Sector News

Novo Nordisk chief Lars Rebien Sorensen to step down early

September 1, 2016
Life sciences

The man who last year topped Harvard Business Review’s “world’s best-performing CEO” ranking will be stepping down from the Danish diabetes company after 16 years on the job.

The departure of Lars Rebien Sorensen also appears to be a departure from its long-term plan, reiterated last year by the company, that was set to see the long-standing chief see out his contract until 2019.

His shoes will from the start of next year be filled by Lars Fruergaard Jorgensen, currently the company’s EVP and head of corporate development.

Jorgensen said: “Succeeding Lars, who during 16 years as CEO of Novo Nordisk has spearheaded Novo Nordisk into a global, very successful and highly respected pharmaceutical company, is a tall order.

“On behalf of Novo Nordisk’s Board of Directors and the company’s employees, I want to thank Lars for his outstanding leadership, steady course and commitment to Novo Nordisk through good and difficult times during his 34 years with the company.”

The company has over the years seen strong growth, but pricing pressure in the U.S. for diabetes medicines, which is its predominant focus, have increased–and a month ago it was forced to cut its forecast for its full-year profit growth. Generic competition to insulin products is also piling on the problems for all diabetes drugmakers.

Göran Ando, the company’s chairman, said Jørgensen had a track record of “creating results, driving change and being a role model for the Novo Nordisk Way of running a company.” He added: “In his new role, he will be charged with leading Novo Nordisk through a time of extraordinary change in healthcare systems around the world, with the company’s long-term strategy, the Triple Bottom Line business principle and long-term financial targets as his guiding posts.

By Ben Adams

Source: Fierce Pharma

comments closed

Related News

January 29, 2023

Colorcon, Inc. signs Put agreement with intent to acquire controlled atmosphere packaging specialist Airnov Healthcare Packaging

Life sciences

Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.

January 29, 2023

Takeda pledges up to $1.13B for rights to Hutchmed’s cancer drug fruquintinib outside of China

Life sciences

Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.

January 29, 2023

Vir taps Bayer dealmaker Marianne De Backer as its next CEO

Life sciences

On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.

How can we help you?

We're easy to reach