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Ozempic-Maker Novo Nordisk Slims Down to 'Novo'
The Danish drugmaker said the change aims to rebuild trust and regain obesity-market share after shares fell about 15% this year, it said.
- On Monday, the Danish firm Novo Nordisk announced it would embrace "Novo" as its new brand, aiming to signal a shift toward greater focus, speed, and impact in its corporate culture.
- The Danish drugmaker, formed by the 1989 merger of Novo Terapeutisk Laboratorium and Nordisk Insulinlaboratorium, is grappling with stiff competition from Eli Lilly and investor pressure to deliver new growth.
- Market data shows Novo lags in the obesity space with 38.8% market share compared to Lilly's 60.9%, while shares have dropped about 15% this year despite the successful launch of the oral version of Wegovy.
- Alongside the name change, the company announced a broader rebrand focused on the phrase "Lasting Health Starts Now," which promotes immediate progress toward long-term well-being to "create greater value for all stakeholders."
- Following the recent cancellation of three trials for an experimental cardiovascular drug, strategy changes will be detailed during the Capital Markets Day event on Sept. 21.
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The company deals with a strong competition in the field of treatments against obesity and believes that this change will allow it to "advance with greater attention, speed and impact"
The Danish pharmacist Novo Nordisk, manufacturer of the slimming cane, Ozempic, announced on Monday that it will adopt the simplified trademark, amid preparations to present an update of its strategy this month. Exclusive material for subscribers. To have full access, access the link of the material and register.
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Leaning Left5Leaning Right8Center13Last UpdatedBias Distribution50% Center
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50% Center
L 19%
C 50%
R 31%
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