Novo Nordisk rebrands to 'Novo,' unveils corporate changes as it fights for obesity market share

Novo Nordisk on Monday said it is rebranding its name to "Novo" and updating its corporate culture, as the company works to win back market share in the obesity drug space. The Danish drugmaker called the changes the beginning of a new chapter, as it has been grappling with stiff competition from chief rival Eli Lilly and investor pressure to deliver new blockbuster products and chart a path toward long-term growth. Novo is preparing to detail its business strategy changes during its Capital Markets Day event on Sept. 21. In a release, Novo also announced a broader company rebrand focused around the phrase "Lasting Health Starts Now," which promotes the idea that patients should make progress toward long-term well-being immediately rather than later.