Note 29 - Related party transactions


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Novozymes A/S is controlled by Novo A/S, which holds 70.1% of the votes in Novozymes A/S. The remaining stock is widely held. The ultimate parent of the Group is the Novo Nordisk Foundation (incorporated in Denmark).
Related parties are considered to be the Novo Nordisk Foundation and its subsidiaries, i.e. the Novo and Novo Nordisk Groups, and the directors of these entities, and the Board of Directors and Executive Management of Novozymes A/S, together with their immediate families. Related parties also include companies in which the above persons have significant interests.
All agreements relating to these transactions are based on the list prices used for sale to third parties where such list prices exist, or the price has been set at what is regarded as market price. The material terms of these agreements are renegotiated regularly. The Group has had the following transactions with related parties:
2009 2008
    DKK million  DKK million  
Sale of goods, materials, and services
Sale of goods and materials:
- The Novo Nordisk Group 38  35 
Sale of services:
- The Novo Nordisk Group   80  112   
Total sale of goods, materials, and services 118  147 
 

2009 2008
    DKK million  DKK million
Purchase of goods, materials, services, and assets
Purchase of goods and materials:
- Novo Nordisk A/S (79) (77)
- Minority shareholders in subsidiaries (53) (47)
Purchase of services:
- NNIT A/S (54) (67)
- Novo Nordisk A/S (55) (59)
- NNE Pharmaplan A/S (170) (81)
- Minority shareholders in subsidiaries   -  (2)
Total purchases of goods, materials, services, and assets   (411) (333)  
There have not been any material transactions with the Novo Nordisk Foundation or with Management of Novozymes A/S, Novo A/S, the Novo Nordisk Foundation, or the Novo Nordisk Group, other than normal remuneration. The remuneration of the Board of Directors and Executive Management is presented in Note 24.
 
2009 2008
    DKK million  DKK million  
Receivables:
The Novo Nordisk Group 30  30 
Minority shareholders in subsidiaries   15    -  
Receivables at December 31 45  30 
 

2009 2008
    DKK million  DKK million  
Payables:
The Novo Nordisk Group (51) (63)
Payables at December 31   (51) (63)  
 
 

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