novo Nordisk’s sales occur and advancements in medicine are prominent.