Wegovy-maker Novo Nordisk will cut 9,000 jobs in a restructuring, aiming to save 8 billion Danish crowns ($1.26 billion) annually, the company said on Wednesday, as it battles rising pressure from main U.S. rival Eli Lilly.
“Novo Nordisk today announced a company-wide transformation to simplify its organisation, improve the speed of decision-making, and reallocate resources towards the company’s growth opportunities in diabetes and obesity,” it said in a statement.
The company already said in August that it had implemented a global hiring freeze covering job roles that were not critical for its business.
Novo has been battling competition from copycat versions of its blockbuster Wegovy obesity drug this year.
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