Leadership Transition - Novo Nordisk underwent a leadership change with Lars Fruergaard Jørgensen stepping down as CEO on August 7, 2025, after leading since 2017, during which the company experienced significant growth due to the demand for GLP-1 agonist medicines [1] - Maziar Mike Doustdar was appointed as the new president and CEO, a decision supported by the Novo Nordisk Foundation [2] Executive Experience - Doustdar has over a decade of senior leadership experience within Novo Nordisk's International Operations, overseeing a network of 80 affiliates and serving approximately 35 million patients [3] - Under Doustdar's leadership, International Operations sales more than doubled to about DKK 112 billion in 2024 [3] - His previous roles included general manager in Turkey and executive vice president, contributing to the expansion and performance of International Operations [4] Competitive Landscape - Eli Lilly is a major competitor in the obesity market, with its tirzepatide medicines generating combined sales of $14.7 billion in the first half of 2025, accounting for 52% of Lilly's total revenues [5] - Other companies, such as Viking Therapeutics, are also advancing in the development of GLP-1-based candidates, with ongoing late-stage studies for their investigational obesity drug VK2735 [6] Stock Performance and Valuation - Year-to-date, Novo Nordisk shares have declined by 40.8%, underperforming the industry and the S&P 500, which saw a 5.8% decline [7] - The company's stock is trading at a price/earnings ratio of 12.40, lower than the industry average of 14.05, and significantly below its five-year mean of 29.25 [11] - Earnings estimates for 2025 have improved from $3.86 to $3.89 per share, while 2026 estimates increased from $4.20 to $4.24 [14] Financial Metrics - The return on equity for Novo Nordisk on a trailing 12-month basis is 78.64%, surpassing the large drugmaker industry average of 34.32% [19]