Novo Nordisk Faces Scrutiny, Shareholder Meeting Ahead

Novo Nordisks weight-loss drug Wegovys stock surged despite losing a $10 billion bid for Metsera to Pfizer. Investors welcomed the end of the complicated deal. Pfizer acquired Metsera, an obesity drug developer, causing Novo Nordisk to withdraw from the bidding war. Novo faces competition from Eli Lilly and increased scrutiny over corporate governance. Norways sovereign wealth fund abstained from voting on a new board, expressing investor unease. Novo Nordisks extraordinary shareholder meeting this Friday may install the Novo Nordisk Foundations chair as the new company chair, raising concerns about potential instability.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.