R&D expense · 2015–2025
Novo Nordisk A S R&D expense
$7.9B+13.0% · FY2025
Novo Nordisk A S (NVO) reported $7.9B in R&D expense for fiscal 2025, +13.0% year on year.
| Fiscal year | R&D expense | Change | Filing |
|---|---|---|---|
| FY20252025-12-31 | $7.9B | +13.0% | Open → |
| FY20242024-12-31 | $7.0B | +48.1% | Open → |
| FY20232023-12-31 | $4.7B | +38.3% | Open → |
| FY20222022-12-31 | $3.4B | +20.4% | Open → |
| FY20212021-12-31 | $2.8B | +19.3% | Open → |
| FY20202020-12-31 | $2.4B | +11.1% | Open → |
| FY20192019-12-31 | $2.1B | −9.1% | Open → |
| FY20182018-12-31 | $2.3B | +10.2% | Open → |
| FY20172017-12-31 | $2.1B | −1.7% | Open → |
| FY20162016-12-31 | $2.2B | +7.0% | Open → |
| FY20152015-12-31 | $2.0B | — | Open → |
R&D expense — Research and development expense is what the company charged to R&D in the income statement for the year. Most companies report no R&D at all — the line is absent rather than zero — so this ranking covers the roughly 40% of filers that do.
Every row links to its own SEC filing · Fiscal year 2025 · Data as of September 25, 2026 · 2015–2025 compound annual growth +14.6%
Figures are reported under IFRS in DKK and converted to US dollars at ECB reference rates — fiscal 2025 average 6.605 DKK/$ for income items, year-end 6.357 DKK/$ for balance-sheet items.
R&D expense at companies of similar size
Cite this page
Ready-made references for the figures on this page, as published on September 25, 2026.
Wikipedia
{{cite web |title=Novo Nordisk A S R&D expense |url=https://companiesranked.com/en/company/novo-nordisk-a-s/research-and-development-expense |website=CompaniesRanked |date=2026-09-25 |language=en}}APA 7
CompaniesRanked. (September 25, 2026). Novo Nordisk A S R&D expense. CompaniesRanked. https://companiesranked.com/en/company/novo-nordisk-a-s/research-and-development-expenseBibTeX
@misc{companiesranked-en-company-novo-nordisk-a-s-research-and-development-expense-2026,
author = {{CompaniesRanked}},
title = {{Novo Nordisk A S R\&D expense}},
year = {2026},
howpublished = {\url{https://companiesranked.com/en/company/novo-nordisk-a-s/research-and-development-expense}},
note = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
urldate = {2026-09-25}
}The filing itself
The numbers above are read from this document: 20-F · 0000353278-26-000012 · February 4, 2026
{{cite web |title=Novo Nordisk A S R&D expense — 20-F (0000353278-26-000012) |url=https://www.sec.gov/Archives/edgar/data/353278/000035327826000012/nvo-20251231.htm |website=SEC EDGAR |publisher=U.S. Securities and Exchange Commission |date=2026-02-04}}The figures are rebuilt with every data refresh, so the reference carries the publication date. Add your own access date if your style requires one.