STAT+: With new strategy, Novo outlines plans for obesity, direct-to-consumer work

At its London capital markets day, Novo Nordisk sought to assure investors that it would regain momentum in the coming years. The company outlined plans to expand its pipeline and find new products that it could sell more like consumer goods than traditional medicines, building off what is already occurring with its obesity treatments. The strategy also points toward direct-to-consumer work.

CEO Mike Doustdar said Novo would launch at least five multi-blockbusters by 2030 and deliver revenue growth on par with other major pharma firms. He presented a strategy that involved investing more in disease areas outside diabetes and obesity, and said the company "will be more active within business development," an acknowledgment of investors' concerns that Novo was too reliant on its landmark GLP-1 drugs and needed to develop other products.

Novo shares dropped 5% during Doustdar's opening remarks, a sign that investors wanted more specifics from the company's plans. The item is a STAT+ exclusive story, and the available excerpt does not provide further details on the pipeline or the direct-to-consumer strategy.