Exclusive Interview with Ms. Xiaping Zhou of Novo Nordisk: Resilience and Agility, Embracing Innovation and Change

Over the past few years, GLP-1 receptor agonists have been the most prominent drugs on the market. On September 19, the Lasker Award—often regarded as a 'barometer' for the Nobel Prize—was announced. Three scientists, including Lotte Bjerre Knudsen (Chief Scientific Advisor for Research and Early Development at Novo Nordisk), received the Lasker-DeBakey Clinical Medical Research Award for their 'discovery and development of GLP-1-based medicines, which have revolutionized obesity treatment.' Let the numbers speak: Benefiting from strong sales of its core products, Novo Nordisk’s first-half 2024 financial report shows that sales in diabetes and obesity treatment grew by 26% to DKK 125 billion (Danish kroner), driven primarily by growth in the GLP-1 diabetes treatment segment (up 32% in DKK) and the obesity treatment segment (up 37% to DKK 24.9 billion). For full-year 2024, the company forecasts sales growth of 22–28% and operating profit growth of 20–28%. ▲ Novo Nordisk Global Financial Results, H1 2024 Six years ago, Novo Nordisk China was still a 'single-category champion' focused predominantly on diabetes. Six years later, under Xiaping Zhou’s leadership of Greater China, the company has expanded its R&D pipeline across multiple therapeutic areas—including diabetes, obesity, rare diseases, cardiovascular disease, and emerging therapies—leading breakthrough innovations. This multi-disease expansion represents the most significant shift in product pipeline and business strategy over her six-year tenure. Shortly after joining Novo Nordisk in 2018, Zhou and her Greater China management team formulated a medium- to long-term strategy. Since its launch, Novo Nordisk Greater China has accelerated its development. In 2023, the company unveiled its long-term 'Win+2030' strategy. On the theme of 'change and continuity,' Zhou first highlighted what remains unchanged: Founded 101 years ago, Novo Nordisk has remained steadfastly committed to conquering diabetes through innovation—and has since broadened its focus to other serious chronic conditions, including obesity and hemophilia. It is an exceptionally focused company. Regardless of how much changes, three things remain constant at Novo Nordisk—past, present, and future: its patient-centric mission; its corporate culture, 'The Novo Nordisk Way'; and its commitment to sustainable development guided by the 'triple bottom line' principle—conducting business responsibly toward financial, social, and environmental outcomes. These are the unchanging pillars. What *has* changed falls into two main areas: 'First, rapid business growth. From 2019 to 2021, Novo Nordisk Greater China achieved double-digit annual growth for three consecutive years. In 2022, our business was impacted by insulin volume-based procurement policies. Yet in 2023, we returned to double-digit growth, powered by innovative medicines. And in the first half of 2024, our financial results continued to reflect double-digit growth.' The second area is accelerated innovation: faster introduction of innovative medicines and novel injection devices into China—and entry into new therapeutic areas, notably obesity treatment. From 2018 to today, a total of 14 innovative products have been approved and launched in China, nine of which are innovative medicines.

You cannot see it, yet you deeply identify with it—that is corporate culture.

HRise: I noticed on Novo Nordisk’s official website a section titled 'The Novo Nordisk Way'—is that its corporate culture? Wang Shuhong: Yes. Novo Nordisk’s culture is profoundly rooted. 'The Novo Nordisk Way' articulates who we are, what our purpose is, and the distinctive values that define our company—it mirrors a classic philosophical question we often explore: Who am I? Where do I come from? Where am I going? HRise: Can you share a story illustrating how deeply this culture resonates with every employee? Wang Shuhong: Indeed, many employees choose to stay with the company for extended periods—and a key reason is precisely this culture. Some colleagues even leave for a while and then return. They say: 'After comparing several companies, we realized what truly makes Novo Nordisk special…' So we say: Culture is like air and water. As a fish, you may not consciously feel the water—until you’re out of it, and only then do you realize you simply cannot live without it. HRise: From the perspectives of employee mobility and diversity, would you consider such a culture a 'good' one? Wang Shuhong: It’s not appropriate to label it simply as 'good' or 'bad.' Think of the company’s founder as a river whose ultimate destination is the ocean. Along the way, it encounters rapids, treacherous shoals, hidden rocks—and must constantly adapt, adjust, or navigate around these challenges. Yet its final goal never changes: to reach the ocean. Corporate culture is like each drop of water in that river—ever-present, continuously reminding us where we come from and where we’re headed. HRise: Novo Nordisk officially entered China in 1994. Over these more than two decades, has its culture undergone any changes or adaptations? Wang Shuhong: In 2011, our CEO traveled to over a dozen countries worldwide to conduct interviews with frontline employees—seeking firsthand insight into, and a visceral sense of, the global consistency of Novo Nordisk’s culture. He was delighted to find that employees across the globe shared identical perceptions of the culture—even though local cultural influences inevitably shape expression in different regions. Moreover, as economic and market environments evolve, the culture naturally adapts or undergoes subtle refinements. For instance, in today’s VUCA era—characterized by volatility, uncertainty, complexity, and ambiguity—the organization needs greater agility, and Novo Nordisk proactively evolves its practices accordingly. Yet its core cultural DNA remains immutable—for example, its patient-centric ethos, a foundational principle since the company’s inception. HRise: Many Chinese enterprises are now expanding overseas. As a global company, what traits should corporate culture possess? Wang Shuhong: I believe it must embody diversity and inclusivity. Nationalities, customs, and beliefs differ across countries; thus, a multinational enterprise must strike a delicate balance—honoring its distinct foreign identity while simultaneously adapting to and embracing local cultures. Talent determines how fast you go; culture determines how far you go. HRise: Many people believe corporate culture originates from the founder’s personal culture—the 'genes' being passed down from the company’s founder or core executives. What’s your view? Wang Shuhong: I strongly agree. A company’s initial culture indeed stems from the founder’s charisma—or, as we commonly say, their worldview, outlook on life, and values. However, after a period of development—such as becoming a publicly listed company or transitioning through multiple generations of leadership—the culture gradually evolves beyond the founder’s influence. It matures into a heritage culture: one that is inheritable, sustainable, and enriched with diverse elements over time.

Novo CEO Urges Staff to Embrace Customer-Focused Culture

6 days ago

Novo Nordisk CEO Mike Doustdar unveiled "The Novo Way" cultural strategy to regain market leadership against rival Eli Lilly in the obesity drug sector. The initiative emphasizes customer obsession as investors question the company's momentum following Wegovy's initial success.

reuters

2026-09-15

Novo CEO Urges Staff to Embrace Customer-Focused Culture

Novo CEO Urges Staff to Embrace Customer-Focused Culture

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