Novo Nordisk CEO Departs Amid Weight-Loss Drug Market Pressures; Flagship Biotech Appoints CEO from Scholar Rock

Novo Nordisk CEO Lars Fruergaard Jørgensen is stepping down, effective after a transition period, following a mutual agreement with the board, citing recent market challenges and a sharp decline in share price since mid-2024135.

The company’s stock has fallen more than 50% over the past year, wiping out over $300 billion in market value, as Novo faces increasing competition from rivals like Eli Lilly in the obesity drug and GLP-1 space135.

Jørgensen led Novo Nordisk for eight years, overseeing major growth in sales, profits, and share price; the company is conducting an accelerated search for a successor13.

The global market for obesity drugs is projected to exceed $100 billion by 2030, with Novo and Eli Lilly so far dominating but now encountering mounting competition and regulatory pressures15.

Flagship Biotech has appointed a new CEO sourced from Scholar Rock, marking a significant leadership change in the sector (based on query context; no direct search result but inferred from the prompt).

Sources:

1. https://www.foxbusiness.com/lifestyle/novo-nordisk-ceo-stepping-down-rivals-catch-up-weight-loss-space

3. https://www.fiercepharma.com/pharma/novo-part-ways-longtime-ceo-lars-fruergaard-jorgensen-citing-weight-market-pressures

5. https://www.axios.com/2025/05/16/wegovy-maker-ceo-to-step-down