Core Insights - Shares of Novo Nordisk (NVO) increased by 5% on June 10 due to news that activist hedge fund Parvus Asset Management is building a stake in the company to influence the appointment of a new CEO [1][9] - The company's previous CEO, Lars Fruergaard Jørgensen, stepped down following a mutual agreement with the board amid market challenges and a decline in share price [2][3] - Year-to-date, Novo Nordisk's shares have decreased by 6.7%, contrasting with the industry's growth of 3.1% [4] Company Developments - Novo Nordisk's semaglutide products, including Ozempic and Wegovy, have gained significant market traction, with Wegovy recently receiving FDA approval to reduce heart disease risk [6] - Upcoming presentations at the American Diabetes Association (ADA) 85th Scientific Sessions will include data from the STEP UP trial for a higher dose of Wegovy and full results from phase III REDEFINE studies on CagriSema [7][8] - The company is also set to present data on the pipeline candidate amycretin, showcasing its commitment to obesity innovation [10] Competitive Landscape - Novo Nordisk faces intense competition in the obesity market from Eli Lilly (LLY), which has seen success with its obesity drugs [11] - To address competitive pressures, Novo Nordisk is developing new obesity treatments and has submitted a regulatory application for oral semaglutide 25 mg for obesity, with a decision expected around year-end [12]