In financial terms, Novo Nordisk's biggest single commitment is its annual donations to the World Diabetes Foundation. At the company's Annual General Meeting in 2002, the shareholders made an agreement obligating the company over a 10-year period to make annual donations to the World Diabetes Foundation of 0.25% of the net insulin sales of the preceding financial year. It is estimated that the total donations will be around EUR 70 million; however, annual donations may not exceed DKK 65 million or 15% of taxable income. In 2005 the donation amounted to DKK 52 million.
In addition to the World Diabetes Foundation, Novo Nordisk has made a number of corporate and local donations. In 2005 the total figure amounted to DKK 125 million.
The Novo Nordisk Haemophilia Foundation The Novo Nordisk Haemophilia Foundation (NNHF) was set up in 2005 as a show of commitment by Novo Nordisk to social responsibility within haemophilia care and as a response to the significant need for improving haemophilia treatment in developing countries. The foundation is dedicated to supporting the improvement of haemophilia care through the funding of sustainable local and regional projects and the advancement of relations between healthcare professionals, patient associations and authorities within the haemophilia community.
NNHF operates on an annual donation of approximately 10 million Danish kroner from Novo Nordisk. To date, three projects in Algeria, Poland and Uzbekistan have received approval for funding from 2005 onwards, and many more projects from around the world are in the pipeline.
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