Novo Nordisk Rebrands to 'Novo,' CEO Says Obesity Strategy Needs Rethink
In an interview with CNBC, new chief executive Mike Doustdar said the Danish drugmaker's rebranding marks a new chapter as it faces intensifying competition from Eli Lilly.
Novo Nordisk is rebranding itself as "Novo," according to an interview its chief executive, Mike Doustdar, gave to CNBC, which reported the change alongside his comments on the company's competitive position in the obesity-drug market.
Doustdar told CNBC that the rebranding represents "the beginning of a new chapter" for the Danish pharmaceutical company, which has built its recent growth around demand for its weight-loss and diabetes treatments.
According to CNBC, the drugmaker is reassessing its approach to the obesity market as it faces stiff competition from U.S. rival Eli Lilly, a company that has emerged as a major challenger in the same segment.
The CNBC report did not provide further detail on the specific elements of the rebranding or the timeline for implementing changes to the company's obesity strategy.
CNBC's report is based on its interview with Doustdar; Novo Nordisk has not issued a separate public statement covering the same details, according to the available reporting.
Sources
- Novo CEO tells CNBC why drugmaker is rebranding, needs to 'rethink' obesity strategy — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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