US EditionNovo Nordisk Slumps as It Cuts Sales Forecast, Names New CEO
DENMARK, JUL 29 – Novo Nordisk appoints Doustdar as CEO after shares dropped over 20% due to lowered 2025 sales forecast amid weaker demand for diabetes and obesity treatments.
- On Tuesday, Novo Nordisk announced Maziar Mike Doustdar as president and CEO, with no effective date specified.
- Shares in Novo Nordisk slid more than 20% today as it cut full-year sales guidance, prompting Maziar Mike Doustdar's appointment as CEO on August 7.
- In April, the FDA ordered compounding pharmacies to stop selling copycat 'semaglutide' drugs, and Novo Nordisk is pursuing litigation to protect patients.
- On Tuesday, Martin Holst Lange will become chief scientific officer, with no further timeline details disclosed, under the new leadership at Novo Nordisk.
- The outlook shows operating profit growth expectations trimmed to 10%-16%, down from 16%-24% in May, and 2025 sales growth now modeled at 8%-14%, down from 13%-21%.
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14 Articles
14 Articles
Novo Nordisk's problems in the US will be the biggest headache for newly appointed CEO Maziar Mike Doustdar. This is according to several experts, including Henrik Blaagaard Hviid, who is a portfolio manager at...
·Aarhus, Denmark
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Maziar Mike Doustdar is tasked with getting Danish pharmaceutical manufacturer Novo Nordisk back on track. Who is Maziar Mike Doustdar? Doustdar is best described as…
·Netherlands
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Maziar Mike Doustdar started out as a young man copying papers in an office at Novo Nordisk. Now he's taking over the top job at the pharmaceutical giant.
·Copenhagen, Denmark
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Coverage Details
Total News Sources14
Leaning Left4Leaning Right1Center1Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 17%
R 17%
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