As bilateral aid budgets tighten and humanitarian needs grow more complex, philanthropic players are being pushed to rethink not just what they fund, but how. For the Novo Nordisk Foundation, one of the world’s largest philanthropic foundations, that rethink has led to a new development and humanitarian strategy — one that aims to blend long-term systems building with rapid response, and research excellence with on-the-ground implementation.
Speaking at Devex’s first Pro Funding Briefing of 2026, Rikke Johannessen, director of global development at the Novo Nordisk Foundation, described an organization that is both deeply rooted in scientific research and still relatively new to the international development arena. The 100-year-old foundation, she said, is “still a new kid on the block” when it comes to global development and humanitarian action.
The Novo Nordisk Foundation has an annual budget of around 10 billion Danish kroner, or $1.4 billion, and is best known for its role in advancing life science research, particularly in the Nordic region. Its philanthropic work is financed through returns from Novo Holdings, which manages the foundation’s controlling stake in the pharmaceutical company Novo Nordisk, as well as a diversified portfolio of other investments.