Partially a result, Novo Nordisk has steadily declined since last summer. Over the past year, NVO shares are down more than 57%. And since the beginning of 2025, the company’s share price has declined more than 35%. As of the time of this writing, NVO shares are down just over 20% this morning to $55.17 per share.

Novo Nordisk named Maziar Mike Doustdar as its new chief executive on Tuesday, relying on an experienced company insider to revive sales and a share price hit by worries the Wegovy maker is falling behind in the weight-loss drug race it started.