Drug firm Novo Nordisk, manufacturer of hit weight-loss medicine Wegovy, claims its chief executive officer is tipping down
FRANKFURT, Germany– Drug firm Novo Nordisk A/S, manufacturer of hit weight-loss medicine Wegovy, stated Friday its chief executive officer was tipping down by “common contract” with the firm’s board of supervisors, mentioning “current market difficulties” and a high decrease in the firm’s share cost.
Lars Fruergaard Jorgensen’s separation comes a week after the firm reduced its sales and revenues projection, and adheres to a greater than 50% decrease in the firm’s shares considering that mid-2024.
The firm stated Might 7 that Wegovy sales in the united state had actually been damaged by less costly reproduction medications created by supposed worsening drug stores making use of energetic components of trademarked medications in situation of scarcity. The Fda, the united state medicine regulatory authority, has actually stated nevertheless that the lacks have actually reduced and the reproductions will certainly need to discontinue in the coming months.
On Sunday a research study was released in the New England Journal of Medication revealing individuals shed extra weight making use of rival medicine Zepbound, made by Eli Lilly of Indianapolis. The research, the initial head-to-head contrast of both, was moneyed by Lilly. Novo Nordisk’s share cost is down 54% from its optimal in June 2024. Its U.S.-listed shares dropped one more 3% in premarket trading Friday.
The firm, headquartered in Bagsvaerd, Denmark, applauded a “considerable development trip and change” led by Jorgensen throughout his 8 years as chief executive officer.
” The modifications are, nevertheless, made taking into account the current market difficulties Novo Nordisk has actually been dealing with, and the advancement of the firm’s share cost considering that mid-2024,” the firm stated in a declaration. The board and Jorgensen “have actually collectively wrapped up that launching a chief executive officer sequence remains in the most effective passion of the firm and its investors.”
Jorgensen will certainly proceed as chief executive officer “for a duration” to sustain a smooth change.
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