Jessica Mendoza

Tell me about the company behind this blockbuster drug.

Over the last decade, our colleague Pete Loftus has watched Novo Nordisk grow into a pharmaceutical juggernaut. Novo is one of the most valuable companies in Europe by stock market capitalization, thanks to the spectacular success of Ozempic and its sister drug, Wagovi.

Over the last decade, our colleague Pete Loftus has watched Novo Nordisk grow into a pharmaceutical juggernaut. Novo is one of the most valuable companies in Europe by stock market capitalization, thanks to the spectacular success of Ozempic and its sister drug, Wagovi.

Over the last decade, our colleague Pete Loftus has watched Novo Nordisk grow into a pharmaceutical juggernaut. Novo is one of the most valuable companies in Europe by stock market capitalization, thanks to the spectacular success of Ozempic and its sister drug, Wagovi.

Tremendous growth, strong sales, rising profits. Novo is a success story, which makes the latest news from the company all the more surprising.

Tremendous growth, strong sales, rising profits. Novo is a success story, which makes the latest news from the company all the more surprising.

Tremendous growth, strong sales, rising profits. Novo is a success story, which makes the latest news from the company all the more surprising.

By leaving, do we mean he's resigning? Is he retiring? What's going on?

By leaving, do we mean he's resigning? Is he retiring? What's going on?

By leaving, do we mean he's resigning? Is he retiring? What's going on?

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Wednesday, May 21st. Coming up on the show, Ozempic is a huge hit. So why is the drugmaker's CEO out? For most of its hundred-year history, Novo Nordisk was known mainly as a maker of insulin.

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Wednesday, May 21st. Coming up on the show, Ozempic is a huge hit. So why is the drugmaker's CEO out? For most of its hundred-year history, Novo Nordisk was known mainly as a maker of insulin.

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Wednesday, May 21st. Coming up on the show, Ozempic is a huge hit. So why is the drugmaker's CEO out? For most of its hundred-year history, Novo Nordisk was known mainly as a maker of insulin.

Novo's corporate headquarters outside of Copenhagen is even designed to mimic the winding structure of an insulin molecule. The company is also uniquely Danish in its corporate structure.

Novo's corporate headquarters outside of Copenhagen is even designed to mimic the winding structure of an insulin molecule. The company is also uniquely Danish in its corporate structure.

Novo's corporate headquarters outside of Copenhagen is even designed to mimic the winding structure of an insulin molecule. The company is also uniquely Danish in its corporate structure.

So Novo Nordisk, the company, is overseen by the nonprofit Novo Nordisk Foundation. And it's the foundation that decides how to reinvest some of the company's profits.

So Novo Nordisk, the company, is overseen by the nonprofit Novo Nordisk Foundation. And it's the foundation that decides how to reinvest some of the company's profits.

So Novo Nordisk, the company, is overseen by the nonprofit Novo Nordisk Foundation. And it's the foundation that decides how to reinvest some of the company's profits.

Novo's corporate structure effectively means that its CEO has to answer to the foundation. And since 2017, Novo's CEO has been Lars Juergensen.