Novo Nordisk CEO to step down amid market challenges and stock plunge

Novo Nordisk’s CEO, Lars Fruergaard Jorgensen, will step down amidst market challenges and a significant stock price drop, exceeding 50% since June 2024. Increased competition from compounded versions of Ozempic and Wegovy, along with Eli Lilly’s Zepbound gaining market share, contributed to the decision.