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CNBC's Charlotte Reed will travel to Copenhagen to speak with the company's new CEO Mark Doustdar, a 30-year veteran of the company, who has been in the top job since August. It's not been an easy ride so far, with the group announcing a sharp decline in sales, pressure on profit, a round of jobs cuts and continued competition from U.S. rivals when it comes to the blockbuster obesity drug market. Despite this, Berenberg is positive on the stock, saying Novo has hit "peak uncertainty." "Novo's superior growth profile and best-in-class R&D returns warrants a higher valuation premium to its peers," the bank added. Other analysts are less forgiving. Jefferies recently cut the stock's rating to underperform, citing competitive pressure in the U.S. and pricing concerns. Meanwhile, UBS analysts are concerned Novo's 8 billion Danish krone ($1.23 billion) one-off cost related to its restructuring has not been fully reflected on the bottom line, while adding that investors are continuing to question the group's lack of consumer experience in the American market. On Oct. 17, U.S. President Donald Trump told a press conference that the price of Novo's blockbuster weight-loss drug Ozempic would be "much lower" as part of the administration's negotiations over pricing with the company. The share price has been under pressure since the start of the year. Novo Nordisk is also preparing to hold an Extraordinary General Meeting on Nov. 14 to elect a new board. This follows the shock resignation of the company's chair and 6 other directors amid speculation of a dispute with the holding company Novo Holdings. This disruption at the top has done little to slow down M&A activity, however. Last week, Novo entered the bidding war for biotech group Metsera with a $9 billion bid to rival Pfizer's. Novo said in a statement that the acquisition would be "in line with the long-term strategy of... treating millions more people living with obesity and diabetes." Earlier in October, Novo offered $5.2 billion for Akero Therapeutics, an American group focused on treating liver disease.
