Novo Nordisk Freezes Hiring As Wegovy Faces Copycats

Novo Nordisk A/S (NYSE:NVO) has reportedly imposed a global hiring freeze for nonessential roles, as the drugmaker faces rising competition from copycat versions of Wegovy and intensifying rivalry with Eli Lilly and Co (NYSE:LLY).

Layoffs are also under consideration as part of broader cost-cutting measures. New CEO Mike Doustdar, who took the helm in August, told Danish broadcaster TV2 that he will explore further savings.

The move follows a significant downturn in July, after Novo Nordisk trimmed its 2025 financial outlook for the second time this year, signaling growing headwinds in key markets.

The company now expects 2025 sales growth of 8-14% at constant exchange rates. The prior forecast ranged between 13-21%, and ...