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lite.cnn.com - on gopher - inofficial
ARTICLE VIEW:
Wegovy and Ozempic maker to cut 9,000 jobs amid stiff competition from
Eli Lilly
By Ana Nicolaci da Costa, CNN
Updated:
9:09 AM EDT, Wed September 10, 2025
Source: CNN
Novo Nordisk, the maker of weight loss drug Wegovy, will lay off about
9,000 people as it grapples with rising competition in the obesity
market.
The Danish company has been battling it out with US rival Eli Lilly,
with each developing newer medicines to turbocharge weight loss and
diabetes results since the approval of Nordisk’s Ozempic in 2017.
The job cuts announced by Novo Nordisk Wednesday amount to more than
11% of its global workforce.
“Our markets are evolving, particularly in obesity, as it has become
more competitive and consumer-driven,” Mike Doustdar, president and
CEO, said in a .
The company expects the layoffs to deliver annualized savings of around
$1.25 billion by the end of 2026, which will be redirected to “growth
opportunities” in diabetes and obesity, including research and
development, it said in the statement.
In a sign of rising competition in the United States – by far the
largest market for Novo Nordisk – Eli Lilly said last month that it
would of its rival weight loss drug Mounjaro in the United Kingdom as
it tries to bring down prices in the US, after weeks of pressure from
the Trump administration.
“Lilly supports… the objective of more fairly sharing the costs of
breakthrough medical research across developed countries,” the
company said in a , adding that the prices paid by governments and
health systems will need to increase in other developed markets, such
as Europe, in order to make them lower in the US.
Novo Nordisk stock () was up 2.5% on the day in afternoon trading in
Copenhagen, paring earlier gains.
“Following a period of hyper-growth in employee numbers, Novo is
resizing headcount with the aim to reduce complexity in the
organization,” analysts at Swiss bank UBS said in a note. “The key
question is when could the topline see the benefit of the
reinvestment… We expect that investors will remain somewhat skeptical
until the growth plan is outlined.”
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