Novo Nordisk CEO to step down as competition weighs on share price
Novo Nordisk CEO Lars Jorgensen testifies before a Senate Health, Education, Labor, and Pensions Committee hearing on U.S. prices for the weight loss drugs Ozempic and Wegovy, on Capitol Hill in Washington, U.S., September 24, 2024.
Piroschka Van De Wouw | Reuters
Novo Nordisk said Friday that CEO Lars Fruergaard Jørgensen is stepping down as the Wegovy-maker seeks to revive its ailing fortunes amid increasing competition.
The Danish pharmaceutical giant said Jørgensen would remain in his post “for a period to support a smooth transition to new leadership.” It added that the search for a replacement was ongoing and an announcement would be made in due course.
Novo Nordisk shares were last trading 3% lower. Meanwhile, shares of rival…
