Novo Nordisk Names New CEO Amid Forecast Cuts

Novo Nordisk has appointed Maziar Mike Doustdar as its new CEO after the unexpected ousting of Lars Fruergaard Jorgensen, amid mounting business challenges. The company has cut its 2025 sales and profit forecasts for the second time this year, now expecting sales growth of 8-14% and operating profit growth of 10-16%. This revision follows weaker-than-expected U.S. sales for its weight-loss drugs Wegovy and Ozempic, as well as intensified competition from Eli Lilly’s Zepbound, which now leads Wegovy in weekly U.S. prescriptions. Novo Nordisk is also facing profitability pressures due to the spread of compounded copycat versions of its drugs in the U.S. market. Investor concerns have driven the company's shares down by up to 17% following the latest forecast cut. As CEO, Doustdar will be tasked with restoring investor confidence and steering the company through a rapidly changing competitive landscape.