Novo Boardroom Shake-Up Aims to Refocus on U.S. Weight-Loss Market
Boardroom tensions at Novo Nordisk, the Danish maker of Wegovy, have exposed the company’s biggest challenge — how to better capture America’s growing demand for weight-loss drugs.
The drugmaker, once dominant in the obesity-treatment market, has lost ground to U.S. rival Eli Lilly and cheaper generic alternatives. Price pressure from President Donald Trump’s administration and the rapid rise of direct-to-consumer sales have further intensified competition.
On Tuesday, Novo’s top shareholder, the Novo Nordisk Foundation, announced plans to take control of the company’s board. It pledged to sharpen focus on the U.S. market, accelerate mass-market expansion, and reignite sales growth for Wegovy.
Incoming chair Lars Rebien Sorensen, a former CEO, said the company must adapt to a “dynamic and consumer-driven” obesity market in the United States, calling it “our daily bread.” He criticized the board for reacting too slowly to the industry shift.
Sorensen emphasized that manufacturing GLP-1 drugs at large scale and competitive cost would be key to future success. He also highlighted the addition of Helena Saxon, H&M board member and former Sobi executive, as a sign of Novo’s push for more consumer-oriented leadership.
U.S. Consumers Shift Toward Online Weight-Loss Platforms
An increasing number of Americans are buying Wegovy and similar treatments online, through digital health platforms that simplify access, offer discounts to uninsured patients, and provide nutrition guidance.
Markus Manns, portfolio manager at Union Investment, said the board changes would help Novo gain vital consumer insight. “They had neglected the self-pay and consumer segment — now they must focus more on it,” he told Reuters.
UBS analysts echoed that the lack of consumer-focused expertise had been a recurring concern among investors, describing it as a weakness in the “increasingly consumerised U.S. obesity market.”
Morningstar’s Karen Andersen noted that Novo’s board changes come as it seeks to “regain its footing” in the U.S., the world’s most lucrative market for obesity treatments. A stronger focus on pricing and accessibility, she said, could pressure Eli Lilly and reshape the competition.
Competing for Consumers in a Changing Market
Eli Lilly gained a first-mover advantage by launching its LillyDirect platform last year, allowing consumers to buy its weight-loss drug Zepbound directly. The platform expanded this year to limit competition from compounding pharmacies.
Novo Nordisk responded with its NovoCare direct-to-consumer platform and new partnerships, though a high-profile collaboration with Hims & Hers ended abruptly in June.
Analysts say both drugmakers face the same challenge — finding ways to expand access to millions of eligible patients while meeting investor expectations. Evan Seigerman of BMO Capital Markets said scaling up coverage through employer plans and Medicare could be key, alongside stronger direct-to-consumer strategies.
“One way forward,” he said, “is definitely leaning into direct-to-consumer.”
