Novo Nordisk's Bold Office Return Amid Obesity Drug Battle

Novo Nordisk, the pharmaceutical giant behind the obesity drug Wegovy, announced a significant operational shift on Thursday. The company directed its workforce to return to office settings, a decision steered by the new CEO aiming to enhance decision-making and compete effectively in the obesity drug market.

The announcement precipitates a sharp pivot from previous flexible work arrangements, with Novo Nordisk experiencing stagnation in sales and a stock market valuation drop of $450 billion since last year, amid fierce competition from U.S. competitor Eli Lilly. The company is also confronting a slew of generic drug alternatives.

This move aligns Novo with broader industry trends, as global corporations like JPMorgan Chase and Amazon call employees back to traditional work environments. Novo emphasizes flexibility, allowing individual manager-employee agreements to balance personal and business needs.

(With inputs from agencies.)