Novo Nordisk announced the departure of its CEO, Lars Fruergaard Jorgensen, who has been with the company since 1991 and has served as CEO since 2017. His tenure has seen a substantial increase in the company's value, largely due to the success of its weight-loss drug, Ozempic, and its diabetes medications. However, recent declines in share prices attributed to rising competition from other pharmaceutical companies, particularly Eli Lilly, and the emergence of cheaper alternatives have prompted the leadership change, with Jorgensen remaining temporarily to ensure a smooth transition.
Novo Nordiskâs value has quintupled since 2017, but the company faces market challenges with declining share prices amid increased competition and affordable alternatives.
Lars Fruergaard Jorgensen has been pivotal in leading Novo Nordisk through a significant growth phase, particularly with the successful launch of semaglutide for weight management.
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