Novo Nordisk seeks new CEO, potentially American, to navigate competitive U.S. market

From Yahoo Finance: 2025-05-16 15:49:00

Novo Nordisk, Denmark’s largest drugmaker, is searching for a new CEO to replace Lars Fruergaard Jorgensen, with analysts suggesting an American leader would be best suited to navigate the U.S. market, where Novo faces tough competition from Eli Lilly in the weight-loss drug sector. Novo’s current CEO is stepping down due to concerns about losing the company’s edge in the obesity drug market.

Novo has struggled against Lilly in the U.S., with Zepbound prescriptions outpacing Novo’s Wegovy by over 100,000 a week. Clinical trials show both drugs offer 15-20% weight loss, but a Lilly study found Zepbound more effective. Novo may benefit from an American CEO familiar with the changing pharmaceutical landscape under the Trump administration.

Novo has historically appointed Danish CEOs, but with no successor announced, the search for a new CEO remains ongoing. Analysts believe Novo should consider both internal and external candidates, given the dynamic nature of the market. The competition in the U.S. market requires a leader who can navigate regulatory changes and pricing pressures.

President Trump’s focus on boosting domestic manufacturing and lowering drug prices has put pressure on pharmaceutical companies like Novo and Lilly. Lilly’s CEO, David Ricks, has built strong connections with the Trump administration, benefiting the company. Novo’s outgoing CEO, Jorgensen, has not met with Trump but has engaged with administration officials.

Novo Nordisk and Eli Lilly face challenges in the U.S. market due to changing regulations and pricing pressures. The search for a new CEO at Novo highlights the importance of finding a leader who can navigate the complex landscape of the pharmaceutical industry, particularly in the highly competitive weight-loss drug market.



Read more at Yahoo Finance: Analysis-Novo Nordisk should look to the US for its next CEO, analysts say