Novo Nordisk says it cuts 9,000 workers amid the increase in the Wegov obesity competition

Danish pharmaceutical company Novo Nordisk, WEGOKASAD drugs, He said Wednesday reduces 9,000 jobs, or 11 % of the workforce, amid increasing competition for obesity medications.

The company said it would reduce about 5,000 jobs in Denmark, although it did not reveal the location of the 4000 discounts. Novo Nordisk makes OzemPic, a diabetes drug that can also lead to weight loss.

The company said that simplification would save $ 1.25 billion by the end of 2026, savings that must be re -directed to diabetes and obesity, including research and development. The company said that the cuts are necessary due to the “most dynamic obesity market and consumer”, which led to the slowest growth.

The company said that the implementation of discounts in jobs will start immediately and that it will inform the affected employees during the next few months, depending on the local work rules. The company, which is based in Bagsvaerd outside Copenhagen, has 78,400 workers.

“Our markets are developing, especially in obesity, because they have become more competitive and competing with the consumer,” said the president and CEO of CEO Mike Dosdar. “Our company must also develop. This means implanting an increasingly-based culture, spreading our resources more effectively, and giving priority to investment as it will have the greatest effect-behind our leading treatment areas.”

Novo Nordisk shares increased 58 cents, or 1.1 %, to $ 54.88 in pre -market trading.

Doustdar has become the CEO of May after his predecessor left, the company, the company after the share price decreased, and while the company faced competition from the weight loss drugs from the opponent ELI Lilly.

The shares rose after the introduction of Wegovy and OzemPIC, which are based on the same basic component, damaged.

In peak, the company’s market value – or the common price of all its shares – has exceeded the GDP of Denmark and made it the most companies in Europe.