A few days ago, Novo Nordisk cut off its sales and profits for the first time since the launch of Wegov is four years ago.
Wegovy-Maker Novo Nordisk has prompted Executive Director of Ers Fruegaard Jorgensen because of the concerns that the company is losing the first engine feature in the drug market with competitive obesity.
Novo Nordick announced the decision on Friday.
A few days ago, Novo Nordisk reduced its sales and profits for the first time since the launch of Wegov is four years ago, although Jorgensen expected a return to growth in its largest market in the second half of this year.
The President of the Novo, Helge Lund, tried to reassure analysts and investors to invite that the company’s strategy was sound and that its implementation plan had not changed.
He told Reuters that the discussions were replaced by Georgessen in the past few weeks. Novo said earlier that Georgessen would remain in his role until a successor was found.
Under the leadership of JorgenSen, Novo Nordisk has become a world leader in the drug market for weight loss, with high sales of Wegovy and OzemPic treatments.
Analysts and investors were not convinced of the need to replace it.
“He was leading the company for eight years and, in my opinion, was very successful,” Lucas Liu, a portfolio manager in the Bulves of Assets, told Reuters.
Danky Karsten Lunburg Madsen analyst had similarly signed.
He said: “The way we know Novo Nordsek is that you usually have patience when you are on the right track, then let things move in the right direction as soon as you get the strategy correctly.”
He said in the call: “It seems that something happened wrongly here,” he said in the call.
Novo’s shares have decreased since it set a record in June last year, as the competition, especially from its American rival Eli Lily, is working on its way to its share in the market and with the new pipeline pipeline failed to persuade investors.
“The changes are made in light of the recent market challenges facing Novo Nordisk, and the development of the company’s share price since mid -2014,” Novo said in its statement.
The shares below
The 58 -year -old Urgensen has been the CEO since 2017.
Wegovy’s prosperous sales helped make Novo the most valuable company in Europe, at a value of $ 615 billion at its peak in June last year, but its market value decreased to about 310 billion dollars.
The price of the Novo Nordisk shares decreased on the news, trading by 0.8 percent by 14:01 GMT after its 4 percent increase in the day.
The shares decreased by 32 percent on an annual basis and 59 percent of their highest level ever.
Eli Lily has seen our recipes for the Zepbound shot that has passed and wrapped up since mid -March in her largest market. Elie Lily’s shares increased by 2.6 percent after the news.
Camilla Silvest, head of Novo’s commercial strategy and corporate affairs and a fixed presence alongside the CEO of Jorgensen, last month without indicating a reason.
Novo said that the former CEO of Novo Nordisk for 16 years and the current president of the Novo Nordsk Foundation, Lars Riban Surinsen, will join the Board of Directors as an observer with an immediate impact with the aim of occupying a seat at the next year meeting.
The company is controlled by Novo Nordisk through its investment arm, which has 77 percent of the voting shares.
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