NNE Pharmaplan is managed according to a set of principles and commitments formulated in the NNE Pharmaplan Way of Management. This includes the Company’s mission, vision and strategic goals, its values and fundamental rules of management that all managers and employees must follow, as well as the Company’s commitment to the continuous improvement of its financial, environmental and social performance.
Ownership
NNE Pharmaplan A/S is 100% owned by Novo Nordisk A/S and is included in the Consolidated Financial Statements of Novo Nordisk A/S. The Annual Report of Novo Nordisk A/S can be obtained by contacting Novo Nordisk A/S, Novo Allé, DK-2880 Bagsværd, Denmark. The ultimate Parent Company is Novo Nordisk Foundation, Brogårdsvej 70, DK-2820 Gentofte, Denmark.
Reporting
NNE Pharmaplan’s consolidated financial statements are prepared in accordance with IFRS adopted by EU and published in both Danish and English. The financial year covers the period from 1 January to 31 December. As a fully owned subsidiary of Novo Nordisk, NNE Pharmaplan is not obliged to publish interim reports and does not do so at present. Following the acquisition of Pharma-plan in 2007, the Company is currently updating its procedures and formats for a future consolidated reporting on the combined company’s key non-financial assets with a view to presenting this in the Annual Report 2008.
Board of Directors
NNE Pharmaplan’s Board of Directors is elected every year at the Annual General Meeting. The Board is made up of three members representing the parent company and two external members. The Board of Directors also includes two employee representatives who are elected by the NNE Pharmaplan employees for a term of four years. The members contribute valuable knowledge and experience in finance, legal matters, pharmaceutical production, the biotech industry, consulting and other relevant areas.
The Board of Directors holds four meetings a year, including a full-day meeting dedicated to discussing and updating the Company’s strategy. In addition to its regular meetings in 2007, the board met and held a number of telephone meetings prior to and following the acquisition of Pharmaplan. The procedures for the Board of Directors are reviewed at least once every second year, and have been updated in 2007.
The Board of Directors is kept up-to-date with the Company’s business development and performance through a monthly report from the NNE Pharmaplan Management team.
Remuneration
NNE Pharmaplan’s remuneration policy covers its external board members, who receive a fixed fee; and the NNE Pharmaplan Management team members, who receive a combination of a fixed salary, cash bonus, pension contribution and share-based payment. The remuneration policy and share-based programmes are approved by the Board of Directors.
Risk management
In 2007, the management discussed the Company’s risk management policy, and in 2008 a new risk management system, which will cover both the Company’s financial and operational risks, will be implemented.
Audit
At the Annual General Meeting in 2007, based on a recommendation from the Board of Directors, PricewaterhouseCoopers was re-elected as NNE Pharmaplan’s auditor. The auditor participates in the board meeting in which the Annual Report is presented and approved.
Organisation
The NNE Pharmaplan Management team is based in the Company’s head office in Søborg, Denmark. The head office also houses the Company’s other group functions, including Finance, Legal & IT and People & Communications.
NNE Pharmaplan’s Operations Management team is organised with each of the strategic business units (China, Denmark, France, Germany, Sweden and the USA) reporting to the Chief Operating Officer (COO). The Operations Management also includes global Project Governance, Sales & Marketing and Consulting reporting to the COO.
A global Disciplines Management organisation, referring to the General Manager for the Danish operations, was introduced in 2007 with the responsibility to provide central support to local sales and, within each discipline, consistent development and distribution of key competences across all markets and business units.
Report financial fraud and business ethics violations (Whistleblower)
Please report an issue or complaint regarding financial fraud or business ethics violations. You will be redirected to our audit committee, where the issue will be handled.