Novo Nordisk A/S divests the enzyme part of the business into a separate company, Novozymes A/S, with Novo Nordisk A/S continuing the pharmaceutical part of the business. The Novo Nordisk Foundation has a controlling interest in both companies.
Ulrik V. Lassen retires as Director of the Novo Nordisk Foundation and is succeeded by Professor Gert Almind (pictured).
The Committee on Humanities Research (established in 1980) is renamed the Committee on Art History Research. The original Committee awarded grants for classical archaeology and art history research, but the Foundation now decides to give priority to supporting art history research. Mikkel Bogh chairs the committee.
Vagn Andersen retires as Chair of the Board of the Novo Nordisk Foundation on 31 December 1999 and is succeeded by Palle Marcus, CEO of Danisco.