Wegovy Maker Novo Slims Down as It Cuts 13,000 Jobs in War of Fat Jabs
CEO Mike Doustdar said the savings will fund research and development as Novo targets at least five new blockbuster drugs by 2030.
- On Monday, CEO Mike Doustdar announced Novo cut 13,000 jobs at the Capital Markets Day in London, exceeding the 9,000 layoffs initially forecast in autumn 2025.
- Intensifying competition from Eli Lilly prompted Novo to slash costs as the obesity-drug market pressures mounted. The company maintained a workforce of 78,400 before the cuts.
- Doustdar unveiled plans to launch at least five "multi blockbuster products" by 2030, targeting combined sales of 150 billion krone by 2035 and reaching more than 60 million patients.
- Shares in Novo fell 7 per cent on Monday as investors reacted to the turnaround plans. Doustdar said the company would pursue acquisitions to address pipeline gaps, stating "where you see a gap you should probably expect us to be more active."
- Novo remains ahead of Lilly in weight-loss sales, recently unveiling CagriSema trial results showing 1mg delivered 12.4 per cent weight loss versus 9.1 per cent for Lilly's 5mg tirzepatide.
14 Articles
14 Articles
Danish pharmaceutical company Novo, a maker of weight-loss drugs, cut 13,000 jobs last year, the Financial Times (FT) reported. Prior to the cuts, Novo had 78,400 people. The cuts are due to the company's continued cost reduction amid intensifying competition. Novo has lost positions in the obesity drug market to the American pharmaceutical company Eli Lilly. Novo shares fell 7% after CEO Mike Dowstar unveiled his plans. They include a promise t…
The pharmaceutical laboratory Novo, manufacturer of the Ozempic and the Wegovy, informed on Monday (21) that it has cut 13 thousand people from its frame in the last 12 months, as part of the cost reduction efforts of the manufacturer of slimming medicines in the face of the tightening of the competition. Exclusive material for subscribers. To have full access, access the link of the material and make your registration.
berlingske.dk
In connection with a round of layoffs to cut costs, Novo has cut 13,000 positions.
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