1、 Novo Nordisk Annual Report 2020Team Novo Nordisk,the worlds first all-diabetes professional cycling team,are racing with 100 on their jersey to celebrate the 100-year anniversary of the discovery of insulin Novo Nordisk A/S-Novo All 1,2880 Bagsvrd,Denmark-CVR no.24256790 ContentsManagement reviewIn
2、troducing Novo NordiskLetter from the Chair .3Letter from the CEO .5Novo Nordisk at a glance.7Business model.8Performance highlights .9Strategic AspirationsPurpose and sustainability .11 Innovation and therapeutic focus .20Commercial execution .26Financials .29Corporate governanceRisk management.34S
3、hares and capital structure.36Corporate governance.38Governance practices.40Board of Directors.42Executive Management .45Consolidated statementsConsolidated financial statementsIncome statement.47Cash flow statement.48Balance sheet .49Equity statement.50Notes to the consolidated financial statements
4、 .51Consolidated ESG statement(supplementary information)Statement of ESG performance .81Notes to the consolidated ESG statement .82Statements and Auditors ReportsStatement by Board of Directors and Executive Management.88Independent Auditors Reports .89Independent Assurance Report on the ESG statem
5、ent.91Additional information More information .92Product overview.93Mandy is part of Team Novo Nordisk,the worlds first all-diabetes professional cycling teamNovo Nordisk Annual Report 2020 /2Introducing Novo Nordisk /Strategic Aspirations /Corporate governance /Consolidated statements /Additional i
6、nformationLetter from the ChairThe devastating impact of COVID-19 on societies and economies in 2020 intensified existing challenges such as inequality and poverty.However,in times of crisis,businesses play a critical role in mobilising resources and providing solutions.Novo Nordisk has worked hard