The Danish pharmaceutical company Novo Nordisk announced on Friday that with the “mutual consent” its general director is giving way to the company's management board. The company referred to the “last market challenges” and a sharp decline in the company's stock course. The market value of Novo Nordisk has dropped by about half in the last year, because alternatives from competitors such as Eli Lilly are gaining popularity.
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As BBC reminds, Lars Fruergaard Jørgensen managed the company since 2017, supervising its increase to the position of the most valuable company in Europe after launching flagship drugs against obesity.
The company announced that its controlling shareholder, the Novo Nordisk Foundation, began talks about the replacement of Jørgensen in recent weeks as a result of “market challenges” and a decrease in stock price.
“Considering the last market challenges, a decrease in stock prices and the wish of the Novo Nordisk Foundationthe Management Board of Novo Nordisk and Lars Fruergaard Jørgensen jointly came to the conclusion that the start of succession as the general director is in the best interest of the company and its shareholders, “the company said in a statement that BBC quotes.
The general director of the Novo Nordisk concern was suddenly dismissed
As part of the changes, the company announced that Her former general director, Lars Rebien Sørensen, who is currently managing the Novo Nordisk Foundation, will also take over a greater role in the company's board.
Jørgensen started working at the company in 1991. In an interview with the Danish broadcaster, TV2 said that he did not expect this decision. This move also surprised many analysts. The company reported that it would announce a new leader “in a timely manner” and does not signal strategy or plans.
See also: Novo Nordisk: The drug for slimming will be sold in a different way
From 2021, the Danish drug producer has increased its sales more than twice. But the growth slows down. The company's representatives admitted that the decline in share prices lasted from mid -2024 and explained that “something went wrong.”
As CNN reminds, the company informed on May 7 that the sale of Wegova in the United States was cut by cheaper replicas of drugs produced by so -called mixed pharmacies, using active ingredients of patented medicines in the event of their deficiency.
