Novo Nordisk is cutting 9,000 jobs, or 11.5% of its workforce, to streamline operations and focus on diabetes and obesity products. The move is expected to save $1.25 billion by 2022, but may impact operating profit growth. Shares rose 2% despite a 33% decline this year due to competition.

Read more at Yahoo Finance: Novo Nordisk Cuts Around 9,000 Jobs as Weight-Loss Drugmaker Faces Growing Competition