Danish pharmaceutical firm Novo Nordisk, manufacturer of weight-loss medicine Wegovy, stated Wednesday it would certainly reduce 9,000 tasks, 5,000 of them in Denmark, in order to reinforce the firm’s concentrate on development possibilities in weight problems and diabetes mellitus medicines
FRANKFURT, Germany– Danish pharmaceutical firm Novo Nordisk, manufacturer of weight-loss medicine Wegovy, stated Wednesday it would certainly reduce 9,000 tasks, 5,000 of them in Denmark, in order to reinforce the firm’s concentrate on development possibilities in weight problems and diabetes mellitus medicines.
The restructuring, which would certainly get rid of 11% of the firm’s labor force, intended to decrease business intricacy and accelerate decision-making as the firm deals with a much more open market for weight problems medicines.
The simplifying would certainly conserve 8 billion Danish krone ($ 1.25 billion) by the end of 2026, financial savings that are to be rerouted to diabetes mellitus and weight problems, consisting of r & d, the firm stated. Novo Nordisk likewise makes Ozempic, a diabetes mellitus medicine that likewise can cause weight management.
The firm stated execution of the work cuts would certainly start instantly which it would certainly allow the influenced staff members recognize over the following couple of months relying on neighborhood labor regulations. The firm, which is based in Bagsvaerd simply outside Copenhagen, has 78,400 employees.
” Our markets are progressing, especially in weight problems, as it has actually come to be a lot more affordable and consumer-driven,” stated Head of state and chief executive officer Mike Doustdar. “Our firm should progress also. This indicates instilling a boosted performance-based society, releasing our sources ever before better, and focusing on financial investment where it will certainly have one of the most influence– behind our leading treatment locations.”
Doustdar ended up being chief executive officer in May after his precursor, Lars Fruergaard Jorgensen, left the firm after the share rate dropped and as the firm encountered competitors from weight-loss medicines from rival Eli Lilly. Shares had actually escalated after the intro of Wegovy and Ozempic, which are both based upon the very same fundamental active ingredient, semaglutide.
At the top, the firm’s market capitalization– or the mixed rate of all its shares– surpassed Denmark’s yearly gdp and made it Europe’s the majority of useful firm.
