NOVO NORDISK LIMITED
Company number: 01118740
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
30 January 2025
Approved by:
Nick Bailey
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 64%
- in 31 to 60 days: 31%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 10%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Standard terms range from immediate payment on receipt of invoices to 60 days on receipt of invoices
Were there any changes to the standard payment terms in the reporting period?
We have reduced our standard payment terms to 60 days as we had two suppliers that had standard payment terms of 90 days that we have not used since 2023. All other suppliers are within our standard payment terms stated above of 60 days
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers can get in touch with Novo Nordisk Limited's Accounts Payable department for any invoice or payment queries via email. Disputes are managed directly with the supplier and resolved items are reprocessed. Novo Nordisk Limited is supported by a Global Business Service Centre Accounts Payable team who support suppliers with their queries.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No