Novo's High Stakes Rebranding: A Desperate Bid for Relevance in the Obesity Market Novo Nordisk's decision to rebrand itself as "Novo" and overhaul its corporate culture is a stark reminder that even established players can falter when faced with stiff competition.
The Danish drugmaker's struggles are a cautionary tale of how market share can slip away, despite successful products.
The company's troubles in the obesity space began long before Eli Lilly's weight loss pill, Foundayo, hit the market. According to IQVIA data cited by Lilly, Novo lags behind its rival with a 38.