EMCC European Monitoring Centre on Change

Novo Nordisk

Company/Organisation:
Novo Nordisk

Geographic Location

Country: European Union

Company

Sector: Manufacturing
Manufacture of pharmaceuticals, medicinal chemical and botanical products
21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
Number Employed: 3200
Group: Novo

Employment Effects

Announcement Date: 28-10-2011
Planned Job Reductions min: 250
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-12-2011
Direct Dismissals: 250

Additional Information

Multinational pharmaceutical company Novo Nordisk, based in Bagsværd outside Copenhagen in Denmark, plans to cut 250 jobs in the European sales division.

Reasons for the restructuring are said to be the pressure on prices of insulin products. It is reported that health reforms and pressures from competitors have decreased growth in the insulin business in Europe to fewer than 3%, Novo informed on 28. October 2011.

Novo has 32000 employees in Europe of which ca. 43% work in Denmark.