{"id":43346,"date":"2025-09-10T11:36:57","date_gmt":"2025-09-10T11:36:57","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2025\/09\/10\/novo-nordisk-cuts-9k-jobs-to-save-1-26b-amid-wegovy-growth-eli-lilly-rivalry\/"},"modified":"2025-09-10T11:36:57","modified_gmt":"2025-09-10T11:36:57","slug":"novo-nordisk-cuts-9k-jobs-to-save-1-26b-amid-wegovy-growth-eli-lilly-rivalry","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2025\/09\/10\/novo-nordisk-cuts-9k-jobs-to-save-1-26b-amid-wegovy-growth-eli-lilly-rivalry\/","title":{"rendered":"Novo Nordisk cuts 9K jobs to save $1.26B amid Wegovy growth, Eli Lilly rivalry"},"content":{"rendered":"
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Novo Nordisk, the Danish pharmaceutical giant behind the obesity drug Wegovy, said on Wednesday it will cut about 9,000 jobs globally in a major restructuring effort, aiming to save 8 billion Danish crowns ($1.26 billion) annually. <\/p>\n

The move underscores the growing pressure the company faces from its US rival Eli Lilly<\/a> as the weight-loss drug market becomes increasingly crowded and competitive.<\/p>\n

The company, which currently employs 78,400 people worldwide, said approximately 5,000 of the planned job reductions will be in Denmark. <\/p>\n

“Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must evolve as well,” newly appointed CEO Mike Doustdar said in the statement.<\/p>\n

“This means instilling an increased performance-based culture, deploying our resources ever more effectively, and prioritising investment where it will have the most impact \u2013 behind our leading therapy areas,” he added.<\/p>\n

Costs and financial impact<\/h2>\n

Novo said restructuring costs of about 9 billion Danish crowns will be incurred in the third quarter of 2025. However, it also expects 1 billion crowns of savings in the fourth quarter, it said.<\/p>\n

It also warned that the overhaul would carry a one-off negative impact of around six percentage points on its full-year operating profit growth at constant exchange rates next year.<\/p>\n

Novo said its operating profit growth this year is now expected at between 4% and 10%, down from between 10% and 16% seen last month, changing solely due to the restructuring costs.<\/p>\n

It also projected depreciation, amortisation, and impairment losses of 21 billion crowns, higher than its earlier estimate of 17 billion crowns.<\/p>\n

Growth slowdown weighs on shares<\/h2>\n

Novo Nordisk, once Europe\u2019s most valuable listed company with a market value of $650 billion in 2023, has seen its growth slow significantly. <\/p>\n

Last month, the company warned that revenues would fall well short of earlier forecasts, citing competition from Eli Lilly\u2019s Mounjaro and Zepbound, as well as the rise of cheaper copycat versions of its drugs.<\/p>\n

The company\u2019s Copenhagen-listed shares are down nearly 47% so far this year, reflecting investor concerns over the competitive landscape and Novo\u2019s ability to maintain its dominance in the GLP-1 drug segment.<\/p>\n

Doustdar’s leadership began on August 7, 2025, following the exit of Lars Fruergaard J\u00f8rgensen<\/a>. <\/p>\n

However, the timing of his appointment coincided with a sharp cut to Novo\u2019s sales forecast which has also sent investor confidence tumbling.<\/p>\n

Adding to the pressure, Denmark\u2019s government recently lowered its 2025 economic growth forecast<\/a> to 1.4% from 3%, citing weaker prospects for Novo Nordisk<\/a> and new US tariffs on Danish exports.<\/p>\n

For a company that once outpaced the size of Denmark\u2019s economy, Novo\u2019s latest restructuring marks a critical juncture in its bid to defend market share and restore growth momentum.<\/p>\n

The post Novo Nordisk cuts 9K jobs to save $1.26B amid Wegovy growth, Eli Lilly rivalry<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Novo Nordisk, the Danish pharmaceutical giant behind the obesity drug Wegovy, said on Wednesday it will cut about 9,000 jobs globally in a major restructuring effort, aiming to save 8 billion Danish crowns ($1.26 billion) annually. The move underscores the growing pressure the company faces from its US rival Eli Lilly as the weight-loss drug <\/p>\n","protected":false},"author":1,"featured_media":43347,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-43346","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"_links":{"self":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/43346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/comments?post=43346"}],"version-history":[{"count":0,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/43346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media\/43347"}],"wp:attachment":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media?parent=43346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/categories?post=43346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/tags?post=43346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}