Pharmaceutical company Novo Nordisk, maker of blockbuster weight loss drug Wegovy, says its CEO is stepping down.

Wegovy-maker Novo Nordisk said on Friday its CEO Lars Fruergaard Jorgensen will step down over concerns the company is losing its first-mover advantage in the highly competitive obesity drug market.

Novo Nordisk CEO Lars Fruergaard Jørgensen is stepping down as the Danish drug giant faces increased competition for its weight-loss drugs and declining share price. Why it matters: Novo has faced challenges developing next-generation obesity drugs and will see its popular but pricey GLP-1s Ozempic and Wegovy subject to the next round of Medicare drug price negotiations in the U.

President Donald Trump used the story of an overweight friend getting weight-loss medication at a much lower cost overseas to illustrate why he’s working to cut prescription drug prices.

President Donald Trump signed an executive order this week setting a 30-day deadline for drugmakers to electively lower prices in the U.S. or face new limits on what the government will pay

Drug overdose deaths in the United States made an unprecedented drop to the lowest they’ve been in five years, according to a new federal government estimate released Wednesday.

In Michigan, overdose deaths decreased from 2,992 in 2023 to 1,916 in 2024 — the lowest number in almost a decade.