Novo Nordisk cuts 9,000 jobs as it looks to new weight-loss drugs

STORY: :: Novo Nordisk Novo Nordisk has almost completed notifying employees impacted by the drugmaker's 9,000 job cuts.That’s according to a LinkedIn post by CEO Mike Doustdar Friday. As jobs were slashed globally, he added that the pace of informing people varied according to local laws. It’s part of Doustdar’s restructuring drive which he launched last month. And comes as Novo faces heated competition in the United States, the world's biggest drug market, against rival Eli Lilly.The $150 billion weight-loss drug market is booming and Novo’s setting its sights on newer heights. :: Pfizer The Danish pharma giant and another major rival Pfizer are in a bidding war over obesity biotech Metsera’s hottest experimental treatments. The drugmakers are vying for access to its once-monthly GLP-1 injectable.Current popular injectables, including Novo’s Wegovy and Eli Lilly’s Zepbound, are weekly shots. Metsera is one of several companies developing experimental weight-loss drugs.The move signals an aggressive turn by Novo Nordisk a week after the ousting of most of the company's board.That was over concerns it was not moving fast enough in the obesity market.

View Comments