Novo Nordisk history

By 1931 production demands required the Pedersens to leave their cellar and rent space in a former dairy factory.

Yet it was not until Knud Hallas-Moller joined Novo in 1937, immediately after graduating in pharmacy, that the company's research activities accelerated.

An additional product line was added to Novo's operations in 1938, thus expanding the company's activities outside the exclusive task of manufacturing insulin.

By 1947 Novo researchers obtained the desired results and the company became one of the first to commercially produce this stable form of penicillin.

Harald and Thorvald Petersen founded the Novo Foundation in 1951

In 1955 Novo purchased a piece of land in Bagsvaerd, an area north of Copenhagen.

In 1974, Novo Industri A/S was listed on the Copenhagen Stock Exchange, with the Novo Foundation retaining a controlling interest in accordance with the Articles of Association and the owners’ wishes.

In 1975, to celebrate Novo's 50th anniversary, company employees were allowed the opportunity to become co-owners through the purchase of stock at nominal value.

1989: Novo Industri merges with Nordisk Gentofte.

Novo rolled out a depression drug, Seroxat--known as Paxil in the United States--in 1992.

In 1994, the United States sales office was relocated from Connecticut to North Carolina.

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Novo Nordisk stepped up its attack on the United States insulin market, dominated by Eli Lilly, by forming another alliance with Schering-Plough Corp. in 1998.