Mei Ri Jing Ji Xin Wen·2025-10-23 16:45Core Insights - Novo Nordisk's chairman Helge Lund and six board members will collectively resign after failing to reach an agreement with the controlling shareholder, the Novo Nordisk Foundation, regarding the future composition of the board [2][3] - The company has faced significant challenges this year, including the dismissal of its CEO Lars Fruergaard Jorgensen, a hiring freeze, and plans to lay off 9,000 employees, which is approximately 11.5% of its workforce [2][4][8] - The company's stock price has dropped over 50% in the past year, with its market capitalization shrinking from over $500 billion to $237 billion, resulting in a loss of more than $27.8 billion [2][6] Company Developments - The upcoming special shareholder meeting on November 14 will propose new board members, including Lars Rebien Sørensen as chairman and Cees de Jong as vice chairman [3] - The company has been under pressure due to increased competition from Eli Lilly's tirzepatide and the impending expiration of key patents for its blockbuster drug semaglutide [6][7] - Novo Nordisk's sales of semaglutide reached 112.76 billion Danish Krone (approximately $16.63 billion) in the first half of the year, surpassing Merck's Keytruda sales [6] Market Challenges - The competitive landscape for GLP-1 drugs is intensifying, particularly in China, where local manufacturers are expected to launch generic versions of semaglutide after its patent expiration in 2026 [7] - The company has revised its 2025 sales growth forecast down from 13%-21% to 8%-14%, and operating profit growth from 16%-24% to 10%-16% [8] - Novo Nordisk aims to save 8 billion Danish Krone (approximately $1.26 billion) annually through its restructuring plan [8]