Ozempic maker to slash 9,000 jobs globally as competition intensifies
AI-Generated Summary
Pharmaceutical giant Novo Nordisk plans to eliminate 9,000 jobs globally, approximately 11% of its workforce, primarily in Denmark. This significant restructuring is attributed to rising operational costs and intensifying competition in the lucrative obesity drug market, including from rivals and "copycat" versions. The company anticipates a 9 billion DKK cost for the restructuring, leading to a downgraded profit outlook for 2025.
In a nutshell
This strategic move by a leading pharmaceutical company highlights the challenges of maintaining growth and efficiency in a rapidly evolving and competitive market, even for highly successful products. It underscores the ongoing need for companies to adapt their operations and resource allocation to sustain long-term success amidst market pressures.
Source: LBC
