Novo Nordisk appointed Mike Doustdar as its new CEO amid lowered financial guidance for 2025, cutting expected sales growth of blockbuster obesity and diabetes drugs Wegovy and Ozempic to 8–14% from a previous 13–21%. This adjustment reflects increased competition from compounded semaglutide versions and challenges in recapturing market share. The company also reorganized its R&D to streamline operations. Shares plummeted over 20%, erasing tens of billions in market value, signaling a pivotal moment for this biotech leader.