The CEO of Novo Nordisk, Lars Jorgesen, testifies before an audience of the Health, Education, Labor and Pensions of the Senate on the prices of the US.
Piroschka Van de Wouw | Reuters
Novo Nordisk On Friday he said that the CEO Lars Fruerdaard Jørgensen renounces as the WOGOVY servant seeks to revive his sick fortunes amid a growing competition.
The Danish pharmaceutical giant said Jørgensen, who was in front for eight years, He would remain in his position “for a period to support a transition without problems to a new leadership.” He added that the search for a successor was ongoing and an announcement would be done in due time.
Novo Nordisk’s shares closed 1.8% the lowest Friday. Meanwhile, the actions of rival Obesity Drug Maker Eli Lilly They were 1.7% more after the ad.
The decision occurs when the price of Novo Nordisk actions has taken a blow during the past year in the midst of greater competition in the obesity drug market in globe and the disappointing results of the trial for their next generation treatments.
The price of the company’s shares has currently dropped by more than 50% since mid -2024.
The president of the Board, Helge Lund, said the discussions to replace Jørgensen had been ongoing during the last weeks between Novo Nordisk and the Novo Nordisk Foundation, which controls the company, according to Reuters.
Reuters reported separately that Jørgensen told the Danish TV2 station that he was only recently informed and did not see the decision to come.
“Novo Nordisk’s strategy remains unchanged, and the Board trusts the company’s current business plans and its ability to execute the plans,” Lund said in a statement announcing the decision.
“However, the changes are made in the light of the recent market challenges that Novo Nordisk has been facing and the development of the company’s shares since mid -2014,” the company said in a statement.
In relation to the change, the company said that Lars Rebien Sørensen, former CEO of Novo and current president of the Novo Nordisk Foundation, will join the Novo Nordisk board, initially as an observer.
Novo last week reported that sales of the first quarter lower than the expected of its flagship of flagship obesity and cut their sales growth prognosis throughout the year in the midst of greater competition of the markets of compound medications in the United States.
“The compounds took a part of our business,” Jørgensen told Charlotte Reed from CNBC.
However, the company said it expected sales to improve in the second half of the year, since the availability of medicines composed of imitation is eliminated after the food and medicines administration ended its drug shortage failure.
Meanwhile, Novo has fought to shake the negative feeling after a series of disappointing results of the trials for its candidate for the next -generation obesity drug. Jørgensen said previously that he was “very optimistic” about the prospects of treatment.
“From the data we have, Cagrisema is the best product that has been tested or is in the market, and we believe that we can obtain those data even better.”
