Novo Nordisk cuts hit production line jobs at key US plant, posts show

STORY: Novo Nordisk has laid off dozens of employees in the U.S.That's what Reuters has seen in a review of LinkedIn posts.The Wegovy-maker made the cuts at the largest U.S. manufacturing site for its popular obesity and diabetes drugs.Its a signal of where the firm is making cuts in a major restructuring under new CEO Mike Doustdar.The layoffs are a small part of a planned 9,000 job removals globally.The Danish giant wants to sharpen its focus, trim costs, and regain lost ground in competition with U.S. rival Eli Lilly.The cuts also come as President Trump's administration pressures pharmaceutical companies to expand U.S. drug production and create more domestic jobs.Novo last year became Europe's most valuable listed company on demand for weight-loss drugs.But it has since had a sharp share price slide as sales growth slowed.Its now trying to reduce costs and staff that grew as it rode the Wegovy boom.A Novo spokesperson declined a Reuters request for further details beyond last month's global layoffs announcement.

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