Novo Nordisk, a pharmaceutical company founded in Denmark in 1923, has been a pioneer of innovative insulin delivery methods for the treatment of diabetes with brand names LevomirÃÂ® (an injection pen that uses a pre-filled, replaceable insulin cartridge) and AERxÃÂ® (an insulin inhalant). While Novo Nordisk continues to be the world leader in diabetes treatment, the company has expanded into other areas of research and development including human growth hormone and hemostatic products in their biopharmaceuticals. Biopharmaceuticals is the method of developing products by biological process rather than chemical process often utilizing recombinant DNA, or DNA that is a combination of two or more organisms (Exploratorium, 2006).
Ypsomed Selfcare Solutions, a company based in Burgdorf, Switzerland, was established in 2003 as a result of the split of the Burgdorf-based Disetronic Groups and is also involved in the medical appliances and equipment industry. Ypsomed is involved in the development and manufacture of custom-made injection pens and compatible pen needles for the administration of self-injection solutions by patients (Ypsomed Selfcare Solutions, 2003-2006).
The company's products can be used for a variety of applications and therapies such as insulin therapy, growth hormone therapy, and osteoporosis and blood glucose monitoring. Ypsomed currently distributes its products primarily in Europe, but expect their market to grow worldwide due to the dramatic increase in diabetes cases.
PriceWaterhouseCoopers is the auditor of records for these two companies (Ypsomed Annual Report, 2005 and Novo Nordisk Annual Report, 2005).
Novo Nordisk Financial Data-2005 Annual Report
Novo Nordisk was the first Scandinavian company to be quoted on the New York Stock Exchange, and is now an international company with representation in 69 countries (Wikipedia, 2005). The 2005 annual report states the company had a turnover of DKK 33.8 billion, or approximately 4.5 billion EUR (X-rates, 2006). Total sales for diabetes...