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A view of the logo of Novo Nordisk at the company’s office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, March 8, 2024.  Tom Little | Reuters Novo Nordisk is banking on fresh leadership to help it reclaim the crown in the booming weight loss drug market. The Danish drugmaker on Friday abruptly announced that longtime CEO Lars Fruergaard Jorgensen is stepping down, as its obesity injection Wegovy loses ground to Eli Lilly‘s rival treatment, Zepbound. While Eli Lilly entered the market later, it is emerging as the frontrunner in a space that some analysts believe could be worth more than $150 billion by the early 2030s.  Novo Nordisk’s new top executive will need to help the company close the gap with Eli Lilly, fend off emerging rivals and navigate other challenges. The next CEO will have to spearhead the company’s plans to launch a new slate of weight loss drugs before key patents for Wegovy expire, and manage the impact of Medicare drug price negotiations and President Donald Trump’s planned tariffs on pharmaceuticals.  It’s unclear who will take Jorgensen’s place, but the company said it is considering both internal and external candidates.  “While Novo [Nordisk] took a commanding early lead in the obesity duopoly, they have ceded ground at a critical moment when more competitors are quickly approaching,” BMO Capital Markets analyst Evan Seigerman said in a note on Friday, referring to other drugmakers racing to market their own obesity treatments.  Novo Nordisk once held the title of Europe’s most valuable company – worth $615 billion at its peak – driven by skyrocketing demand for Wegovy and its diabetes counterpart, Ozempic. Stock Chart IconStock chart icon Novo Nordisk shares have plunged in the last year as Eli Lilly gains ground on its rival. But investor enthusiasm has faded after…

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Filed under: News - @ May 19, 2025 5:28 pm