1326 GMT - Novo Nordisk's CEO departure comes as a surprise despite the steep share price decline over the past year, traders in Frankfurt say. Although the share's decline has been steep, the valuation nearly quintupled in the time leading up to it. "The CEO can't do anything about competition entering a market with (product) profitability like that," a trader says. The Danish pharma company--known for its weight-loss treatments--said it is currently seeking a successor for the CEO post. Shares trade 1.9% lower at 425.75 Danish kroner, after falling more than 4% following the news. (michael.denzin@wsj.com)
(END) Dow Jones Newswires
May 16, 2025 09:27 ET (13:27 GMT)
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