Novo Nordisk(US:NVO) Sou Hu Cai Jing·2025-10-24 10:56Core Insights - Novo Nordisk (NVO) is undergoing significant leadership changes, with Chairman Helge Lund and six board members resigning due to disagreements with the controlling shareholder, the Novo Nordisk Foundation, regarding the future composition of the board [1][3] - The company has faced ongoing management upheaval and strategic shifts throughout the year, indicating a period of "transformation pain" for the pharmaceutical giant [3][4] Leadership Changes - The board's resignation is attributed to a lack of consensus on maintaining continuity while also introducing new members with specific capabilities, contrasting with the foundation's desire for a broader restructuring [3] - A special shareholders' meeting is scheduled for November 14 to elect new board members, with proposals to appoint Lars Rebien Sørensen as chairman and Cees de Jong as vice-chairman [3] Financial Performance and Market Challenges - Novo Nordisk's sales of the weight-loss drug semaglutide reached 112.76 billion Danish Krone (approximately $16.63 billion) in the first half of the year, surpassing Merck's Keytruda sales [7] - However, the company faces increasing competition from other GLP-1 weight-loss drugs, particularly from Eli Lilly's tirzepatide, which reported sales of $14.73 billion in the same period [7] - The company has lowered its 2025 sales growth forecast from 13%-21% to 8%-14% and operating profit growth from 16%-24% to 10%-16% [8] Restructuring and Cost-Cutting Measures - Following the appointment of new CEO Maziar Mike Doustdar, Novo Nordisk announced a global restructuring plan that includes laying off 9,000 employees, approximately 11.5% of its workforce, to streamline operations and focus on growth opportunities in diabetes and obesity [5][6] - The restructuring is expected to save the company 8 billion Danish Krone (approximately $1.26 billion) annually [5] Market Valuation and Stock Performance - Novo Nordisk's market capitalization has significantly declined, dropping from over $500 billion to $236.3 billion, resulting in a loss of approximately $278 billion (around 1.98 trillion RMB) in value over the past year [8]