CEO of Novo Nordisk to step down with the investment of the stock price competition

Novo Nordsk On Friday, CEO Lars Fergard Jurgenen is stepping down as a maker seeks to revive his sick wealth amid increasing competition.

The Danish drug giant said that Juergen will remain in office “for a while to support the smooth transition to a new leadership.” He added that the search for a continuous alternative will be issued in a timely manner.

Novo Nordick shares were 3 % trading. At the same time, the drug maker contributed obesity competitor Eli Lily 1.6 % increased in pre -market trade.

The decision comes at a time when the price of the Novo Nordisk shares took the beating during the past year amid increasing competition in the advanced obesity drug market and disappointing experimental results for the following generation treatments.

The company’s share price has now decreased by more than 50 % since mid -2024.

“The Novo Nordisk strategy is still unchanged, and the board of directors is confident in the company’s current company’s plans and its ability to implement the plans,” the Chairman of the Board of Directors, Helj Lund, said in a statement.

The company said in a statement, “The changes made in light of the recent market challenges faced by Novo Nordisk, and the development of the company’s share price since mid -2014,” the company said in a statement.

Regarding the change, the company said that the president of the Novo Nordisk Foundation, Lars Riban Sorensen, will join Novo Nordick, initially as an observer.

Novo last week I mentioned less than expected Sales in the first quarter of obesity in the pioneering Wegovy drug and reduced sales growth expectations throughout the year amid the increasing competition from the complex drug markets in the United States

“The compounds have taken part of our business,” Jergensen told CNBC from Charlotte Reed.

However, the company said that it expects sales to improve in the second half of the year, as the availability of counterfeit complex drugs is being disposed of after the Food and Drug Administration (FDA) of drug deficiency.

Meanwhile, Novo struggled to get rid of negative feelings after a series of Disappointed experimental results For obesity drug candidate from the next generation. Juergencen said previously that he was “very optimistic” about the prospects for treatment.

“From our data, CAGRISEMA is the best tested product or on the market, and we think we can get this data better.”