Splash giant
Ozempic manufacturer Novo Nordisk wants to delete thousands of places
Novo Nordisk fights with falling market shares. The shares have fallen heavily since the beginning of the year. Now the manufacturer of weight loss syringes is countered.
The Danish pharmaceutical company Novo Nordisk, manufacturer of the weight loss injections Ozempic and Wegovy, has announced the deletion of 9,000 jobs worldwide. This corresponds to about eleven percent of the employees. The company said more than half of the jobs in Denmark on Wednesday. By the end of 2026, around eight billion crowns (1.07 billion euros) are to be saved annually. For the third time this year, Novo Nordisk also reduced his forecast for the current year.
The aim is to set up the company slimmer and accelerate decisions. The group should primarily focus on growth opportunities in the field of diabetes and obesity, it said. The forecast for the profit this year was significantly reduced. Already in August, the group had imposed a stopping stop for non -business -critical positions.
The share price of Novo Nordisk has dropped greatly since mid -2024
Novo Nordisk had temporarily increased to the most valuable company in Europe with the weight loss injections, with a market value of around $ 650 billion. Since 2020, Novo Nordisk has continuously hired new people, the number of employees grew from 43,700 to 78,400.
Since mid -2024, however, the share price has broken down by more than half. In July, after a winning warning and the appointment of Doustdar, the group lost $ 70 billion in stock market value. The share has fallen by almost 46 percent since the beginning of the year, and the market value shrank to around $ 181 billion until Tuesday evening. On the stock exchange, the stock turned into the plus after initial losses.
US competitor Eli Lilly faces a weight loss pill that should be cheaper and is much easier to apply than injections; Pharmacies also sell cheaper imitators in the United States.
CEO Mike Dustdar emphasizes the need for more efficient resource use
“Our markets are developing further”, so the company also has to develop, explained the new boss Mike Dustdar on Wednesday. This means to introduce a “more performance -oriented culture, to use our resources more and more efficiently and to prioritize the investments where they have the greatest effect”.
Novo Nordisk is currently only expecting a profit margin of four to ten percent. In his last forecast at the end of July, he still assumed a margin of ten to 16 percent. The margin indicates what percentage of sales remain as a profit.
The company announced in mid -May to separate his long -time boss Lars Fruergaard Jörgensen. Doustdar has been running the business since the beginning of August. Before that, he was responsible for international business.
“The savings plan is hard and very necessary,” said Nordnet analyst by Hansen. “Mike Dustdar has to make a pure table so that Novo can get forward.” For the third quarter, Novo expects one -time restructuring costs of 1.2 billion crowns. The forecast for operational profit growth in the current year was reduced to four to ten percent, after ten to 16 percent – exclusively due to the renovation costs.
AFP · dpa · Reuters
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Source: Stern
