From Yahoo Finance: 2025-05-16 07:06:00

Novo Nordisk removed CEO Lars Fruergaard Jorgensen due to concerns about losing the lead in the obesity drug market. Novo’s shares fell as competition, notably from Eli Lilly, increased. Jorgensen’s exit surprised investors, and the company reassured its strategy remains intact. Eli Lilly’s Zepbound surpassed Wegovy in U.S. prescriptions, impacting sales. Novo expects a ban on pharmacy-produced copycats to boost sales. The obesity drug market could reach $150 billion by the early 2030s. Jorgensen’s strategic shift into obesity treatments tripled sales, but his exit comes amidst industry challenges like potential U.S. tariffs. Novo’s market value halved to $310 billion, with concerns over its drug pipeline and upcoming patent expirations. Former CEO Lars Rebien Sorensen will join the board.



Read more at Yahoo Finance: Novo Nordisk ousts CEO after falling behind in weight loss market