Novo Nordisk A/S’s new chief executive officer is calling workers back to the office as the Ozempic maker struggles to catch up with Eli Lilly & Co. in the hyper-competitive obesity market.

Novo Nordisk, the Danish pharmaceutical giant behind the blockbuster obesity drug Wegovy, has announced a sweeping company-wide transformation that will result in the layoff of 9,000 employees worldwide,

Denmark's economy remains robust despite job cuts at Novo Nordisk , the finance minister told Reuters on Wednesday, dismissing concerns that the pharmaceutical company's financial troubles could further impact the country’s economic outlook.

As Novo Nordisk cuts 9,000 people from its organization in a restructuring effort, BioSpace looks back on the Danish pharma company’s rise.