Novo Nordisk Sheds 3% After Ousting CEO As Eli Lilly Rivalry Slams Stock Price
Novo Nordisk (NVO) said Friday it will replace Chief Executive Lars Fruergaard Jorgensen, citing a sharp tumble for Novo shares amid growing competition for its popular diabetes and obesity drugs Ozempic and Wegovy.
The drugmaker says Jorgensen will continue as CEO while the board searches for his replacement.
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The Weight-Loss Drug Market Is Hot. Which Medical Stock Will Win The Battle For Supremacy?
“During his weight-year tenure as CEO, Novo Nordisk’s sales, profits and share price have almost tripled,” the company said in a news release. “The changes are, however, made in light of the recent market…
