Key facts
- Novo Nordisk is changing its day-to-day name to 'Novo'.
- The company will keep 'Novo Nordisk A/S' as its legal name.
- The rebranding reflects a broader focus beyond diabetes and obesity treatments.
- A new cultural strategy, 'The Novo Way', has been introduced.
- The move comes amid fierce competition from Eli Lilly.
Novo Nordisk, the pharmaceutical company behind the popular weight-loss drug Ozempic, is changing its day-to-day name to 'Novo' as it navigates a competitive landscape in the obesity drug market. The company announced on Monday that it is also implementing a new cultural strategy, 'The Novo Way,' which is built around four core principles: customer obsession, competitiveness, clarity, and care and integrity. While 'Novo Nordisk A/S' will remain the legal name, the shift to 'Novo' signifies a broader strategic focus beyond its established diabetes and obesity treatments. This rebranding and cultural reset occur as Novo Nordisk faces intense competition from rival Eli Lilly and pressure to deliver new blockbuster drugs, compounded by recent setbacks in its medicine pipeline, including the decision to scrap two late-stage trials for its experimental heart drug ziltivekimab. The company is slated to unveil further details on its business strategy during a Capital Markets Day on September 21.