Ozempic-maker Novo Nordisk to cut 9,000 jobs

Wegovy maker warns of slower profits as rivals bite

Patients struggle to get weight loss drug ahead of price rise

The redundancies make up 11% of the Danish company's workforce and mark the first major step

Demand for weight-loss drugs has increased in recent years, in particular after Covid-related lockdowns forced people to stay in their homes.

Mr Doustdar said: "Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must evolve as well."

Novo Nordisk has faced increased competition from rivals such as Eli Lilly which makes Mounjaro.

Eli Lilly recently hiked the price of Mounjaro in the UK, leading to some patients warning they were unable to get hold of the medicine as pharmacies stockpiled the drug before the rise came into force.

The company announced Mounjaro's price will rise

At Novo Nordisk, the firm warned in July that its full-year sales and profits would not grow as quickly as expected.

The company aims to cut costs

In July, Novo Nordisk warned that its full-year sales and profits would not grow as quickly as expected.

Mr Doustdar said that while "it is always difficult to see talented and valued colleagues go, but we are convinced that this is the right thing to do for the long-term success of Novo Nordisk".

The company says it will begin discussions with employees in the coming months, in line with local labour laws.