Novo Nordisk cuts workforce by 13,000 as it targets new growth in GLP-1 market

Danish pharmaceutical company Novo Nordisk has reduced its global workforce by about 13,000 employees from its peak, bringing its headcount to roughly 66,000, as the company restructures its operations and prepares for its next phase of growth.

The company disclosed the latest workforce figure at its Capital Markets Day on September 21, 2026. The restructuring follows a workforce reduction of around 9,000 employees announced in September 2025, shortly after Mike Doustdar became CEO. A further 4,000 employees have reportedly left since then.

Novo Nordisk said the restructuring has generated more than DKK 10 billion in savings. The company plans to redirect those resources toward research, development, manufacturing capacity and other growth initiatives.

Focus shifts to new medicines

A major part of Novo Nordisk’s strategy is to expand its pipeline of potential treatments beyond its existing GLP-1 portfolio.

The company aims to introduce more than five potential multi-blockbuster medicines by 2030 and is targeting more than DKK 150 billion in risk-adjusted pipeline sales by 2035.

Among the products and capacity initiatives outlined by the company are:

• CagriSema: planned launch in early 2027, subject to regulatory approvals.
• Cagrilintide: expected to become part of the company’s product expansion from 2028.
• Higher-dose semaglutide: targeted for 2028.
• Oral GLP-1 medicines: Novo plans to increase production capacity substantially, with a target of reaching 15 million patients.
• Patient reach: the company aims to serve approximately 60 million patients by 2030, compared with about 45 million currently.

Competition with Eli Lilly

Novo Nordisk’s restructuring comes as competition in the obesity and diabetes drug market intensifies, particularly with US-based pharmaceutical company Eli Lilly.

During the first half of 2026, Lilly reported combined sales of $27.6 billion for Mounjaro and Zepbound, while Novo Nordisk generated $15.7 billion from Ozempic and Wegovy, according to the figures presented in the company’s market update.

The sales gap has increased pressure on Novo Nordisk to expand its product portfolio, improve manufacturing capacity and develop new treatments.

Investors remain focused on pricing and patents

Despite the company’s longer-term growth targets, investors have continued to watch several risks facing Novo Nordisk.

The US patent position surrounding semaglutide, including the expected expiry of key protection in 2032, remains an important consideration for the company’s future revenue outlook. Pricing pressure in the US obesity and diabetes drug market is another factor that could affect future growth.

Novo Nordisk’s American depositary receipts fell more than 8% to around $39.70 on September 21 following the company’s Capital Markets Day.

The restructuring therefore represents more than a cost-cutting exercise for Novo Nordisk. The company is seeking to use the savings to accelerate its pipeline, expand access to GLP-1 treatments and strengthen its position in an increasingly competitive obesity and diabetes medicines market.