After a long incubation, the crisis has exploded Novo Nordisk, a Danish company that is a world leader in anti-obesity drugs. There was a time when Novo Nordisk had surpassed the market capitalization of MY BAG even lvmh, the French fashion giant, becoming the first company in Europe in stock market value after tripling profits. That was in September 2023, but a lot of water has passed under the bridge since then.
The Danish company's anti-obesity products have had several setbacks, profitability has become less promising, competition from the American Eli Lilly has become increasingly aggressive and Novo Nordisk's stock price has plummeted to 50% in one year.
Faced with such a defeat, the board of directors has repeatedly sent signals of disappointment and not so veiled criticism to the CEO. Lars Fruergaard Jorgensen to the point of forcing him to resign. Jorgensen will remain in his position until his successor is identified, but his story at Novo is over.
The stock market didn't take it well and today the stock is losing another 3%, not so much out of affection for the CEO who had brought it to the height of success but because they don't see clearly in the future of the company. The sooner they find the successor the better, hoping that it is the right one.