[New Nordisk] hapabapa/iStock Editorial via Getty Images Novo Nordisk (NVO [https://seekingalpha.com/symbol/NVO]) will shorten its name to Novo as the Danish drugmaker seeks to strengthen its brand as it battles Eli Lilly (LLY [https://seekingalpha.com/symbol/LLY]) for dominance in the obesity-drug market. The company will also update its logo, with its trademark bull shifting to face right, Novo said Monday. The changes come as Lilly increasingly adopts a single-name identity, dropping “Eli” from its marketing materials. At its Capital Markets Day on September 21 in London, Novo will provide a detailed overview of the updated corporate strategy.
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