Novo Nordisk CEO Faces Turnaround Pressure Amid Board Overhaul, Pfizer Rivalry

Novo Nordisk is undergoing a critical leadership and strategic overhaul as its new CEO, Mike Doustdar, faces significant pressure to revive the company's fortunes amid a 50% stock decline in 2025. The Danish pharmaceutical giant, once Europe's most valuable listed firm due to its obesity drug Wegovy, is contending with intensifying competition from U.S. rivals Eli Lilly and Pfizer, especially in the obesity drug market which shows signs of cooling. The company has announced a major restructuring plan including 9,000 job cuts and has already cut its sales growth guidance three times this year, with analysts highlighting the risk of heavy dependence on semaglutide, which underpins about 60% of future revenue. A recent $9 billion bid to outbid Pfizer for U.S. biotech Metsera has sparked a legal battle and added uncertainty to Novo's strategic direction. The Novo Nordisk Foundation has taken tighter control of the company, prompting a boardroom shakeup with the outgoing chair and all six independent directors set to depart, and former CEO Lars Rebien Sørensen expected to become chairman. Investors and analysts are closely watching Doustdar's upcoming earnings release and his plans for turnaround, deal-making, and navigating the challenges of a slowing U.S. obesity drug market and increased competition.