"The changes are made in light of the recent market challenges Novo Nordisk has been facing, and the development of the company's share price since mid-2024," the company said in a statement.

Lars Fruergaard Jorgensen, the chief executive of once-highflying Danish drugmaker Novo Nordisk, is stepping down after eight years in the role, the maker of Ozempic and Wegovy drugs announced on Friday.

Ozempic-maker Novo Nordisk on Friday ousted its CEO Lars Fruergaard Jorgensen over concerns the company is losing its first-mover advantage in the competitive obesity drug market to American rival Eli Lilly .