Eli Lilly Chairman and CEO Dave Ricks joins ‘Mornings with Maria’ to debate his assembly with President Donald Trump, the president signing an govt order to spice up U.S. drug manufacturing and breaking floor on their $4.5 billion foundry.
Novo Nordisk, the maker of in-demand medication Ozempic and Wegovy, mentioned it’s going to reduce 1000’s of worldwide jobs to simplify operations and reallocate assets towards its diabetes and weight problems medication as rivals take a chunk out of the market share.
The corporate introduced on Wednesday that it intends to scale back the worldwide workforce by roughly 9,000 of the 78,400 positions within the firm, with round 5,000 cuts anticipated in its dwelling nation of Denmark.
The corporate is placing extra money and energy into the way it sells its diabetes and weight problems merchandise and by creating new medicines to focus on these situations.
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Wegovy injection pens organized in Waterbury, Vermont, on April 28, 2025. (Shelby Knowles/Bloomberg through / Getty Photographs)
The cuts will happen throughout the corporate, together with workers areas and headquarters capabilities. The corporate will start notifying staff over the subsequent few months.
Novo Nordisk introduced on Wednesday that it plans to chop 9,000 jobs. (Tom Little/File picture / Reuters Pictures)
Novo Nordisk mentioned the transformation displays the corporate’s dedication to “meet rising global demand while also competing in a more dynamic and consumer-driven obesity market, as evidenced by the recent slowdown in growth.”
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The corporate acknowledged that its speedy growth in recent times has created better organizational complexity and better prices. The job cuts are meant to streamline operations and allow the corporate to additional spend money on science, business capabilities and manufacturing scale-up, in response to Novo Nordisk.
Eli Lilly headquarters in Indianapolis, Indiana, on Could 3, 2023. (AJ Mast/Bloomberg through / Getty Photographs)
“Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must evolve as well,” Novo Nordisk CEO Mike Doustdar mentioned, noting that this “means instilling an increased performance-based culture, deploying our resources ever more effectively, and prioritizing investment where it will have the most impact – behind our leading therapy areas.”
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The uptick in competitors is notably led largely by Eli Lilly, which has aggressively gained floor attributable to its variations of weight-loss medication Zepbound and Mounjaro. Income within the second fiscal quarter grew to $10.4 billion primarily due to each medication, which have the identical lively ingredient, tirzepatide, however completely different accredited makes use of.
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Novo Nordisk mentioned it additionally misplaced market share attributable to different merchandise made by compounding pharmacies which can be hurting its income.
