Novo Nordisk named Maziar Mike Doustdar as its new chief executive on Tuesday, relying on an experienced company insider to revive sales and a share price hit by worries the Wegovy maker is falling behind in the weight-loss drug race it started.

July 29 (UPI) -- Novo Nordisk announced Tuesday that Mike Doustdar has been appointed as the company's new CEO. Doustdar steps into the role succeeding Lars Fruergaard Jorgensen, effective Aug. 7, 2025, which will also serve as Joregensens last day.

Danish pharmaceutical giant Novo Nordisk (NYSE:NVO) is watching its stock plummet 20% in morning trading after slashing its full-year sales and profit outlook for the second time this year. The announcement,

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

Jared Holz, Mizuho health care equity strategist, joins 'Money Movers' to discuss Novo Nordisk sinking on guidance cut and his outlook for the stock.