Novo Says Priority Is Obesity Despite Investor Calls to Expand

Novo Nordisk A/S is doubling down on obesity and diabetes, putting it at loggerheads with investors calling for the Danish drugmaker to diversify after it lost ground to rivals in the competitive weight-loss market.

The Ozempic maker’s priority is to regain its competitiveness and get “back on a par” with Eli Lilly & Co., Novo Chairman Lars Rebien Sorensen told reporters after the company’s annual general meeting in Copenhagen on Thursday. At that point it could look at treatments for other health problems linked to obesity.