Novo Nordisk has cut 13,000 jobs over the past year as CEO Mike Doustdar attempts to steer the company through intensifying competition and looming patent expirations. At its capital markets day, Novo Nordisk pledged to launch more than five blockbuster drugs by 2030 and deliver $23 billion in pipeline sales by 2035. However, investors remain skeptical, sending shares down 9% as rival Eli Lilly's Zepbound dominates the U.S. market and semaglutide patents face a major cliff in the early 2030s.
Novo Nordisk workforce reduction
- ▪Novo Nordisk disclosed on September 21, 2026, that its total workforce departures reached 13,000 employees over the past year
- ▪Novo Nordisk's initial round of 9,000 layoffs, carried out over the past year, included 5,000 job cuts in its home country of Denmark
- ▪The 13,000 workforce departures at Novo Nordisk consisted of an initial 9,000 layoffs followed by 4,000 subsequent exits
Eli Lilly obesity competition
- ▪Eli Lilly's Zepbound and Mounjaro gained market share to overtake Novo Nordisk in the crucial United States obesity drug market
- ▪Sales of Eli Lilly's rival obesity treatment Zepbound are projected to outpace Novo Nordisk's Wegovy by more than $7 billion in 2026
- ▪Novo Nordisk's Wegovy pill maintained a lead over Eli Lilly's Foundayo, exceeding 161,065 weekly prescriptions on September 11, 2026
Semaglutide patent expiration challenge
- ▪Novo Nordisk faces the expiration of patents for semaglutide, the active ingredient in Wegovy and Ozempic, in the early 2030s
- ▪Novo Nordisk generates more than 90 percent of its total sales from diabetes and obesity treatments
- ▪Novo Nordisk lost patent exclusivity for semaglutide in 2026 across India, Brazil, Canada, and Turkey, allowing cheaper generic competition
Blockbuster drug pipeline targets
- ▪Novo Nordisk CEO Mike Doustdar announced plans to launch more than five blockbuster drugs by 2030
- ▪Novo Nordisk targets delivering more than 150 billion Danish crowns ($23 billion) in pipeline sales by 2035
- ▪Novo Nordisk plans to launch its next-generation CagriSema obesity combination drug early in 2027
- ▪Novo Nordisk suffered a pipeline setback after halting clinical trials of its experimental cardiovascular drug ziltivekimab
Acquisition strategy diversification
- ▪Novo Nordisk investors and analysts urged the company to pursue acquisitions outside of diabetes and obesity to counter looming patent cliffs
- ▪Novo Nordisk executives stated that the company's balance sheet can support larger acquisitions beyond small bolt-on deals
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