Longtime Novo Nordisk CEO Lars Fruergaard Jørgensen is stepping down after eight years in the role, following significant market challenges and a decline in the company’s share price since mid-2024. Jørgensen will assist in the transition process as Novo Nordisk searches for a successor.
The decision comes amid increasing competition from Eli Lilly in the GLP-1 market for diabetes and obesity treatments. While Novo Nordisk was first to market with its GLP-1 drugs Ozempic and Wegovy, Lilly’s Mounjaro and Zepbound have shown strong growth, surpassing Novo’s sales momentum. Recent clinical trials also favored Lilly’s Zepbound over Novo’s Wegovy.
Despite these challenges, Novo Nordisk’s guidance for 2025 remains unchanged. The board cited the circumstances as necessitating an immediate leadership change, though succession planning remains ongoing. Former CEO Lars Rebien Sørensen will rejoin the board as an observer, potentially becoming a permanent member next year.
Jørgensen joined Novo Nordisk in 1991 and held various leadership roles before becoming CEO in 2017. His tenure saw significant growth, particularly with the GLP-1 boom, but recent market pressures led to his resignation. This marks one of several high-profile departures at Novo Nordisk in recent months.
— new from Fierce Pharma
