Novo Nordisk CEO says company is open to deals beyond obesity

Novo Nordisk CEO Mike Doustdar said the Danish drugmaker is considering mergers and acquisitions as it faces stronger competition in the weightloss market. He made the comments on CNBC a day after the company’s shares fell sharply following an investor presentation that did not reassure markets. Doustdar said Novo is looking for gaps it can fill through deals, especially in areas where other companies may have better drugs. He said the company wants to diversify beyond diabetes and obesity into blood and endocrine disorders, liver disease, and cardiovascular disease. The company has outlined plans to launch more than five major drugs by 2030 and expects those products to contribute significant sales by 2035. Still, investors have been concerned about how Novo will compete with Eli Lilly, which has gained market share in the obesity drug market and seen stronger stock performance over the past year.