Market Chatter: Novo Nordisk Urged by Shareholders to Develop New Medicines, Pursue Acquisitions

MT Newswires Live

09/21

Novo Nordisk (NVO) is facing shareholder calls to develop new medicines and pursue acquisitions so that it could lower its dependence on its popular weight-loss treatments, the Financial Times reported Sunday, citing the company's investors.

The Danish pharmaceutical giant's chief executive, Mike Doustdar, is under pressure to demonstrate that Novo can regain ground lost to key rival Eli Lilly (LLY) in the obesity drug market, according to the report.

Novo will discuss topics, including research and development, at its capital markets day scheduled for Monday, the company said in a statement e-mailed to MT Newswires.

Novo shares were down 6.1% in premarket activity Monday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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