Danish drug-maker Novo Nordisk introduced Friday that its CEO Lars Fruergaard Jorgensen will step down from his place because the agency’s shares noticed a fall throughout the growing competitors within the drug market.
“The changes are, however, made in light of the recent market challenges Novo Nordisk has been facing, and the development of the company’s share price since mid-2024,” the corporate mentioned in an announcement.
The firm emphasised that it has been by way of a big development journey and transformation underneath the management of Jorgensen.
“During his eight-year tenure as CEO, Novo Nordisk’s sales, profits and share price have almost tripled. Novo Nordisk has a clear strategy, a strong product portfolio and an experienced leadership team,” it famous.
Jorgensen, who joined Novo Nordisk in 1991 and has been the CEO since 2017, will stay in his function for a transitional interval whereas a search is carried out for a alternative.
Novo Nordisk has been shedding its market share in weight problems and diabetes medicine to the rivals such because the US-based Eli Lilly.
Following the news, the corporate’s shares fell greater than 3.3% on Friday as of 1145GMT.
In the final six months, its shares plummeted 40% because of the intensifying competitors.
In March, the Danish agency misplaced its title of “Europe’s most valuable firm” to the German software program big SAP because of the decline in its shares.
Source: www.anews.com.tr