Novo Nordisk CEO Lars Jorgensen testifies before a Senate Health, Education, Labor, and Pensions Committee hearing on U.S. prices for the weight loss drugs Ozempic and Wegovy, on Capitol Hill in ...

Novo Nordisk’s share price fell on the news, trading 0.8% lower after being 4% higher earlier in the day. The shares are down 32% year-to-date and 59% from their all-time high.

Pharmaceutical company Novo Nordisk, maker of blockbuster weight loss drug Wegovy, says its CEO is stepping down. The Danish company is citing a steep decline in the company’s share price.