Wed, 10 Sep 2025

Wed, 10 Sep 2025 Ozempic-maker Novo Nordisk to cut 9,000 jobs

The Danish firm, which also produces Wegovy, has warned of increased pressure from "knock-off" drugs.

* Novo Nordisk will cut 9,000 jobs, making up 11% of its workforce
* This is the first major step by new CEO Mike Doustdar as the company faces increasing competition in the weight-loss sector
* Demand for weight-loss drugs has increased due to lockdowns and consumer demand, but Novo Nordisk's profits are expected to fall
* Rival Eli Lilly recently hiked the price of its Mounjaro drug by up to 170% in the UK, limiting the increase with a discounted deal
* Novo Nordisk aims to cut costs by 8 billion Danish kroner (£927m) by the end of next year
* The company will begin discussing redundancies with employees in the coming months, in line with local labour laws.
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