Novo Nordisk rebrands to the single name ‘Novo’

A rebrand to the single name ‘Novo’ has been unveiled by Novo Nordisk, following two years of share-price declines, a change of leadership and falling market share.

A difficult two years

The rebrand follows a difficult period for the company, an early pioneer of GLP-1 obesity treatments. Novo’s shares have lost roughly two-thirds of their value since peaking in mid-2024, and it is heading for its first annual sales decline since 2017.

In August 2025 it replaced long-serving chief executive Lars Fruergaard Jørgensen with Mike Doustdar, previously its head of international operations – a change the board linked to the share-price decline and competition – alongside wider board changes.

Pipeline setbacks have added to the pressure, including trial results for its obesity drug candidate CagriSema that fell short of expectations, and a cardiovascular outcomes trial for ziltivekimab that did not meet its primary endpoint, along with job cuts.

What is changing

Novo Nordisk A/S remains the legal name, but ‘Novo’ becomes the company’s everyday identity, carried by the strapline ‘Lasting Health Starts Now’ and a new operating culture, ‘The Novo Way’. Its four stated principles are competitiveness, customer obsession, clarity, and care and integrity.

The company’s Apis bull logo, part of its heritage, is retained in an updated form. Doustdar said Novo needed “to become more competitive”, with the changes intended to deliver “greater focus, speed and impact”.

Competition from Eli Lilly

Much of the pressure comes from US rival Eli Lilly, which has overtaken Novo in the obesity market rankings. In Q2 2026, Lilly held around 61% of the obesity drug market to Novo’s 39%, and its Zepbound (tirzepatide) outsold Novo’s Wegovy (semaglutide) on US prescriptions.

The gap in market value is also wide: Lilly became the first drugmaker worth $1tn and trades near $1,115 a share, against Novo’s roughly $43 and a market cap of about $190bn. For 2026, Lilly has forecast sales of $85-87bn, up around 25%, while Novo expects its own to be flat to 6% lower.

Novo’s response to the competition includes oral Wegovy and a 50% cut to the drug’s US list price from January 2027.

What comes next

The company will provide a detailed overview of its updated corporate strategy at a Capital Markets Day in London on 21 September.

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