Novo's CEO Doustdar Tackles Investor Doubts Amid Wegovy Challenges

Novo Nordisk's new CEO, Maziar Mike Doustdar, is being tasked with restoring investor confidence as the firm's flagship weight-loss drug Wegovy faces challenges in market performance. Recent announcements prompted a staggering $70 billion market value loss, underscoring the need for strategic leadership.

Doustdar, an industry veteran with Novo since 1992, ascended from office clerk to heading global commercial units, except in the U.S. His appointment aims to revive sales momentum as competition heightens in the obesity drug sector.

With a focus on attracting investor trust, Doustdar's leadership will be pivotal in Novo's strategy to maintain its lead in the competitive weight-loss medication market while addressing underlying sales and stock performance issues.

(With inputs from agencies.)