Novo Nordisk(US:NVO) 21世纪经济报道·2025-09-10 10:37Core Viewpoint - Novo Nordisk announced a large-scale restructuring plan, cutting approximately 9,000 jobs globally, which is about 11% of its total workforce of 78,400 employees, aiming for annual cost savings of around 8 billion Danish Kroner (approximately 1.1 billion USD) by the end of 2026 [4][10]. Group 1: Restructuring and Financial Impact - The restructuring plan will involve job cuts across various departments, including logistics and headquarters functions, with an expected one-time restructuring cost of about 9 billion Danish Kroner, to be recorded in the Q3 2025 financial report [4][10]. - Novo Nordisk anticipates achieving savings of approximately 1 billion Danish Kroner in the fourth quarter [8]. - The restructuring reflects a strategic shift in response to slowing growth and increased competition in the GLP-1 market, indicating a transition from "wild growth" to "refined cultivation" [7][11]. Group 2: Market Dynamics and Competitive Landscape - The growth rate of the company's key product, semaglutide, has begun to slow, with U.S. GLP-1 prescription growth dropping to around 15% in Q1 2024 from a peak of 30% in 2022 [11]. - Novo Nordisk's sales for the first half of 2025 reached 154.9 billion Danish Kroner (approximately 22.3 billion USD), with a notable 56% increase in obesity care sales [13][14]. - The competitive landscape is intensifying, with competitors like Eli Lilly entering the market with similar products, and the emergence of compounded drugs further challenging Novo Nordisk's market share [13][15]. Group 3: Future Outlook and Strategic Focus - The future focus for the GLP-1 market will likely center on obtaining approvals for additional indications, such as cardiovascular benefits, and ensuring payment accessibility amid stricter reimbursement policies [15]. - Novo Nordisk aims to maintain its leadership in diabetes and obesity treatment by simplifying its organization and enhancing efficiency to adapt to market changes [16].