Eli Lilly vs Novo Nordisk: Founders, CEOs and History
Eli Lilly was founded in 1876 by Colonel Eli Lilly and is led by David A. Ricks. Novo Nordisk was founded in 1989 by Hans Christian Hagedorn, Harald Pedersen and is led by Maziar Mike Doustdar.
Company facts
Eli Lilly
- Founded
- 1876
- Headquarters
- Indianapolis, Indiana
- Current CEO
- David A. Ricks
- Employees
- 50,000
Novo Nordisk
- Founded
- 1989
- Headquarters
- Bagsvaerd, Denmark
- Current CEO
- Maziar Mike Doustdar
- Employees
- 66,700
Founders
Eli Lilly
Colonel Eli Lilly
Following his military service and early experiences in the apothecary trade, Lilly worked in various pharmaceutical and business ventures, eventually amassing enough capital to strike out on his own.
Novo Nordisk
Hans Christian Hagedorn
Hans Christian Hagedorn (1888-1971) was a Danish physician who co-founded Nordisk Insulinlaboratorium in 1923 with August and Marie Krogh after the Kroghs obtained rights to make insulin in Scandinavia.
Harald Pedersen
Harald Pedersen and his brother Thorvald worked at Nordisk Insulinlaboratorium before a 1924 dispute led them to set up Novo Terapeutisk Laboratorium in Copenhagen in 1925.
CEOs and their tenures
Eli Lilly
- Sidney Taurel1998–2008
Former Chair and CEO
Taurel's focus on targeted, personalized medicine anticipated the future direction of the pharmaceutical industry, shifting the company's research paradigm toward more precise and effective treatments.
Source - David A. Ricks2017–present
Chair and Chief Executive Officer
Ricks's aggressive restructuring and cultural overhaul have been widely credited with revitalizing Eli Lilly's pipeline and driving a notable period of financial growth and market capitalization expansion.
Source
Novo Nordisk
- Lars Rebien Sørensen2000–2016
Chief Executive Officer
Chief executive of Novo Nordisk A/S from 2000 to 2016.
Source - Lars Fruergaard Jørgensen2017–2025
Chief Executive Officer
CEO from January 2017 to August 2025. Oversaw the launches of Ozempic, Rybelsus and Wegovy and large capacity investments, then was replaced by the board in 2025 after share losses to Eli Lilly and a cut to guidance.
Source - Maziar Mike Doustdar2025–present
President and Chief Executive Officer
Became CEO on August 7, 2025, succeeding Lars Fruergaard Jørgensen. Joined Novo Nordisk in 1992 and previously ran International Operations, where sales more than doubled over a decade. First non-Danish CEO in the company's history.
Source - Lars Rebien Sørensen2025–present
Chair of the Board
Former CEO and chair of the Novo Nordisk Foundation who returned to lead the board and oversee the turnaround and CEO succession planning.
Source
Timeline: Eli Lilly and Novo Nordisk side by side
1876Eli Lilly
Eli Lilly Founded
Colonel Eli Lilly founds the company in Indianapolis.
1923Eli Lilly
Insulin Commercialization
Lilly helps commercialize insulin at industrial scale, shaping its long-term diabetes identity.
1923Novo Nordisk
Founding of Nordisk Insulinlaboratorium
August Krogh and Hans Christian Hagedorn founded the Nordisk Insulinlaboratorium in Copenhagen, securing the licensing rights to produce insulin for the Scandinavian countries.
1925Novo Nordisk
Founding of Novo Terapeutisk Laboratorium
Harald Pedersen and a group of Danish physicians founded Novo Terapeutisk Laboratorium to produce insulin and other biological products using industrial-scale fermentation processes.
1950Eli Lilly
Antibiotic Expansion
The company expands through antibiotics and broader prescription medicines.
1982Eli Lilly
Humulin Approved
Lilly introduces Humulin, one of the first recombinant DNA human insulin products.
1989Novo Nordisk
Merger of Novo and Nordisk
The $1.5 billion merger of Novo Industri and Nordisk Insulinlaboratorium was completed, creating Novo Nordisk A/S as one of the world's largest insulin manufacturers.
2005Novo Nordisk
Launch of Insulin detemir (Levemir)
Novo Nordisk launched Insulin detemir, a long-acting basal insulin analog with a flat action profile and reduced risk of hypoglycemia compared to NPH insulin.
2009Novo Nordisk
Launch of Victoza (liraglutide)
Novo Nordisk launched Victoza, the first once-daily GLP-1 receptor agonist, marking the company's strategic pivot from insulin to incretin-based therapies.
2017Eli Lilly
David Ricks Becomes CEO
David A. Ricks becomes Chair, President, and CEO.
2017Novo Nordisk
Launch of Ozempic (semaglutide)
Novo Nordisk launched Ozempic, a once-weekly GLP-1 receptor agonist for type 2 diabetes, which became the fastest-growing diabetes drug in history.
2021Novo Nordisk
Launch of Wegovy (semaglutide 2.4mg)
Novo Nordisk launched Wegovy, a high-dose formulation of semaglutide for chronic weight management, demonstrating an average weight loss of 14.9% in the STEP-1 trial.
2022Eli Lilly
Mounjaro Approved
Mounjaro receives U.S. approval for type 2 diabetes, beginning a major growth cycle.
2023Eli Lilly
Zepbound Approved
Zepbound receives U.S. approval for chronic weight management.
2023Novo Nordisk
SELECT Trial Results
Novo Nordisk announced the results of the SELECT trial, demonstrating a 20% reduction in major adverse cardiovascular events for semaglutide 2.4mg in non-diabetic obese patients.
2024Novo Nordisk
Catalent Acquisition
Novo Holdings completed its $16.5 billion acquisition of Catalent in December 2024, and Novo Nordisk bought three Catalent fill-finish sites in Italy, Belgium and Indiana for $11 billion to expand Wegovy and Ozempic capacity.
2024Novo Nordisk
FY2024 Financial Results
Novo Nordisk reported FY2024 net sales of ~$44.1 billion (DKK 290.4 billion), up 25% in DKK, and net profit of ~$15.4 billion (DKK 101.0 billion).
2025Eli Lilly
Revenue Reaches $65.179B
Lilly reports $65.179B in 2025 revenue and $20.640B in net income.
2025Eli Lilly
First $1 Trillion Drugmaker
Lilly's market value crosses $1 trillion on November 21, 2025, a first for a healthcare company.
2025Novo Nordisk
CEO Change and Restructuring
Mike Doustdar replaced Lars Fruergaard Jørgensen as CEO on August 7, 2025, and in September the company announced about 9,000 job cuts. Lars Rebien Sørensen later became board chair after a dispute with the Novo Nordisk Foundation over board composition.
2026Eli Lilly
Foundayo Approved
FDA approves Foundayo (orforglipron), Lilly's oral GLP-1 pill for obesity, on April 1, 2026.
2026Novo Nordisk
Wegovy Pill Launch
After FDA approval in December 2025, Novo launched the oral Wegovy pill in the US in January 2026; it passed 5 million prescriptions by August 2026 and received EU approval in July 2026.
2026Novo Nordisk
Capital Markets Day
On September 21, 2026 Novo set 2030 targets of mid-single-digit sales growth and more than five multi-blockbuster launches; the shares fell about 8%.
Acquisitions
Eli Lilly
- Morphic Holding2024$3.2B
- POINT Biopharma2023$1.4B
- Prevail Therapeutics2021$1B
- Loxo Oncology2019$8B
Novo Nordisk
- Akero Therapeutics2025$5.2B
- Three Catalent fill-finish sites2024$11B
- Dicerna Pharmaceuticals2021$3.3B
Questions about Eli Lilly vs Novo Nordisk
Who is the CEO of Eli Lilly and Company and Novo Nordisk A/S?
Eli Lilly and Company is led by David A. Ricks and Novo Nordisk A/S is led by Maziar Mike Doustdar. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Eli Lilly and Company founded vs Novo Nordisk A/S?
Eli Lilly and Company was founded in 1876 — 113 years before Novo Nordisk A/S, which was founded in 1989. Eli Lilly and Company's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Novo Nordisk A/S.
How many employees does Eli Lilly and Company have compared to Novo Nordisk A/S?
Eli Lilly and Company employs approximately 50,000 people, while Novo Nordisk A/S employs approximately 66,700. Novo Nordisk A/S has the larger workforce at 66,700 employees, compared to Eli Lilly and Company's 50,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Eli Lilly and Company and Novo Nordisk A/S headquartered?
Eli Lilly and Company is headquartered in United States and Novo Nordisk A/S is headquartered in Denmark. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Eli Lilly and Company and Novo Nordisk A/S?
Eli Lilly and Company was founded by Colonel Eli Lilly. Novo Nordisk A/S was founded by Hans Christian Hagedorn, Harald Pedersen.
Which company has a longer operating history — Eli Lilly and Company or Novo Nordisk A/S?
Eli Lilly and Company has been operating for approximately 150 years, making it the more established of the two companies. Novo Nordisk A/S has been in operation for around 37 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Eli Lilly vs Novo Nordisk overview