Toss a Coin to Your New CEO? Novo Nordisk Boss Gets the Boot!

A Witcher's Work is Never Done Nor Is a CEO's Tenure

Hmm a shake up at Novo Nordisk eh? Lars Fruergaard Jørgensen is out as CEO. Eight years at the helm and now he's being given the ol' heave ho. Sounds like someone didn't pay their dues to the griffin in time. They say it's to "support a smooth transition." Smooth for whom I wonder? Likely smoother for the new bloke than for Jørgensen himself. And shares took a tumble of course. As predictable as a noonwraith after a battlefield.

The Obesity Drug Wars: A Tale of Two Companies

Looks like Eli Lilly is rubbing their hands together with glee. Their shares jumped while Novo Nordisk's face planted. It's a dog eat dog world even in the pharmaceutical game. Reminds me of the time I had to choose between saving a striga and a whole village. No good choice only lesser evils. And in this case Eli Lilly seems to be the lesser evil at least for investors.

Market Challenges? More Like a Pack of Wild Hounds

They're blaming it on increased competition and those pesky trial results for their next gen treatments. CagriSema was it? Sounds like a spell gone wrong. Their share price has taken a right beating they say. Down more than 50% since mid 2024. Ouch. That's a hit even a Witcher feels in his coin purse. "Wind's howling," indeed for Novo Nordisk's shareholders.

Secrets and Lies (And Boardroom Meetings)

Turns out the board had been planning this for weeks. Jørgensen bless his heart says he was only informed very recently. Sounds about right. Politicians and CEOs always the last to know when the ax is swinging. "Evil is evil Stregobor," one says. But who defines what is evil? In this case the board apparently. And they've decided Jørgensen is it.

Copycat Conundrums and FDA Shenanigans

Those compounded drugs are giving Novo Nordisk a proper headache. Jørgensen himself admitted they "took a part of our business away." Reminds me of the time a doppler impersonated me and started undercutting my contracts. Had to put a stop to that right quick. Seems the FDA is finally stepping in to end the drug shortage ruling so maybe things will look up for Novo Nordisk. But I won't hold my breath if I were them.

Optimism? More Like a Fool's Hope

Jørgensen was "very optimistic" about CagriSema. Famous last words. He claimed it was the "best product that has been tested." Well looks like the market disagreed. Optimism is a dangerous thing especially in this line of work. Leads to disappointment. I learned that the hard way time and time again. Now they need to replace him and someone will have to do his paperwork… that is going to be a mess!