Novo Nordisk's Layoff Process In Progress

Novo Nordisk has nearly completed the process of informing the 9,000 employees affected by layoffs. This information was included in a LinkedIn post by CEO Mike Doustdar on Friday. Doustdar noted that the speed of informing employees varies depending on local laws, while indicating that the layoffs were implemented globally.

This move is part of the restructuring plan initiated by Doustdar last month. Novo Nordisk is undergoing organizational changes amid fierce competition with Eli Lilly in the United States, the largest pharmaceutical market, while the $150 billion weight loss drug market is rapidly growing, and Novo aims to reach new heights.

Alongside Pfizer, Novo Nordisk is engaged in a bidding war for the latest experimental treatments of the biotechnology company Metsera, which operates in the obesity field. The two pharmaceutical companies are competing for access to Metsera's injectable GLP-1 drug that can be administered once a month.

Current popular injectable drugs include Novo’s Wegovy and Eli Lilly’s Zepbound, which are administered weekly. Metsera is one of several companies developing experimental weight loss drugs. This move comes after the dismissal of most of Novo Nordisk’s board members and serves as a response to concerns that the company has not been moving quickly enough in the obesity market.