đź’¨ Abstract

Novo Nordisk A/S, maker of the weight loss drug Wegovy, announced that its CEO, Lars Fruergaard Jorgensen, is stepping down due to recent market challenges and a 50% decline in share price since mid-2024. This comes after the company downgraded its sales and profit forecasts, partly due to competition from cheaper replica drugs and a study showing a competitor’s drug, Zepbound, was more effective.

Courtesy: wtop.com