Novo Nordisk on Monday said it is rebranding its name to “Novo” and updating its corporate culture, as the company works to win back market share in the obesity drug space.Â
The Danish drugmaker called the changes the beginning of a new chapter, as it has been grappling with stiff competition from chief rival Eli Lilly and investor pressure to deliver new blockbuster products and chart a path toward long-term growth. Novo is preparing to detail its business strategy changes during its Capital Markets Day event on Sept. 21.Â
In an exclusive interview with CNBC, Novo CEO Mike Doustdar said the rebrand and culture shift are “part of the same package” for the company to evolve its strategy as it tries to win back customers from Lilly.
“I think there’s no secret that over the last four or five years, the external environment and what has happened to Novo Nordisk has really made us reflect how we need to readjust and rethink about the next…
