Novo Nordisk announced it is rebranding to "Novo" and revamping its corporate culture as part of a strategy to recapture market share in the obesity drug sector. The Danish pharmaceutical giant faces intensifying competition from Eli Lilly, whose obesity treatments have gained a strong foothold. Novo CEO Mike Doustdar explained in an exclusive interview that the rebrand and cultural shift are interlinked efforts aimed at evolving the company’s approach to better compete and innovate in a changing healthcare environment.

Despite a successful launch of the oral version of its obesity drug Wegovy, which has surpassed 3 million prescriptions by June 2026, Novo has seen shares decline about 15% this year. The company holds 38.8% of the obesity drug market compared to Lilly’s 60.9%. The firm recently discontinued three cardiovascular drug trials as it recalibrates its focus. Novo’s new corporate motto, “Lasting Health Starts Now,” highlights its commitment to bringing breakthroughs closer to patients and fostering long-term wellness.

Doustdar emphasized that the rebranding is not solely a reaction to competitive pressures but a necessary adjustment to an operating landscape fundamentally changed over the past decade. The obesity treatment market now demands a more consumer-centric approach, requiring Novo to increase the speed and clarity of decision-making while providing care tailored to patient needs. To support this, the company is adopting four guiding principles aimed at innovation with patient focus, performance enhancement, prioritization, and uncompromised safety and ethics.

The company’s legal name remains Novo Nordisk, a legacy dating back to its 1989 formation. Looking ahead, Novo plans to detail further strategic changes at its Capital Markets Day on September 21. Doustdar expressed confidence in maintaining a strong position in the oral obesity drug segment, noting that physicians recognize the effectiveness of Wegovy amid growing competition, reinforcing Novo’s aim to adapt and thrive in a complex global market.