Novo Nordisk A/S’s chairman said the Danish drugmaker must protect its obesity business from being eroded with falling prices, as the industry pioneer squares off against rapidly strengthening rivals.
Lars Rebien Sorensen told employees Wednesday that conditions in the obesity market resemble the US insulin price wars he had to navigate at the end of his tenure as Novo’s chief executive a decade ago. That battle ultimately led to mass layoffs and hastened his departure as CEO.
Read More: How Novo Nordisk Is Aiming for a Weight-Loss Recovery: QuickTake
“It became a price game,” Sorensen, who is also chairman ...
