Novo Nordisk’s new chief cuts 9000 jobs

Novo Nordisk is cutting 9000 jobs with the intention of saving around DKK8 billion (£1 billion) in annual costs, capping a turbulent year for the Danish pharma firm. The opinion of investors had darkened over the past year, after Novo struggled to meet demand for its obesity drug, lost market share to rival Eli Lilly and came under pressure from compounding pharmacies selling versions of its products in the US