Reported 1 day ago
Novo Nordisk announced it will cut 9,000 jobs as part of a restructuring plan to regain its market position in the competitive weight-loss drug sector, particularly against U.S. rival Eli Lilly. This move, the largest layoff in Danish history, is expected to save the company about $1.25 billion annually, following a significant decline in sales and market cap. The company aims to redirect resources towards diabetes and obesity treatments while preparing for a new pill version of its popular drug, Wegovy.
Source: YAHOO