After announcing plans last September to cut 9,000 jobs, Novo Nordisk disclosed the final headcount reduction figures at its Capital Markets Day held in London on September 21.
Novo Nordisk stated that through this round of organizational restructuring, the company has saved more than 10 billion Danish kroner (approximately $1.535 billion), which will help redirect funds back into commercialization and research and development. The cumulative adjustments have involved around 13,000 positions, and the company now employs 66,000 full-time staff globally.
The primary driver behind Novo Nordisk's workforce optimization is the mounting growth pressure facing its flagship product, semaglutide, which supports more than 70% of the company's total revenue. In the first half of 2026, semaglutide's combined product portfolio (covering both diabetes and weight-loss indications) generated total sales of 112.193 billion Danish kroner (approximately $17.525 billion), trailing competitor Eli Lilly's tirzepatide by around $10.2 billion in revenue.
The growth challenges for semaglutide stem not only from intense competitive market dynamics but also from the looming threat of patent expirations. According to IQVIA statistics, in 2026, semaglutide will face its first wave of significant patent and data protection expirations across eight key markets, including Canada, Brazil, China, India, Mexico, Turkey, Saudi Arabia, and South Africa. The second wave of patent expirations will be led by select European countries, primarily the Baltic states and Central and Eastern Europe, a phase that will serve as a crucial testing ground for generic drug manufacturers to evaluate their market entry strategies in Europe. Subsequently, the third and largest wave of markets will gradually open, encompassing the United States and most European countries.
During this phase, competitive intensity will reach its peak, and companies will need to strategically position themselves between the patent-expiring semaglutide and next-generation obesity treatments. Novo Nordisk is attempting to launch its next-generation weight-loss injectable, with the CagriSema combination therapy (a GLP-1/amylin formulation combining cagrilintide and semaglutide) expected to reach the market in 2027.
Novo Nordisk has indicated that it is adapting to the changing environment while pursuing new growth opportunities. Beyond consolidating and expanding its therapeutic leadership in diabetes and obesity, the company is also building future growth engines in hematology and endocrine disorders, liver disease, and cardiovascular disease. Additionally, the company is exploring consumer prescription drug businesses.
At this Capital Markets Day, Novo Nordisk unveiled its 2030 strategic ambitions. In terms of strengthening and enriching its R&D pipeline, the company announced plans to launch more than five super-blockbuster products by 2030 and achieve pipeline sales exceeding 150 billion Danish kroner by 2035. It also aims to advance no fewer than five Phase 3 clinical programs in obesity and diabetes, and at least five Phase 3 clinical programs in other therapeutic areas.
To drive sustainable growth, the company is committed to maintaining a revenue compound annual growth rate (CAGR) from 2026 to 2030 that aligns with comparable industry peers. At the same time, it is expanding oral weight-loss drug production capacity, with the goal of increasing the number of obesity patients receiving GLP-1 tablet therapy to ten times current levels.
Comments