Sorry to see him go, but it had to happen. The stock tanking was simply too much, and the communication around e.g. cagrisema was very unfortunate to say the least.
CEO sacking
- Thread starter anonymous
- Start date
-
- Tags
- None
Absolute shitshow: the board was overruled by the NN Foundation who wanted Lars F gone now, like right now. No successor in place and we’re going to have a lame duck as caretaker CEO for at least SIX months. As Lars Rebien said in 2016 before it all went to hell in a handbasket: “you aint seen nothing yet” 
Trump will fix this. Thank the higher power this happened while he is in office. Well be back at all time highs in no time.Absolute shitshow: the board was overruled by the NN Foundation who wanted Lars F gone now, like right now. No successor in place and we’re going to have a lame duck as caretaker CEO for at least SIX months. As Lars Rebien said in 2016 before it all went to hell in a handbasket: “you aint seen nothing yet”
what does this mean for NN hiring or promotions this year, shot?
Is this a joke? The new regime is looking to do like Elon at doge and make major cuts for cost savings. He knows reps do nothin anyway.
“The new regime…” you mean the one that hasn’t even been appointed yet? Stop acting like you’re in the know, hot shot.
Lars wasn’t the smartest. He rode the wave up and then didn’t know what to do when things started going south.
The reality is that Novo has gotten their head handed to them by Lilly. That is saying along because Lilly is not exactly a formidable competitor. Lilly runs from their own shadow, ultra cautious in their promotional efforts.
I remember him saying that. I guess Lars RS was rightAbsolute shitshow: the board was overruled by the NN Foundation who wanted Lars F gone now, like right now. No successor in place and we’re going to have a lame duck as caretaker CEO for at least SIX months. As Lars Rebien said in 2016 before it all went to hell in a handbasket: “you aint seen nothing yet”
The change they’re looking for is someone who will look to increase efficiency. You gotta admit that some areas have excess fat (no pun intended!)
Fire Negelle, fire 5/6 of useless tAlenT aCqUisitioN and HR, rebrand company Nordisk Novo
A lot of the chatter internally is to pare back the salesforce, candidly the ROI has not been great with reps. The corporate chatter is suggesting to pare back on field sales, and redirect that promotional spend to multi channel marketing, and also accepting some margin declination in favor of growing market share through alliances, such as what was announced recently. This seems to make sense, obviously isn’t great news for the salesforce, but the company has a good opportunity to better deploy capital to maintain increase market share..
That is, until the payers start to prefer LLY
Just 2 or 3 months ago Lars was talking about how the stock doesn't dictate Novo's performance.
Still sure about that?
Still sure about that?
What is he supposed to say? Is management supposed to tell you that huge cuts will be coming…then you will stop working.
Helge Lund is the jerk here. He was fired from BP. How is he the one taking decisions?
The failure here is not the recent performance that resulted in the stock decline but rather the decisions that were made years ago that severely underestimated the potential of semaglutide in obesity. Had the company really known what they had, we wouldn’t be in the no-win situation we are in now.
We would’ve had supply from the start. We would gained preference earlier. It would have taken years not months for Zepbound to take over.
Lars himself admitted as much a couple years ago during the peak of our supply issues. We are a diabetes company and we looked at Wegovy and obesity as a nice little add on. We totally underestimated the paradigm shifting potential that GLP-1 had.
Since that decision we made mis-step after mis-step. We thought our way of doing it was the right away and neglected to innovate and all the while Lilly just kept marching on.
You don’t need thousands of reps selling Wegovy. We launched it with a couple hundred. What you needed was supply. Support. Access. Innovation.
But now it’s all too late. Nothing can be done now to change the trajectory of both Ozempic and Wegovy. The best we can do is hope that CagriSema or another asset we’ve acquired can compete.
But again, Lilly is light years ahead of us in pipeline and their next generation meds look better than our own.
Love Novo as a company, but I fear for our future.
We would’ve had supply from the start. We would gained preference earlier. It would have taken years not months for Zepbound to take over.
Lars himself admitted as much a couple years ago during the peak of our supply issues. We are a diabetes company and we looked at Wegovy and obesity as a nice little add on. We totally underestimated the paradigm shifting potential that GLP-1 had.
Since that decision we made mis-step after mis-step. We thought our way of doing it was the right away and neglected to innovate and all the while Lilly just kept marching on.
You don’t need thousands of reps selling Wegovy. We launched it with a couple hundred. What you needed was supply. Support. Access. Innovation.
But now it’s all too late. Nothing can be done now to change the trajectory of both Ozempic and Wegovy. The best we can do is hope that CagriSema or another asset we’ve acquired can compete.
But again, Lilly is light years ahead of us in pipeline and their next generation meds look better than our own.
Love Novo as a company, but I fear for our future.