CEO of Novo Nordisk, maker of weight loss drug Wegovy, to step down in wake of share price drop
Danish pharmaceutical company Novo Nordisk A/S, maker of blockbuster weight loss drug Wegovy, said Friday its CEO was stepping down by “mutual agreement” with the company's board of directors, citing “recent market challenges” and a steep decline in the company's share price. Lars Fruergaard Jorgensen's departure comes a week after the company downgraded its sales and profits forecast, and follows a more than 50% decline in the company's shares since mid-2024. Shares had skyrocketed after the introduction of Wegovy and diabetes medicine Ozempic, which are both based on the same basic ingredient, semaglutide.
Associated Press Finance
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