Novo Nordisk faces investor skepticism at Capital Markets Day as it outlines consumer and obesity growth plans

Novo Nordisk held its Capital Markets Day in London, where CEO Mike Doustdar acknowledged the need to reassure a restless investor audience. The company has recently streamlined its brand after a period marked by disappointing trial readouts, cancelled collaborations, and challenges in the U.S. market.

Doustdar said the obesity landscape has changed dramatically since the last investor meeting in 2024, noting that “consumers” are now a central focus. He warned that many pharma firms are moving into the lucrative obesity space, increasing competition.

The CEO promised radical changes to adapt to this “radically changed environment” and to deliver sustainable growth, but investors are seeking concrete details on the roadmap.

The event highlighted the tension between Novo’s blockbuster ambitions and the pressure to demonstrate tangible progress to shareholders.