Spotting big picture themes is usually a good route to investment success. Unfortunately one growth theme in the healthcare world today is the rise and rise of those impacted by diabetes. The world’s most successful diabetes treatment company – as shown in the graphic above – today is Novo Nordisk which is quoted both in its domestic Danish market as well as in US ADR form. Contained within their recent presentation document was the shocking observation that ‘the number of people with diabetes is expected to increase by 48% in 2045’ to 629 million, driven by bad diet and heightened obesity levels. Just as shocking is that only 50% of current diabetes sufferers have been diagnosed and only 50% of them have access to care. With the best range of treatments across all diabetes types there are plenty of new potential clients for Novo Nordisk to help. Of course, such a backdrop attracts a level of corporate competition but the Company’s pipeline of enhanced treatments will keep them as the top global market player for some time. Certainly they continue to take market share off well-known UK names such as GlaxoSmithKline (GSK) andAstraZeneca (AZN) among others. This is aided by the majority ownership of the company by the longer-term oriented Novo Foundation who have proved masterly, over time, in developing healthcare and medical companies. I also note a near debt free balance sheet and good cash flow generation, which is increasingly returned in dividend payments to investors.