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
CordenPharma announced its largest strategic investment to date, committing to spend ~€900m over the next three years to enhance its peptide technology platform. The planned investment consists of two major expansion initiatives occurring in parallel in the US and Europe, including both existing facilities and new constructions.
DSM-Firmenich has announced the sale of its MEG-3 fish oil business to KD Pharma Group, a contract development and manufacturing organisation that is active in pharmaceutical and nutritional lipids. As part of the transaction, DSM-Firmenich will obtain a minority stake of 29% in KD Pharma’s parent company O³ Holding GmbH.
Veranova, a development and manufacturing of specialist and complex APIs for the pharmaceutica l and biotech sectors, recently announced the appointment of Cécile Maupas as Senior Vice President, Chief Commercial Officer. Cécile will join the executive team and assume responsibility for business development, marketing, project management, commercial operations, and product management.
