Novo’s website currently shows multiple job openings in the U.S. and mainland China, but merely eight open positions in Denmark.
Danish drugmaker Novo Nordisk (NVO) has implemented a hiring freeze, which will apply across all markets and departments, Bloomberg reported on Wednesday, citing a company spokesperson.
Business-critical roles, however, would be exempted from the hiring freeze, the report said. On Stocktwits, retail sentiment around Novo remained within the ‘neutral’ territory over the past 24 hours, while message volume fell from ‘high’ to ‘normal’ levels.
A Stocktwits user expects the stock to trade over $100 in a year.
Another user opined that the stock can rally up to $70 if it can break the $55 mark.
Former CEO, Lars Fruergaard Jørgensen, said earlier this month that the company is taking measures to sharpen its commercial execution further, and ensure efficiencies in cost base while continuing to invest in future growth. Novo’s new CEO, Maziar Mike Doustdar, took charge on August 7.
Last month, the company, battling competition from its U.S. rival Eli Lilly, lowered its full-year 2025 outlook, citing lower growth expectations for its blockbuster weight loss drug Wegovy and diabetes drug Ozempic for the second half of the year.
The firm now expects sales growth of 8% to 14% during the year at a constant exchange rate, down from its previous estimate of 13% to 21%. Operating profit growth is now expected to be 10% to 16%, down from its prior outlook of 16% to 24%.
The company now sees lower growth for Wegovy in the U.S. obesity market and for Ozempic in the U.S. diabetes market, as well as lower-than-expected penetration for Wegovy in select international operations markets.
Novo’s website currently shows multiple job openings in the U.S. and mainland China, but merely eight open positions in Denmark. According to the company, it employs over 77,000 people in 80 offices around the world.
NVO stock is down by 36% this year and by about 60% over the past 12 months.
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