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Friday, June 24, 2011

Lars Rebien Sorensen

President and CEO Novo Nordisk A/S
What makes France an attractive place to invest in?
France offers a workforce that’s capable of manufacturing products of the highest quality. It’s given us total confidence that we can implement a large-scale project without jeopardizing our supply chain.
 
The French have responded brilliantly to our way of doing things. We have been very impressed by the quality of the labor force that we’ve recruited in France and by the relationships we’ve established with the local authorities. In addition, in the field of research and innovation, and compared with other countries, French businesses are well in line with the average with a good standing in terms of non-technological innovations.
How many business units do you have in France and what activities are they engaged in?
We consider ourselves fortunate to have a base in France, which is a hub for all of Europe. The French subsidiary was created in 1959 in Paris La Défense and employs 340 people. The manufacturing plant in Chartres created in 1961 employs 680 people: it is one of the five main employers in the city of Chartres.
 
Production includes formulation, filling and packaging of insulin products based on insulin crystals produced by Novo Nordisk in Denmark. The plant will be redesigned to increase the production capacity of insulin doses and also to increase production volumes of the Novo Nordisk FlexPen®. The Flexpen® is the most advanced injection device prefilled with insulin and will make life easier for millions of people with diabetes. It’s a product that’s crucial to our global success. So we needed to be absolutely sure that when we expanded our production lines, we could make it work.
How does being in France help your business?

At Novo Nordisk, we believe in respecting the individual. When people know that they’re being respected and that their input is valued, then they want to work for the company. Personally, I’ve been struck by the initiative of local government here. For the FlexPen®, it was our French unit which came up with the winning proposal by working out a collaborative venture, with local government providing tax incentives and putting a curriculum together in local technical schools that will ensure we get the qualified personnel we need to operate the plant. We couldn’t have done it without them. They’re definitely pro-business.

How would you sum up the experience of investing in France?
Our customers, the people with diabetes, depend on the insulin we produce. We can’t afford to make mistakes. In France, we can rely on stable production and products of the highest quality. This is the reason why we consider the manufacturing plant in Chartres to be a real production hub. Seventy percent of the output from our Chartres plant is exported to the European market. Regarding investment aspects, France is very attractive because it is a leading country for technology, with technical skills and effective education and efficient healthcare systems.
What changes have you noticed in France?

Personally, I think that thanks to the research tax credit reform in 2008, France is one of the countries that offers the most generous tax treatment of research and development.

Have any recent changes to regulations in France made it easier for Novo to do business here? 

France has radically altered its legislative and regulatory framework, introducing new flexibility into the labor market with, for example, tax exemption of overtime hours and procedures to terminate employment contracts.

Is France a more attractive place to invest today than it was before?

For us, it’s one of the markets that matters the most. The attractiveness of the French economy has always been a strategic reason to invest in France.

Is France business-friendly?

France has very high standards of healthcare. It’s one of the few European countries with a strong local pharmaceutical industry and it’s also got a strong tradition in biotechnology. For us and from a Danish perspective, France appeared like an attractive investment location in Europe, thanks to its quality of life, the excellent infrastructure and the highly qualified workforce. There’s no doubt that France is business-friendly, in addition to having the skills in pharmaceutical manufacturing that are essential for the job we do. Personally, I think that the French are among the most inventive people in the world. 

To what extent is France a good place for R&D?

Our company constantly strives to improve the lives of people with diabetes by finding better methods of diabetes treatment and prevention. For us, France is a really good place for R&D. The potential for research and development appears to be high.

Are there any fields in which you believe France is a world leader?

France has always played a leading role as far as international investment is concerned. Just look at medicine, the car industry, aviation, space and telecommunications...

What will Novo France’s strategic direction be in the next two years? What activities does it intend to expand in this time?

Whatever we do in the future, it’s important that we continue to invest. In 2012, we will be investing €10 million in more land and a training center at our Chartres production facility.

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