iso4217:DKK210930842021-01-012021-12-31210930842021-01-012021-12-311210930842021-01-012021-12-312210930842021-01-012021-12-313210930842021-01-012021-12-311210930842021-01-012021-12-311210930842021-01-012021-12-312210930842020-01-012020-12-31210930842021-01-012021-12-31fsa:RetainedEarningsMember210930842020-01-012020-12-31fsa:RetainedEarningsMember210930842021-01-012021-12-31fsa:RetainedEarningsMember210930842020-01-012020-12-31fsa:RetainedEarningsMember210930842021-12-31210930842020-12-31210930842021-01-01fsa:ContributedCapitalMember210930842020-01-01fsa:ContributedCapitalMember210930842021-12-31fsa:ContributedCapitalMember210930842020-12-31fsa:ContributedCapitalMember210930842021-01-01fsa:RetainedEarningsMember210930842020-01-01fsa:RetainedEarningsMember210930842021-12-31fsa:RetainedEarningsMember210930842020-12-31fsa:RetainedEarningsMember210930842021-01-01210930842020-01-01Annual reportAuditor's report on audited financial statementsfalseReporting class BtruefalsefalseNovo Nordisk Invest 2 A/Sc/o Novo Nordisk A/S, Novo Allé 2880Bagsværd Denmark210930841998-05-01Gladsaxe2021-01-012021-12-312020-01-012020-12-312022-05-16Søren FinkKarsten Munk KnudsenLinette NielsenTomas HaagenChairmanPeter BøggildDeloitte Statsautoriseret RevisionspartnerselskabDeloitte Statsautoriseret RevisionspartnerselskabWiedekampsgade Wiedekampsgade 23002300Copenhagen SCopenhagen SDenmarkDenmark3396355633963556Novo Nordisk Invest 2 A/Sc/o Novo Nordisk A/S, Novo Allé 2880Bagsværd Denmark21093084Today, the Board of Directors and Executive Management have approved the Annual Report of Novo Nordisk Invest 2 A/S for the year 2021.<br/>The Annual Report has been prepared in accordance with the Danish Financial Statements Act.<br/>In our opinion, the Financial Statements give a true and fair view of the financial position of the company at 31 December 2021 and of the results of the company's operations for 2021 in accordance with the Danish Financial Statements Act.<br/>Further, in our opinion, the Management’s review gives a fair review of the development in the company’s operations and financial matters and the results of the company’s operations and financial position.<br/>We recommend that the Annual Report be adopted at the Annual General Meeting.Bagsværd 2022-05-16To the Shareholder of Novo Nordisk Invest 2 A/SOpinionWe have audited the financial statements of Novo Nordisk Invest 2 A/S for the financial year 1 January 2021 - 31 December 2021, which comprise an income statement, balance sheet, statement of changes in equity and notes. The financial statements are prepared in accordance with the Danish Financial Statements Act.<br/>ln our opinion, the financial statements give a true and fair view of the Company's financial position at 31 December 2021 and of the results of its operations for the financial year 1 January 2021 - 31 December 2021 in accordance with the Danish Financial Statements Act.Basis for OpinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibility under those standards and requirements are further described in the “Auditor's responsibilities for the audit of the financial statements” section of this auditor's report. We are independent of the Company in accordance with the International Ethics Standards Board of Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.<br/>ln preparing the financial statements, Management is responsible for assessing the Company's ability to continue as a going concern, for disclosing, as applicable, matters related to going concern and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to either liquidate the Company or to cease operations, or has no realistic alternative but to do so.Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.<br/>As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:<br/>•<br/>Identify and assess the risk of material misstatements in the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.<br/>•<br/>Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.<br/>•<br/>Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.<br/>•<br/>Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists relating to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Company to cease to continue as a going concern.<br/>•<br/>Evaluate the overall presentation, structure, and contents of the financial statements, including note disclosures, and whether the financial statements reflect the underlying transactions and events in a manner that gives a true and fair view.<br/>We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.Management is responsible for the management review.<br/>Our opinion on the financial statements does not cover the management review, and we do not express any form of assurance conclusion thereon.<br/>ln connection with our audit of the financial statements, our responsibility is to read the management review and, in doing so, consider whether the management review is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.<br/>Moreover, it is our responsibility to consider whether the management review provides the information requirement under the Danish Financial Statements Act.<br/>Based on the work we have performed, we conclude that the management review is in accordance with the financial statements and has been prepared in accordance with the requirements in the Danish Financial Statements Act. We did not identify any material misstatement of the management review.Copenhagen2022-05-16Sumit SudanYassir IqbalState Authorised Public AccountantState Authorised Public Accountantmne33716mne45103Main activities<br/>The company's main activities are the holding of equity investments in companies, and other investments, as well as financial activities, and – at the discretion of the Board of Directors – supporting the operations of such companies.<br/>Development during the financial year<br/>Net loss for Novo Nordisk Invest 2 A/S ended at DKK 20 thousand for the year 2021 compared with a net loss of DKK 26 thousand for the year 2020.<br/>Events after the balance sheet date<br/>No events have occurred after the end of the reporting period that materially affect the financial position of the company.Accounting basis<br/>The Annual Report of the company is prepared in accordance with the Danish Financial Statements Act for a class B enterprise as well as selected rules applying to reporting class C.<br/>The accounting policies applied remain unchanged from last year.<br/>The Annual Report is presented in DKK 1,000.<br/>Translation of foreign currencies<br/>Assets and debt in foreign currencies are translated into Danish kroner at the exchange rates at the balance sheet date. Financial statements of foreign subsidiaries are translated into Danish kroner at the exchange rates at the balance sheet date for the balance sheet items and at average exchange rates for income statement items.<br/>All exchange rate adjustments are recognised in the income statement.<br/>Administrative costs<br/>Administrative costs comprise costs for the management and administration of the company, such as costs for audit fee, management, office premises, office costs etc.<br/>Other financial assets<br/>Investments in subsidiaries are recorded under the equity method, using the respective share of the net asset values in subsidiaries. The equity method is used as a measurement basis rather than a consolidation method.<br/>The share of profit in subsidiaries is recognised in the income statement of the parent company.<br/>Net revaluation of equity investments in subsidiaries exceeding the declared dividend of the subsidiaries is transferred to equity as net revaluation reserve according to the equity method.<br/>Amounts owed by affiliated companies<br/>Receivables are stated at amortised cost less write-downs for potential losses on doubtful debts. The write-downs are based on an individual assessment of each debtor.<br/>Tax<br/>The company is jointly taxed with the Danish companies in the Novo Holdings A/S Group. The tax effect of the joint taxation with the parent company and other subsidiaries is allocated to the companies in proportion to their taxable incomes (full allocation). The current tax in the joint taxation is paid by the ultimate parent company, Novo Holdings A/S, which functions as the tax administration company. The jointly taxed Danish enterprises have adopted the on-account taxation scheme<br/>Dividends<br/>Proposed dividends (not yet declared) for the accounting period are recognised in the equity as proposed dividends.2600033000-26000-33000-6000-7000-20000-26000-20000-26000-20000-260002000200020002000107400010970006000700010800001104000108200011060001000000100000057000770001057000107700010000001000000100000010000007700010300057000770001077000110300025000290002500029000250002900010820001106000Share capital<br/>The share capital consists of 10,000 shares of nominal value DKK 100.Proposed appropriation of net profit<br/>Retained earnings<br/>(20)<br/>(26)<br/>Distribution of net profit<br/>(20)<br/>(26)Controlling interests<br/>Basis<br/>Novo Nordisk A/S, Novo Allé, 2880 Bagsværd, Denmark<br/>Principal shareholder, owns 100%<br/>Novo Holdings A/S, Tuborg Havnevej 19, 2900 Hellerup, Denmark<br/>Controls Novo Nordisk A/S<br/>Novo Nordisk Foundation, Tuborg Havnevej 19, 2900 Hellerup, Denmark<br/>Ultimate parent of the Group<br/><br/>The company is included in the consolidation financial statements of Novo Nordisk A/S and the ultimate parent company, Novo Nordisk Foundation, in which Novo Nordisk Invest 2 A/S is fully consolidated, can by ordered from Novo Nordisk A/S (CVR no. 24 25 67 90), Novo Allé, 2880 Bagsværd, Denmark, and from Novo Nordisk Foundation (CVR no. 10 58 29 89), Tuborg Havnevej 19, 2900 Hellerup, DenmarkThe company is jointly taxed with the Danish companies in the Novo Holdings A/S Group. The joint taxation also covers withholding taxes in the form of dividend tax, royalty tax and interest tax. The Danish companies are jointly and individually liable for the joint taxation. Any subsequent adjustments to income taxes and withholding taxes may lead to a larger liability. The tax for the individual companies is allocated in full on the basis of the expected taxable income.<br/>The company has no other contingent liabilities.