Quick Answer
NOVO NORDISK A S reported R&D Expense of $52.04 billion for fiscal year 2025.
NOVO NORDISK A S R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $52.04B | +8.3% |
| 2024 | $48.06B | +48.1% |
| 2023 | $32.44B | +34.9% |
| 2022 | $24.05B | +35.3% |
| 2021 | $17.77B | +14.9% |
| 2020 | $15.46B | +8.7% |
| 2019 | $14.22B | — |
- NOVO NORDISK A S showed an increase of +8.3% in R&D Expense compared to the prior fiscal year.
- Over the 2019–2025 period, NOVO NORDISK A S’s r&d expense has grown by 266.0% (from $14.22 billion to $52.04 billion).
- The most recent figure is from NOVO NORDISK A S’s fiscal year 2025 report (Form 20-F), filed with the SEC on February 4, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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