Over the past decade, Novo Nordisk has steadily sown the seeds of innovation, which began to fully bear fruit in 2023, leading the company to take the top spot on this year's Innovation Index — a notable milestone as it celebrates its centenary.

Surging up the index by an impressive 18 places, Novo Nordisk displaced Pfizer from its two-year top position.

The company had a robust revenue increase of more than 30% along with a substantial rise in net income. In particular, 90% of total sales came from the company's obesity and diabetes care division, anchored by its flagship glucagon-like peptide 1 (GLP-1) semaglutide (branded as Ozempic and Wegovy). Novo Nordisk's strong performance in 2023 reflects the growing adoption of this innovative treatment, which is benefiting over 40 million people globally. With over one billion people worldwide affected by obesity, addressing this unmet need has been a win for patients and Novo Nordisk alike.

Even as Novo Nordisk capitalized on demand for semaglutide, which required an expansion of production capacity, other innovations were still firmly underway. Specifically, the company’s first-ever RNA interference-derived therapy, Rivfloza (nedosiran), was approved for lowering urinary oxalate levels in patients with primary hyperoxaluria type 1 and relatively preserved kidney function. The company also strengthened its late-stage pipeline in rare blood disorders with Phase 3 trials for a next-generation bispecific antibody for hemophilia (mim8) and a pyruvate kinase activator for sickle cell disease (etavopivat). Pending regulatory approval is Awiqli (insulin icodec), which would be the world's first once-weekly basal insulin.

Novo Nordisk demonstrated commitment to pursuing a return on invention, with novel therapies like CagriSema (a combination of cagrilintide and semaglutide) entering Phase 3 development for Type 2 diabetes and obesity. The company also expanded its presence in cardiovascular disease with the acquisition of ocedurenone, a small molecule, non-steroidal mineralocorticoid receptor antagonist (nsMRA), for uncontrolled hypertension.

Novo Nordisk's journey to the summit of the Innovation Index symbolizes a century-long commitment to transformative healthcare. It reflects exceptional performance on multiple fronts, including pipeline development and financial strength