Ozempic-maker Novo Nordisk to cut 9,000 jobs

The maker of Wegovy and Ozempic, Novo Nordisk, has announced it will cut 9,000 jobs weeks after warning that profits will fall as more “knock-off” weight-loss drugs emerge.

The redundancies make up 11% of the Danish company’s workforce and mark the first major step by new chief executive Mike Doustdar as Novo Nordisk faces mounting pressures in the rapidly expanding weight-loss sector.

Demand for weight-loss drugs has increased in recent years, in particular after Covid-related lockdowns forced people to stay in their homes.

Mr Doustdar said: “Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must evolve as well.”

Novo Nordisk has faced increased competition from rivals such as Eli Lilly which makes Mounjaro.

Eli Lilly recently hiked the price of Mounjaro in the UK, leading to some patients warning they were unable to get hold of the medicine as pharmacies stockpiled the drug before the rise came into force.

The company announced Mounjaro’s price will rise by up to 170%, meaning a month’s supply of the highest dose will go up from £122 to £330.

However, Eli Lilly has offered a discounted deal to UK suppliers which is expected to limit the price increase to consumers from September.

Eli Lilly originally said the UK price of Mounjaro had to increase to be more in line with higher prices in Europe and the US.

At Novo Nordisk, the firm warned in July that its full-year sales and profits would not grow as quickly as expected.

The company aims to cut costs by 8 billion Danish kroner (£927m) by the end of next year.

In July, Novo Nordisk warned that its full-year sales and profits would not grow as quickly as expected.

Amid rising pressures, the company replaced long‑time chief executive Lars Fruergaard Jørgensen in May 2025.

He was replaced by Mr Doustdar, who said in his latest statement that “over the past years, Novo Nordisk’s rapid scaling has increased organisational complexity and costs”.

Mr Doustdar said that while “it is always difficult to see talented and valued colleagues go, but we are convinced that this is the right thing to do for the long-term success of Novo Nordisk”.

The company says it will begin discussions with employees in the coming months, in line with local labour laws.

It will share more details when it reports its financial results on 5 November.

There are two drugs on the market – semaglutide, marketed under the brand name Wegovy, and tirzepatide, sold as Mounjaro.

Semaglutide injections are used to treat diabetes but, in recent years, have become wildly popular with people looking to lose weight.

They are given as weekly injections via pre-filled pens that can be self-administered into the upper arm, thigh or stomach.

Both drugs work as an appetite suppressant by mimicking a hormone which makes people feel fuller. Mounjaro also affects metabolism and helps regulate energy balance.

Patients generally start on a low level dose, which is gradually increased until they reach a maintenance dose.

The drugs often come with side effects, commonly including nausea, constipation and diarrhoea.