Novo Nordisk

Novo Nordisk is Eric Ries’s central Steward Ownership case in Eric Ries: Incorruptible by Design. Ries says the company began around bringing insulin technology from Canada to Denmark while protecting life-saving medicine from pricing temptation, and that its foundation-centered structure has endured since the 1920s while creating large shareholder value.

Key Claims

• Novo Nordisk is presented as evidence that mission-preserving ownership does not necessarily prevent major financial success.
• Its nonprofit-foundation center and for-profit subsidiary make it a concrete case of industrial foundation or Steward Ownership design.
• The insulin example ties Human Flourishing Profit to a high-stakes product where pricing, access, and trust are central.

Connections

• Steward Ownership - governance structure associated with the case.
• Human Flourishing Profit and Trust As Business Asset - value frame for healthcare trust and mission.
• Zeiss and Long-Term Benefit Trust - other alternative governance examples.