Susanne Stormer

Companies must respect their social and environmental responsibilities instead of single-mindedly running after profits, said a senior executive of a multinational company.

“You can make a profit for the shareholders in the short-term by neglecting the social and environmental responsibilities. But in the long-term, it will be in the shareholders' interests if the same importance is put on our social, environmental and financial responsibilities,” said Susanne Stormer, vice-president of Novo Nordisk's corporate sustainability.

She said her company's triple bottom line business principle always seeks to combine three considerations when taking any decision: is it financially, socially and environmentally responsible?

“This way, we continuously optimise our business performance and enhance our contribution to the societies we operate in.”

For the last 93 years, Novo Nordisk, currently the world's largest insulin manufacturer, has been doing business in a responsible and sustainable way, with a focus on improving public health, benefits patients, society and shareholders, she added.

The principle has paid off, as the company has been turning in healthy profits year after year while still respecting its social and environmental responsibilities.

Last year, it earned 88 billion Danish krone or $12.77 billion, up from 83 billion Danish krone a year ago. In fact, Novo Nordisk is the biggest exporter of Denmark, accounting for around 4 percent of the country's overall exports.

In Bangladesh, where it has operations for more than half a century, the growth is certainly in double digits, said Stormer.

She said many businesses have made very good profit in Bangladesh in an unsustainable way, capitalising on cheap labour and not ensuring the health and safety of their labour force.

Stormer also spoke of the ills of diabetes, which more often than not gets in the way of living.

“If you have diabetes you can't work and look after your family, and your family needs to take over. It is also a burden for the society because there is a cost.”

“So, it is very important for us to put an end to the diabetes pandemic because that is actually putting a brake to economic development. We are working to defeat diabetes. That is what our colleagues here are doing every day.”

In 2014, there were 5.9 million cases of diabetes in Bangladesh, with the number expected to double by 2030, according to International Diabetes Federation South-East Asia. The federation's data revealed that there were 111,371 deaths related to diabetes last year.

Only 400,000 people are taking insulin in Bangladesh. “So, there is a huge gap that needs to be addressed here,” said Stormer.

In countries lacking a cohesive healthcare delivery system, a high burden of illness such as diabetes can threaten sustainable development, according to Stormer.

In Bangladesh, diabetes is a particularly daunting challenge, as more than 12 percent of the adult population is affected by the disease. Even worse, nearly half of the population with diabetes are oblivious to their condition.

“You can't afford not to deal with it,” said Stormer, 55, adding that she is very impressed with the various initiatives taken by the Diabetic Association of Bangladesh.

Novo Nordisk too is committed to helping Bangladesh better manage the chronic ailment.

In Bangladesh, the company has a 75 percent share of the insulin market.

She said Bangladesh needs healthy population to become a middle-income country, as it has all the potential and opportunities to grow beyond 6 percent average annual economic growth.

In Bangladesh, Novo Nordisk is working with doctors, policymakers and patient organisation to defeat the silent killer.

There are strong local champions like Prof Dr Azad Khan, president of the Diabetic Association of Bangladesh, who are committed to fighting diabetes. “If we can have the political will and economic resources we will be able to properly defeat diabetes in Bangladesh,” said Stormer.

“We have to work to make policymakers aware that if diabetes is not under control it can hamper the economy.”

Stormer, who joined Novo Nordisk in 2000, said her company is also very hopeful about the oral insulin it is trying to produce.

“We are now in the second phase of its development. If we are successful, it will be a breakthrough as we know that many people have needle-phobia.”

Novo Nordisk, which employs 186 people in Bangladesh, has ranked 66th on the FORTUNE 100 Best Companies to Work For list, making it the seventh consecutive year that the Danish insulin maker has been recognised as a leading workplace.

“We strive to make an unmatched commitment to our employees, our families and our communities because driving change and improving treatment outcomes for people with diabetes starts with our people.”

Novo Nordisk founded the World Diabetes Foundation to save the lives of those affected by diabetes in developing countries and supported a UN resolution to fight the disease alongside HIV/AIDS.

Stormer said Novo Nordisk is actively working to make sure that non-communicable diseases, including diabetes, are explicitly included in the Sustainable Development Goals, as it has already been included in the draft.

“If it is specifically mentioned in the goals, it will be a responsibility for national governments to be active in the fight against diabetes.”

Now nearly 400 million people over the world are living with diabetes.

In Bangladesh, 1,800 children with diabetes are receiving free treatment and insulin from Novo Nordisk under a programme called Changing Diabetes in Children, launched in 2009 and will run for another three years. Globally, the company is helping about 10,000 children.

“If these children don't take medicines they will die. So, we have a responsibility to stand by them so they can have a life like you and me,” Stormer said.

She is very happy with the facilities of Eskayef Bangladesh, the local partner of Novo Nordisk.

“One of my colleagues recently visited the facilities to check whether everything is fine. We have a programme called Responsible Sourcing. We do regular audits so our suppliers maintain the standards we set for them. We also work with our partners to ensure that they can raise their standards.”

Owned by Transcom Group, Eskayef has been producing insulin for Novo Nordisk in Bangladesh since 2012.

Eskayef, which is among the fastest growing pharmaceutical companies in the country, is likely to get ISO 14001 and OHS 18001 certifications in the next six months or so. “That is a signal that the company has a high standard,” she said.

Novo Nordisk employs about 40,700 employees in 75 countries, and markets its products in more than 180 countries.

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