Novo Nordisk A/S has announced plans to cut its workforce by 9,000 as part of a restructuring measure that will enable it to concentrate more resources on its diabetes and obesities medicines. The Danish company is a market leader in both sectors, alongside Eli Lilly and Co, but has experienced setbacks on the US market owing to product shortages and competition. This led to the resignation of its chief executive Lars Fruergaard Jørgensen in May. His successor, Mike Doustdar, is a long-time employee of the company and assumed the position of CEO in August.
